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Mexico Minister Videgaray Bought Home From Embattled Builder

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Mexico’s Finance Minister Luis Videgaray said he bought a 7.5 million peso ($508,000) home from a builder at the center of a political scandal that has helped erode the government’s popularity.

Videgaray said yesterday in a letter to the public that he purchased the home in October 2012 from Bienes Raices H&G, controlled by businessman Juan Armando Hinojosa. A unit of Grupo Higa, which is also owned by Hinojosa, was part of a consortium that won a $4.3 billion contract to build the Mexico-Queretaro high-speed rail project. The deal was canceled on Nov. 6, three days after being awarded to the joint venture led by China Railway.