Ricardo Salinas Pliego and Pedro Padilla Longoria

Washington - The Securities and Exchange Commission (SEC) filed a lawsuit in January 2005 charging the officials at TV Azteca with taking part in an elaborate scheme to conceal related party deals between Unefon, a TV Azteca subsidiary, and Codisco, a private firm that Salinas secretly co-owned. The SEC said the secret deal yielded a $109 million profit. Salinas and Longoria have agreed to settle fraud charges and will pay $8.5 million in fines. The SEC said the fines will be used to compensate investors who were harmed by the alleged scheme. (Sep-14-06) [HAMSCOTT]

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