She told The Local: "It seems someone got the wrong end of the stick and the story has just grown and grown. It's got completely out of hand."
But Alaejos said the beer mogul did do "a lot" for the village during his life, including donating money to cultural institutions and churches.
He also reportedly left a considerable chunk of his fortune to his relatives, who visit the village each year.
"Many of them [Fernandez's family members] still visit for some months each summer, so it is great for the village and keeps it alive," Alaejos said.
"But the villagers won't be sharing in that inheritance directly."
Fernandez, who was one of 13 siblings, was forced to leave school at the age of 14 because his family couldn't afford the fees.
He packed up and left for Mexico with his wife when he was 32 to make his fortune. He eventually became the CEO of Grupo Modelo in 1971, the company that brews the world-famous Corona beer.
Corona Extra is the second most imported bottled beer in the United States and rakes in $935 million a year in sales.
