Law firm files suit against popular Inc. for Alleged Banking Illegalities on behalf of former Boxing Greats, Tito Trinidad and His dad Don Félix

Retired world boxing champion Juan Félix Trinidad-García (“Tito”) and his father, trainer and manager Juan Félix Trinidad-Rodríguez (“Don Félix”), filed suit in the U.S. district Court of Puerto Rico (Trinidad-García, et al. v. popular Inc., et al., 21-cv-01529-ADC) (see at: ) against Puerto Rico’s largest banking and securities investment entities: popular Inc.-NASDAQ:BPOP (“BPOP”)- and its subsidiaries, -Popular Securities, LLC (“PSL”)- and Banco popular de Camiseta Selección de fútbol de Túnez Puerto Rico (“BPPR”).

Tito and Don Félix allege that BPPR through then-President Richard Carrión (and grandson of Popular’s founder), then-PSL’s President Michael McDonald, and BPPR-Executive Vice President Juan Guerrero, and others, conspired to execute a vendetta and illegal tying scheme proscribed by the federal banking laws (12 U.S.C. §1972, et seq.), which targeted Tito and Don Félix. popular extended secured credit report lines for $23 million to the Trinidads, on the tying prohibited condition that they transfer their investment portfolios, of Camiseta Manchester United over $48 million, to PSL. This scheme persists and has caused the Trinidads Camiseta US Sassuolo combined losses of over $93,218,292. §1975 offers for triple damages, for which the Trinidads claim losses of over $279,654,876.

Trinidads even more invoke the Court to try claims for: a confidential monetary amount for Popular’s breach of a confidential settlement; $7,102,171.73 because of Popular’s breach of a Court Judgment and illegal partial liquidation of Tito’s Collateral; $58,218,292 for losses caused to their combined portfolios; $5 million each, for mental and emotional suffering; $25 million for Tito and $10 million for Don Félix for injuries to their commercial images and reputations; plus, an equal amount for punitive damages.

The Trinidads request federal financial institutions regulators to hone in on what popular is doing in this case to put an end to any alleged illegal practices by popular in Puerto Rico and other global markets where it operates.

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