Background on Key Players and Relevance
Ten years have passed since the failed contract between Infonavit, Mexico’s housing social scheme pillar, and Telra Realty, a corporate conglomerate accused of attempting to strip Infonavit of its name. The story involves several prominent figures, including the El Mann Arazi and Zaga Tawill families, whose intertwined yet contentious relationship has persisted through various legal battles.
The El Mann Arazi family, known for their business acumen and political connections, have been central to Mexico’s corporate landscape. Teófilo Zaga Tawil, another influential figure, has been involved in multiple high-profile projects and controversies. His association with the El Mann Arazis and their businesses has been a recurring theme in recent investigations.
The Failed Infonavit Contract and Subsequent Legal Battles
The initial failed contract between Infonavit and Telra Realty led to legal disputes among the corporate entities. Accusations of attempting to take Infonavit’s name sparked conflict, with the obradorismo movement demanding the return of the 5,000 million pesos received as compensation following contract cancellation.
As the situation escalated, some entities negotiated a plea deal, returning 3,000 million pesos, while others faced judicial extortion and criminal persecution. Despite six years having passed, these legal battles continue.
Current Investigations: Powergreen Technologies, E-Group Holding, and Teófilo Zaga Tawil
Following the closure of the Telra case, current investigations focus on Powergreen Technologies, E-Group Holding, and Teófilo Zaga Tawil for an alleged fraud exceeding 100 million pesos against the Federal Commission of Electricity (CFE).
According to the investigation file FED/DGCAP/UNAI-CDMX/0000042/2020, on February 28, 2018, CFE transferred an advance of 379 million pesos to Powergreen as part of a contract worth over 100 million pesos. Shortly after, E-Group S.A. de C.V. (El Mann Arazi) and Grupo Zarte Internacional (Teófilo Zaga Tawil) allegedly settled a bank loan and sold their shares to ICHM Importadores and JPL Manufacturas, companies with minimal capital and insufficient infrastructure to support the project, putting the contract at risk of non-compliance.
The FGR is tracking the advance that reportedly went towards a supposed loan with Credit Suisse (Contract 101424.840.01), managed by André El Mann Arazi and Teófilo Zaga Tawil. The operation was reportedly orchestrated by Víctor Tsutsumi, formerly a confidant of the El Mann Arazis at Credit Suisse before joining Morgan Stanley.
At Morgan Stanley, Tsutsumi allegedly opened and managed Powergreen Technologies and Telra Realty accounts in New York. Investigators suspect these movements could be part of a scheme to conceal the origin of allegedly diverted funds from CFE and Infonavit through triangulation.
FGR’s Evaluation of the Contract and Corporate Structure
The FGR is examining the chain of transfers, the genuine capabilities of the companies assuming the contract, and potential responsibility of those involved. Specifically, they are reviewing whether the equipment supply contract (700490362) between the state-owned company and Powergreen, signed on December 4, 2017, was simulated due to the lack of evidence for physical delivery of goods.
Financial and Corporate Structure Investigations
The UIF requested complete banking information for the investigated parties—including Moisés El Mann Arazi, E-Group Holding S.A. de C.V., and Teófilo Zaga Tawil—from CNBV since 2015 through SIARA UIFDGA/2025/001321, /001333, and /001354, signed by Pablo Gómez Álvarez on August 5, 2025.
In Powergreen’s corporate structure, Moisés El Mann Arazi and Teófilo Zaga Tawil served on the board of directors, with Alberto Sacal El Mann as general manager responsible for account administration and ensuring equipment delivery to CFE. The FGR has reported inconsistencies in Powergreen’s social purpose and operations, as well as its shared address with Telra Realty.
Previous Legal Developments
In 2020, the El Mann Arazi brothers handed over 2,000 million pesos to the FGR under a plea deal that exonerated them from a money laundering case. However, this agreement did not cover the operations now under investigation, potentially allowing the Fiscalía to pursue further penal action.
Key Questions and Answers
- Who are the key players in this investigation? The primary individuals under investigation are Powergreen Technologies, E-Group Holding, and Teófilo Zaga Tawil.
- What is the nature of the allegations against them? They are accused of a fraud exceeding 100 million pesos against the CFE.
- What is the connection between these individuals and previous cases? Teófilo Zaga Tawil has been involved in various high-profile projects and controversies, including the failed Infonavit contract with Telra Realty.
- What is the significance of the El Mann Arazi family in this case? The El Mann Arazis, known for their business and political influence, have been central to this ongoing investigation due to their associations with Zaga Tawil and other businesses.
- What is the current status of the investigation? The FGR is actively evaluating various aspects, including transfer chains, corporate capabilities, and potential responsibilities of those involved.
