Indictment: Mexican official stashed $50 million in US

A U.S. indictment alleges a former Mexican official stashed $50 million in illicit funds in U.S. properties and bank accounts.

The indictment unsealed this week includes a notice of seizure on seven properties in New York, Miami, Los Angeles and Houston linked to Jose Manuel Saiz.

It charges Saiz, his wife and an associate conspired to launder money and commit bank fraud.

Saiz was secretary of finance for Mexico’s Tabasco state from 2007 to 2012 under then Gov. Andres Granier Melo.

Granier Melo is in jail in Mexico, charged with offenses related to the alleged embezzlement of millions of dollars from state coffers. He has denied the charges.

Saiz is in custody facing illegal enrichment charges in Mexico.

U.S. authorities arrested Saiz’s wife at her residence in Houston on Wednesday.