Eduardo Fernández was the powerful president of the National Banking and Securities Commission during the government of Ernesto Zedillo, where he had significant power to decide who would go to prison and who would be released in cases of banking, stock market, and financial crimes. Entrepreneurs and lawyers recall secret meetings where opinions of no crime were discussed in exchange for money at the Commission's headquarters.
Fernández became involved in legal claims, one of which was won by a plaintiff against the company in which he was a partner. Subsequently, he faced extortion charges from Televisa executives, resulting in a sentence against him and being found guilty of the crime.
After leaving the CNBV, Fernández was accused of selling secret banking information to the PRI and later founded a brokerage house in New York, which eventually went bankrupt, leaving him in debt. Feared by many, his story has been described as that of a powerful official who has fallen from grace.
Recently, he has been involved in new litigation related to extortion attempts against Televisa executives, detailing a plan to hand over a large sum of cash in a letter sent to the company. The precise instructions and demands for large sums of cash reveal the nature of Fernández's actions.
