Ricardo Salinas Pliego - Criticism

Criticism

Ricardo B. Salinas is one of Latin America’s leading corporate figures and entrepreneurs, although he has been involved in a series of political and financial scandals (which include investigations by the American Securities and Exchange Commission and the Mexican Comision Nacional Bancaria y de Valores). Mr. Salinas was charged by the American Securities and Exchange Commission in January 2005 with being engaged in an elaborate scheme to conceal Salinas’s role in a series of transactions through which he personally profited by $109 million. The SEC complaint also alleged that Salinas and Padilla sold millions of dollars of TV Azteca stock while Salinas’s self-dealing remained undisclosed to the market place. This was settled in September 2006 with Mr. Salinas required to pay $7.5M while not admitting guilt. He is also accused of taking over with violence the facilities of CNI Canal 40 in 2003. The latter used to be an independent TV channel which broadcast from the north of Mexico City. In February 2012 while representatives of the CFC ( Federal Competition Commission ) were notifying the headquarters of Iusacell their unfavorable resolution against the union between this company and Televisa, lawyers from Iusacell decided to change the physical numbers of the building in order to avoid receiving the notification. In addition, his banks have been accused of abusing microlending practices in Mexico. This is a practice that should help low income people become entrepreneurs but is often abused by charging poor people unreasonable interest rates.

Read more about this topic:  Ricardo Salinas Pliego

Famous quotes containing the word criticism:

    The visual is sorely undervalued in modern scholarship. Art history has attained only a fraction of the conceptual sophistication of literary criticism.... Drunk with self-love, criticism has hugely overestimated the centrality of language to western culture. It has failed to see the electrifying sign language of images.
    Camille Paglia (b. 1947)

    I, with other Americans, have perhaps unduly resented the stream of criticism of American life ... more particularly have I resented the sneers at Main Street. For I have known that in the cottages that lay behind the street rested the strength of our national character.
    Herbert Hoover (1874–1964)

    Parents sometimes feel that if they don’t criticize their child, their child will never learn. Criticism doesn’t make people want to change; it makes them defensive.
    Laurence Steinberg (20th century)