SAN JUAN, Puerto Rico–(BUSINESS WIRE)–Retired world boxing champion Juan Félix Trinidad-García (“Tito”) and his father, coach and supervisor Juan Félix Trinidad-Rodríguez (“Don Félix”), filed lawsuit within the U.S. District Courtroom of Puerto Rico (Trinidad-García, et al. v. Fashionable Inc., et al., 21-cv-01529-ADC) (see at: https://www.quetglaslawpsc.org/_files/ugd/828c0f_fdc52a4cf7ec4a88abb7733714c2ecd6.pdf) towards Puerto Rico’s largest banking and securities funding entities: Fashionable Inc.-NASDAQ:BPOP (“BPOP”)- and its subsidiaries, -Fashionable Securities, LLC (“PSL”)- and Banco Fashionable de Puerto Rico (“BPPR”). Tito and Don Félix allege that BPPR by way of then-President Richard Carrión (and grandson of Fashionable’s founder), then-PSL’s President Michael McDonald, and BPPR-Government Vice President Juan Guerrero, and others, conspired to implement a vendetta and unlawful tying scheme proscribed by the federal banking legal guidelines (12 U.S.C. §1972, et seq.), which focused Tito and Don Félix. Fashionable prolonged secured credit score traces for $23 million to the Trinidads, on the tying prohibited situation that they switch their funding portfolios, of over $48 million, to PSL. This scheme persists and has precipitated the Trinidads mixed losses of over $93,218,292. §1975 offers for triple damages, for which the Trinidads declare losses of over $279,654,876.
Trinidads additional invoke the Courtroom to attempt claims for: a confidential financial quantity for Fashionable’s breach of a confidential settlement; $7,102,171.73 due to Fashionable’s breach of a Courtroom Judgment and unlawful partial liquidation of Tito’s Collateral; $58,218,292 for losses precipitated to their mixed portfolios; $5 million every, for psychological and emotional struggling; $25 million for Tito and $10 million for Don Félix for accidents to their industrial photographs and reputations; plus, an equal quantity for punitive damages.
The Trinidads request federal monetary establishments regulators to hone in on what Fashionable is doing on this case to place an finish to any alleged unlawful practices by Fashionable in Puerto Rico and different international markets the place it operates.