Latest news with #JuanMorillo
Yahoo
a day ago
- Sport
- Yahoo
Encarnacion-Strand lifts the Reds over the Diamondbacks 4-3 in 10th inning of suspended game
Cincinnati Reds' Christian Encarnacion-Strand warms up during the seventh inning of a baseball game against the Arizona Diamondbacks that was suspended Friday because of rain and resumed, Saturday, June 7, 2025, in Cincinnati. (AP Photo/Jeff Dean) Arizona Diamondbacks pitcher Juan Morillo walks to the dugout during the seventh inning of a baseball game against the Cincinnati Reds that was suspended Friday because of rain and resumed, Saturday, June 7, 2025, in Cincinnati. (AP Photo/Jeff Dean) Cincinnati Reds pitcher Graham Ashcraft reacts as he walks to the dugout during the eighth inning of a baseball game against the Arizona Diamondbacks that was suspended Friday because of rain and resumed, Saturday, June 7, 2025, in Cincinnati. (AP Photo/Jeff Dean) Cincinnati Reds' Christian Encarnacion-Strand (33) hits the game-winning RBI double during the 10th inning of a baseball game against the Arizona Diamondbacks that was suspended Friday because of rain and resumed, Saturday, June 7, 2025, in Cincinnati. (AP Photo/Jeff Dean) Cincinnati Reds' Christian Encarnacion-Strand (33) hits the game-winning RBI double during the 10th inning of a baseball game against the Arizona Diamondbacks that was suspended Friday because of rain and resumed, Saturday, June 7, 2025, in Cincinnati. (AP Photo/Jeff Dean) Cincinnati Reds' Christian Encarnacion-Strand warms up during the seventh inning of a baseball game against the Arizona Diamondbacks that was suspended Friday because of rain and resumed, Saturday, June 7, 2025, in Cincinnati. (AP Photo/Jeff Dean) Arizona Diamondbacks pitcher Juan Morillo walks to the dugout during the seventh inning of a baseball game against the Cincinnati Reds that was suspended Friday because of rain and resumed, Saturday, June 7, 2025, in Cincinnati. (AP Photo/Jeff Dean) Cincinnati Reds pitcher Graham Ashcraft reacts as he walks to the dugout during the eighth inning of a baseball game against the Arizona Diamondbacks that was suspended Friday because of rain and resumed, Saturday, June 7, 2025, in Cincinnati. (AP Photo/Jeff Dean) Cincinnati Reds' Christian Encarnacion-Strand (33) hits the game-winning RBI double during the 10th inning of a baseball game against the Arizona Diamondbacks that was suspended Friday because of rain and resumed, Saturday, June 7, 2025, in Cincinnati. (AP Photo/Jeff Dean) CINCINNATI (AP) — Christian Encarnacion-Strand homered in the sixth inning to tie the game before it was suspended Friday night and then hit a walk-off double in the 10th on Saturday to help the Cincinnati Reds beat the Arizona Diamondbacks 4-3. Encarnacion-Strand's heroics came in his first game since April 17 after coming off the injured list Friday. It was the first walk-off win this season for the Reds (31-33) and their first victory in extra innings. Advertisement Encarnacion-Strand hit his third home run — a one-out solo shot off rookie Cristian Mena to tie it at 3-all in the sixth. Mena got pinch hitter Gavin Lux to ground out with men on to end the inning before rain stopped play. Ketel Marte hit his 12th home run — a two-run shot in the third — and Geraldo Perdomo followed with his sixth as Arizona grabbed a 3-0 lead. TJ Friedl hit his fifth homer — a two-run shot in the bottom half — to make it 3-2. Tony Santillan (1-1) struck out two in a scoreless 10th for the win. Graham Ashcraft struck out four in the first two innings Saturday and Emilio Pagán fanned two in a perfect ninth. Starter Nick Lodolo allowed three runs on five hits in six innings. Advertisement Ryan Thompson (1-2) was tagged with the loss after Encarnacion-Strand drove in mandatory runner Jake Fraley. Starter Eduardo Rodriguez gave up two runs on six hits in five innings. Reliever Jalen Beeks struck out 3 of 5 batters after play resumed. Key moment Encarnacion-Strand's homer on Friday came just in time to take a rain-shortened win away from the D-backs and force a suspension. Key stat Five of Arizona's six hits came in the first five innings. Up next Diamondbacks RHP Ryne Nelson (2-1, 3.43) will start the regularly scheduled game against Reds RHP Nick Martinez (3-6, 3.89). ___ AP MLB:
Yahoo
10-05-2025
- Business
- Yahoo
Citigroup to face lawsuit over alleged involvement in Oceanografia's fraud
Citigroup is set to face a revived lawsuit alleging its role in a fraud at the now-bankrupt Mexican oil and gas services company Oceanografia, which led to more than $1bn (19.51bn pesos) in losses. The 11th US Circuit Court of Appeals in Miami has ruled that the case, previously dismissed, holds merit and Citigroup may have substantially aided the fraudulent activities, according to a report by Reuters. A panel of three judges found that the plaintiffs, including vendors, creditors and bondholders, presented adequate allegations against Citigroup. The financial giant's Banamex unit had been providing cash advances to Oceanografia, which worked closely with Mexico's state-owned oil company Pemex, and collected interest on these advances. Citigroup spokeswoman Danielle Romero-Apsilos declined to comment on the court's decision. However, Juan Morillo, representing the plaintiffs, expressed their gratification regarding the revival of the lawsuit. The plaintiffs, which comprise shipping and leasing companies, investment funds and Rabobank, have accused Citigroup of advancing $3.3bn to Oceanografia between 2008 and 2014, despite clear signs of the company's excessive debt and fraudulent activities. According to the report, Citigroup had discovered nearly $430m in fraudulent cash advances and was subsequently fined $4.75m by the US Securities and Exchange Commission in 2018 for inadequate internal controls at Banamex. Former Citigroup CEO Michael Corbat acknowledged the dismissal of 12 employees due to the scandal, while Mexican regulators found ten bank employees criminally liable. Circuit Judge Britt Grant, in an 82-page decision, pointed out that Citigroup allegedly withheld crucial information from the plaintiffs and was likely aware of Oceanografia's fraudulent conduct, given the financial institution's sophistication. The case has been sent back to US District Judge Darrin Gayles in Miami, who had dismissed it in August 2023. The case is Otto Candies LLC et al v Citigroup Inc, 11th US Circuit Court of Appeals, No. 23-13152. "Citigroup to face lawsuit over alleged involvement in Oceanografia's fraud" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Reuters
08-05-2025
- Business
- Reuters
Citigroup must face $1 billion lawsuit claiming it aided Mexican oil company fraud
May 8 (Reuters) - Citigroup (C.N), opens new tab must face a revived lawsuit claiming it caused more than $1 billion of losses by orchestrating and concealing a vast fraud at the now-bankrupt Mexican oil and gas services company Oceanografia, a U.S. appeals court ruled on Thursday. A three-judge panel of the 11th U.S. Circuit Court of Appeals in Miami said 30 Oceanografia vendors, creditors and bondholders adequately alleged that Citigroup substantially aided the fraud, and a lower court judge erred in dismissing the nine-year-old case. Danielle Romero-Apsilos, a Citigroup spokeswoman, declined to comment. Juan Morillo, one of the plaintiffs' lawyers, said his clients were gratified by the decision. Citigroup's Banamex unit had provided cash advances to Oceanografia, which provided drilling services to Mexico's state-owned oil company Petroleos Mexicanos (Pemex) ( and collected interest payments on the advances. The plaintiffs, including shipping and leasing companies, investment funds and Netherlands-based Rabobank, said Citigroup advanced $3.3 billion to Oceanografia between 2008 and 2014 despite knowing the company had too much debt and had been forging Pemex signatures on authorization forms. Citigroup later found nearly $430 million of fraudulent cash advances, and was fined, opens new tab $4.75 million by the U.S. Securities and Exchange Commission in 2018 over Banamex's internal controls. Former Citigroup Chief Executive Michael Corbat said the bank fired 12 employees, and Mexican regulators said 10 bank employees were criminally liable under Mexican law. In an 82-page decision, Circuit Judge Britt Grant found sufficient allegations that Citigroup withheld key information about Oceanografia from the plaintiffs, with the interest payments providing a financial incentive. "Citigroup is one of the world's most sophisticated financial institutions, and it strains credulity to conclude that, assuming the plaintiffs' allegations are true, Citigroup lacked awareness of (Oceanografia's) activities," she added. The court returned the case to U.S. District Judge Darrin Gayles in Miami, who dismissed it in August 2023. The case is Otto Candies LLC et al v Citigroup Inc, 11th U.S. Circuit Court of Appeals, No. 23-13152.
