Reported about 2 months ago
Mexican billionaire Ricardo Salinas has launched a lawsuit claiming that his $110 million lender, Astor Asset Management, is a fraudster, having taken shares from his company Grupo Elektra as collateral for a loan. Salinas alleges that he cannot retrieve the shares despite offers to repay the loan in full, leading to a suspension of trading for Elektra's shares. The accused, Vladimir Sklarov, has denied any wrongdoing and suggested that the accusations are defamatory. Salinas' legal actions follow ongoing financial concerns, including significant debts and tax disputes.
Source: YAHOO