Combative billionaire’s bank accused of bribing a Texas Democrat

Over three decades, Ricardo Salinas Pliego became one of Mexico’s richest men with a mix of political connections and tough tactics. Now, his bank is at the center of a U.S. federal indictment accusing a Texas congressman of accepting bribes. U.S. federal prosecutors say a Mexican bank channeled $238,000 in bribes disguised as consulting fees to Rep. Henry Cuellar (D., Texas) to further the bank’s interests in Washington by influencing U.S. anti-money-laundering legislation, according to an indictment unsealed Friday in Houston. The lender in question was Salinas Pliego’s Banco Azteca, according to a U.S. official. Salinas Pliego is among the oligarchs who emerged in the 1990s, when Mexico sold off state companies to private investors. He built a retail and broadcasting empire that includes Banco Azteca focusing on low-income households, and developed a reputation as a combative businessman who isn’t afraid to play rough with creditors, competitors and regulators.

Neither Salinas Pliego nor his bank were charged with any wrongdoing. Luciano Pascoe, a spokesman for Salinas Pliego’s Grupo Salinas, which owns Banco Azteca among other companies, said Sunday on X that the conglomerate, like many other companies, lobbies “to safeguard the causes in which we believe and will always defend.” Banco Azteca has the highest standards of compliance, he added. Pascoe declined to comment further on the U.S. indictment. Cuellar, who represents a district on the Texas-Mexico border, said he is innocent. He was released in Houston on Friday along with his wife, Imelda Cuellar, after each paid an unsecured $100,000 bond. The indictment also charges Cuellar with receiving $360,000 in bribes from an Azerbaijani state oil company for helping to advance the interests of the government of Azerbaijan. Salinas Pliego is a controversial figure in Mexico, where he is mired in tax disputes with the government over billions of dollars and has skipped debt payments to U.S. bondholders for years. He has used his television network to discredit adversaries, and has waged protracted courtroom battles with authorities and former partners such as General Electric.