Mexico's government will take control of first division football club Gallos Blancos de Queretaro over reports of financial irregularities, reports Reuters. The owner is the chief executive of a company at the centre of a money-laundering probe involving Citigroup's Mexican subsidiary, a high-ranking government official said on Tuesday.
Mexican authorities are investigating oil services company Oceanografia after Citigroup said on Friday it had discovered at least $400 million in fraudulent loans at its Mexican subsidiary, Banamex.
The chief executive of Oceanografia is the owner of the Gallos Blancos.
"Queretaro will be taken control of, I'm not sure when, but it will be taken control of," the official said, speaking on condition of anonymity.
Gallos Blancos de Queretaro currently lie 13th among the 18 teams in the Clausura tournament in Mexico.
For breaking stories and all the great banter like us on Facebook: facebook.com/tribalfootball