DEL MONTE SAYS ITS BANKS TO CONTINUE GIVING CREDIT
CORAL GABLES, Fla. -- Del Monte Fresh Produce Co. here said last week that it has received notification from officials in Mexico that its banks there will continue to offer the company commercial credit, despite an investigation into possible fraudulent activities of the company's chairman of the board, Carlos Cabal Peniche. Earlier this month, Mexican officials issued a warrant for the arrest of
September 19, 1994
CORAL GABLES, Fla. -- Del Monte Fresh Produce Co. here said last week that it has received notification from officials in Mexico that its banks there will continue to offer the company commercial credit, despite an investigation into possible fraudulent activities of the company's chairman of the board, Carlos Cabal Peniche. Earlier this month, Mexican officials issued a warrant for the arrest of Cabal, a Mexican banker, who is accused of fraudulently lending himself $700 million, some of which authorities say he used to purchase Del Monte Fresh Produce in 1992. Authorities say they believe he has fled the country.
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