Mexico: Posadas Group Faces Another Fraud Lawsuit

The Aviation Pilots’ Union (ASPA) of Mexico has brought a second lawsuit against the Posadas business group. According to the lawsuit, which was brought before the Attorney General’s Office, the businessmen retained the withheld income tax from the salaries of Mexicana Airlines pilots, and then blamed employees for the tax “error” at the end of the tax year. APSA wants Posadas Group (which owns the airline and various other businesses in Mexico) to be held to the same penalties as those who commit tax evasion. The lawsuit comes on the heels of a complaint filed on June 28 by APSA against Posadas for missing a series of nine meetings relevant to shareholders, thereby withholding important information from shareholders and the stock market. Read Article