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Aerial view of San Juan, Puerto Rico. (Source: Shutterstock)

Seven island-insured credit unions have upped the ante in their lawsuit against the Puerto Rican government.

The cooperativas are seeking approval to add allegations that the island’s government engaged in “a pattern of organized crime activity” when they coerced the financial institutions to purchase excessive amounts of Puerto Rican debt securities that they knew were neither safe nor sound.

David Baumann

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