Search
 

Puerto Rico Government to Cooperativas: Where’s the Fraud?

The government files a motion arguing the lawsuit contending it committed fraud fails to present any supporting facts.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
A street in San Juan, Puerto Rico

Puerto Rico’s government has asked a federal judge to dismiss a lawsuit contending it defrauded seven island-insured cooperativas.

In documents filed in Puerto Rico federal court, the government, its fiscal oversight board and its local credit union regulator said the cooperativas have not demonstrated that they were coerced into buying government bonds whose values have dropped as a result of the fiscal crisis the island faces.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

David Baumann

Dig Deeper

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.