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| | TV Azteca S.A. de C.V., Azteca Holdings, S.A. de C.V., Ricardo Salinas Pliego, Pedro Padilla Longoria, and Luis Echarte ... |
 | | At the time that Salinas purchased the indebtedness, he was aware that Unefon was in negotiations with another large telecom company which would provide substantial cash to Unefon, and enable Unefon to pay off the full amount of the indebtedness that Salinas had purchased at a discount. |
 | | Only three months later, when Unefon closed the deal with the other telecom company, Salinas profited by $109 million upon Unefon's repayment of the debt at full value. |
 | | The Commission alleged that TV Azteca filed the false reports with the SEC, concealing Salinas' involvement in the Unefon debt transactions, despite receiving advice from its U.S. counsel that these transactions were material, reportable transactions under U.S. federal securities laws. |
| edgar.sec.gov /litigation/litreleases/lr19022.htm (690 words) |
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