Enrique Molina Sobrino
became very wealthy by creating the biggest Pepsi
bottling group in Mexico
, named Gemex. He also created an empire in the production of sugar. In 2002 he sold Pepsi Group in Mexico to The Pepsi Bottling Group
, the largest Pepsi bottler in the world partially owned by Pepsi
, for 1.5 billion dollars. But in 2003 Francisco Gil
the Mexican Secretary of Treasury sued him for fraud: allegedly Molina faked sugar exports to cash government subsides aimed at promoting sugar exports, this made him escape to Scottsdale, Arizona
where he currently lives.
Molina also was part owner of Grupo Financiero Banamex when it was privatized by the Salinas administration. Banamex is now owned by Citibank.