Mexico City, July 28 (IANS/EFE): A suspect has been arrested for defrauding the National Public Works and Services Bank (Banobras), of more than $91 million, the Mexican attorney general's office said.

"An arrest warrant issued by a federal judge against a person accused of violating the Lending Institutions Law," a statement said.

Investigators said that "financing was provided by Banobras for the acquisition servicing of five drilling rigs for onshore oil wells," the statement added.

Banobras filed a criminal complaint on November 21 after discovering that the value of real estate used as collateral for the loan had been inflated and documents used to apply for financing were false.

No payments were made after Banobras disbursed the more than $91 million to the suspect and seven other people.

The suspect was arrested at the international airport in Mexico city, the Attorney General's organised crime unit (SEIDO) said.