VANCOUVER, Canada, 26-Aug-2024 — /EuropaWire/ — Astor Asset Management, a prominent investment firm, has formally accused Mexican billionaire Ricardo Salinas Pliego of breaching a $110 million loan agreement. The allegations include failure to meet payment obligations and non-disclosure of pledged shares, which is considered a violation of Mexican securities regulations. Astor asserts that these actions compromise market transparency and investor confidence. The firm has urged Mexico’s National Banking and Securities Commission (CNBV) to take decisive action. This development could have significant implications for the financial markets and regulatory environment in Mexico.

For further details, read the full press release issued by the firm over here (German) and here the Spanish version.