MEXICO CITY– A U.S. federal judge has postponed by two months the start date of the SEC’s civil fraud trial against Mexico’s TV Azteca and three executives.
Trial, to determine whether Azteca topper Ricardo Salinas illegally reaped a $109 million profit from a 2003 debt deal involving telco Unefon, had been set for May 31.
Earlier this month, Azteca asked the Washington court to drop charges against it on grounds that it was not involved in, or aware of, the allegedly fraudulent activities undertaken by Salinas and other Azteca officers at the heart of the case.
The Securities and Exchange Commission asked the court to give it until June 15 to respond. That request was honored by Judge Emmet G. Sullivan, who gave Azteca until July 11 to respond to the SEC. Trial would presumably begin shortly after that date.