Perspectives
Intelligence and observations from The Intelligence Research Desk at GO PRIVATELY LLC, curated for those who operate in complex environments.
Perspectives is the public expression of our private advisory discipline. These notes are written for principals, families, family offices, and organizations that operate in complex environments and value judgment before movement.
When the State Is Charged
A U.S. federal indictment naming a sitting Mexican governor has shifted the operating environment for U.S. principals with exposure to Mexico. What the case changes, what remains alleged, and how executives and family offices should respond over the next ninety days.
An Admiral in Palermo
The arrest of a Mexican rear admiral in Buenos Aires exposes more than a fugitive officer. It reveals the structural risks created when Mexico transferred control of its maritime customs system to the Navy — concentrating authority, weakening oversight, and opening a new pathway for large‑scale fuel‑smuggling networks.
Houston to Tampico
A U.S. raid in Houston and a wave of arrests in Mexico point to a vast “fiscal huachicol” scheme — real fuel, false paperwork, and billions in lost tax revenue. What looks like isolated enforcement actions may in fact expose a parallel fuel economy spanning the Gulf.
Mexico One Week Later: What the Stabilization Data Actually Shows
One week after the CJNG leadership event, the stabilization data tells a clearer story than the headlines. Destination by destination, this is what has steadied and what still warrants attention through April.
Mexico in the First 42 Hours: A Real-Time Intelligence Assessment
A real-time intelligence assessment from inside the crisis window. What is true right now, what is not yet known, and what businesses and travelers need to do in the next seventy-two hours.
The Huachicol Economy
A five‑year examination of Mexico’s fuel‑theft economy linking the Carmona network, the Altamira maritime operation, and the ANAM allegations into a single governance pattern shaping risk for private capital.
The Lady D Case
Allegations surrounding Diana Foullon Gómez — known publicly as “Lady D” — place the evolving architecture of Mexico’s fuel‑theft economy inside the National Customs Agency itself. The case illustrates how the Huachicol network continues to adapt, shifting across ports, institutions, and political relationships while preserving its underlying operating model.
Huachicol by Sea
A year‑long pattern of tanker arrivals at the Port of Altamira suggests that Mexico’s fuel‑theft economy may have shifted from border crossings to a centralized offshore import route.
Mexico City's Attorney General Vote
A failed vote to ratify Mexico City’s Attorney General followed threats, armed intimidation, and intense political pressure, offering a rare look at the mechanisms used to shape legislative outcomes in Mexico’s capital.
Pemex Governance: $150M Unaccounted
A complaint inside Pemex alleges roughly $150 million missing from the Campo Nejo development budget, drawing new scrutiny to the governance structure of PMI, the company’s most opaque subsidiary.
The Grey House, Revisited
New disclosures of Pemex Procurement International contracts tighten the timeline around the “Grey House” scandal, raising renewed questions about the overlap between Baker Hughes contracts and the Houston residence of the president’s son.
The King of Huachicol
The 2021 assassination of fuel-trafficking financier Sergio Carmona exposed a network linking Mexico’s huachicol economy, ruling‑party political financing, and the expanding institutional power of the armed forces.