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Average air fares to Caribbean, Mexico down this winter

February 16, 2017
Average air fares to Caribbean, Mexico down this winter ARLINGTON, USA -- Airlines Reporting Corp. (ARC), the premier driver of air travel intelligence and commerce in the travel industry, reported on Tuesday that travelers looking to fly south during the winter months can expect to pay slightly less than last year.  Nearly 240,000 air tickets to...

Commentary: Widespread congressional 'pay to play' scheme involving Puerto Rico bonds

February 14, 2017
Commentary: Widespread congressional 'pay to play' scheme involving Puerto Rico bonds The Office of Congressional Ethics (OCE) is preparing to tackle a widespread congressional “pay to play” scheme involving Puerto Rico bonds. In “off the record” conversations, members of the OCE have expressed serious concern over the depth and scope of serious allegations of wrongdoing.

Thirteen arrested in scheme to smuggle narcotics from Puerto Rico to New York

February 9, 2017
Thirteen arrested in scheme to smuggle narcotics from Puerto Rico to New York NEW YORK, USA -- A multi-agency operation on Tuesday morning resulted in the arrest and indictment of 13 members of a narcotics trafficking group charged with smuggling large amounts of narcotics from Puerto Rico through the US Mail for distribution in New York City. The arrests are the...

DHL invests close to $1 million in Puerto Rico in 2016

February 4, 2017
DHL invests close to $1 million in Puerto Rico in 2016 MIAMI, USA -- DHL Global Forwarding, the air and ocean freight specialist within Deutsche Post DHL Group, announced it is celebrating ten years as a dedicated Life Science Competency Center, out of the approximately 60 years it has been in operation in San Juan, Puerto Rico.

School bus company owners convicted of bid rigging and mail fraud in Puerto Rico

January 28, 2017
School bus company owners convicted of bid rigging and mail fraud in Puerto Rico SAN JUAN, Puerto Rico -- Following a week-long trial, a federal jury in Puerto Rico has convicted four individuals for participating in bid rigging and fraud conspiracies at an auction for public school bus transportation services in Puerto Rico’s Caguas municipality. Gavino Rivera Herrera...

Puerto Rico celebrates release of political prisoner

January 27, 2017
Puerto Rico celebrates release of political prisoner SAN JUAN, Puerto Rico -- Jubilant celebrations began the same day that Oscar López Rivera, Puerto Rico's longest held political prisoner, had his sentence commuted by former President Barack Obama on January 17. López Rivera was convicted of seditious conspiracy in 1981 and sentenced to 55 years...

Four vessels with 126 undocumented migrants intercepted off Puerto Rico

January 27, 2017
Four vessels with 126 undocumented migrants intercepted off Puerto Rico AGUADILLA, Puerto Rico -- US Customs and Border Protection (CBP), US Coast Guard and the Puerto Rico Police Department (PRPD), working under the Caribbean Border Interagency Group (CBIG), have intercepted 126 undocumented migrants from the Dominican Republic, Cuba and Haiti.

Swiss bank ordered to pay investors over $25 million for losses involving Puerto Rico bonds

January 27, 2017
Swiss bank ordered to pay investors over $25 million for losses involving Puerto Rico bonds SAN JUAN, Puerto Rico -- Two subsidiaries of Swiss bank UBS have been ordered to pay several investors in Puerto Rico over $25 million by two FINRA arbitration panels for losses the investors suffered in Puerto Rico bonds and UBS's closed-end Puerto Rico bond funds. In one case, the arbitration panel...

Trade fraud coordination strengthened in Puerto Rico

January 25, 2017
Trade fraud coordination strengthened in Puerto Rico SAN JUAN, Puerto Rico -- US Customs and Border Protection Director of Field Operations Marcelino Borges and US Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI) Special Agent in Charge Ricardo Mayoral signed an agreement on January 20...

Commentary: How to steal $70 billion in Puerto Rico bonds and get away with it!

January 25, 2017
Commentary: How to steal $70 billion in Puerto Rico bonds and get away with it! I will start out with an analogy that will illustrate exactly what took place in a way that everyone can understand. John Doe had a $70 billion home mortgage. John was having trouble making the payments and was running short on money for home repairs. John knew that he couldn’t qualify for...

The 2017 Puerto Rico Investment Summit listed on new events website

January 24, 2017
The 2017 Puerto Rico Investment Summit listed on new events website MIAMI, USA -- EventsXPO.com, the leading discovery platform for US events and trade shows, has added the March, 2017, Puerto Rico Investment Summit to its listings. The fifth Puerto Rico Investment Summit is scheduled on March 2 and 3 and is expected to draw hundreds of investors...

Obama commutes sentence for Puerto Rico political prisoner

January 19, 2017
Obama commutes sentence for Puerto Rico political prisoner WASHINGTON, USA -- Puerto Rico's longest-held political prisoner Oscar López Rivera's sentence has been commuted by US President Barack Obama.  The news first broke on social media on Tuesday afternoon, although the pro-independence weekly Claridad had announced that a source...

Another investor lawsuit filed over Puerto Rico bonds

January 16, 2017
Another investor lawsuit filed over Puerto Rico bonds SAN JUAN, Puerto Rico -- A securities arbitration law firm on Friday filed a claim against UBS Financial Services Inc. of Puerto Rico and UBS Financial Services, Inc. (collectively “UBS”) for $8.5 million. According to the claim, the claimant entrusted assets to UBS with the investment objective...

Go-fast vessel with 2,000 pounds of cocaine intercepted near Dominican Republic

January 12, 2017
Go-fast vessel with 2,000 pounds of cocaine intercepted near Dominican Republic AGUADILLA, Puerto Rico -- US Customs and Border Protection (CBP) Air and Marine Operations (AMO) aircraft detected a vessel concealing seized 2,000 pounds (907 kilos) of cocaine that was intercepted just off the Dominican Republic by ongoing multi-agency law enforcement efforts...

Puerto Rico authorities seize counterfeit luxury watches

January 12, 2017
Puerto Rico authorities seize counterfeit luxury watches SAN JUAN, Puerto Rico -- US Customs and Border Protection (CBP) San Juan Field Operations announced on Wednesday the seizure of 20 counterfeit luxury watches, found in two separate shipments, estimated at $2.6 million (MSRP), illegally imported into Puerto Rico from China.

CBP starts operations at new general aviation facility in San Juan, Puerto Rico

January 11, 2017
CBP starts operations at new general aviation facility in San Juan, Puerto Rico SAN JUAN, Puerto Rico -- US Customs and Border Protection (CBP) has announced that PAZOS Fixed Base Operator (FBO) Service opened a new general aviation processing facility at the Luis Munoz Marin International Airport (LMMIA) located in Carolina, Puerto Rico.

Letter: SEC seeks public feedback from anyone with knowledge of Puerto Rico bond fraud

January 9, 2017
Letter: SEC seeks public feedback from anyone with knowledge of Puerto Rico bond fraud Numerous individuals have come forward over the past year to testify about the massive amount of alleged financial fraud taking place in Puerto Rico. Below is a brief list of the accusations made regarding these activities. Billions of dollars is unaccounted for within the Puerto Rico Electric...

Fifth edition of the Puerto Rico Investment Summit scheduled for March 2017

January 6, 2017
Fifth edition of the Puerto Rico Investment Summit scheduled for March 2017 SAN JUAN, Puerto Rico -- The Puerto Rico Investment Summit (PRIS), the Caribbean’s premier investor’s conference, will celebrate its fifth edition on March 2 and 3, at the Puerto Rico Convention Center in San Juan. This summit is the most important conference to learn about Puerto Rico’s...

As Puerto Rico moves closer to debt restructure, the USVI may need a similar lifeline

December 28, 2016
As Puerto Rico moves closer to debt restructure, the USVI may need a similar lifeline ST THOMAS, USVI -- As Puerto Rico moves closer to restructuring its $70 billion debt after the US federal board overseeing its finances issued a framework to pull the island out of crisis and resumed talks with creditors, another US Caribbean territory, the US Virgin Islands, is grappling with...

Zapping Zika: Puerto Rico Tourism Company optimistic for 2017

December 27, 2016
Zapping Zika: Puerto Rico Tourism Company optimistic for 2017 SAN JUAN, Puerto Rico -- Experiencing a 96% reduction in the number of new zika cases since the peak in October 2016, the Puerto Rico Tourism Company (PRTC) is optimistic heading into 2017. Over the past ten weeks, there has been a markedly steady decline of reported new zika...

Island at War: Puerto Rico in the crucible of the Second World War

December 22, 2016
Island at War: Puerto Rico in the crucible of the Second World War Despite Puerto Rico being the hub of the United States' naval response to the German blockade of the Caribbean, there is very little published scholarship on the island's heavy involvement in the global conflict of World War II. Recently, a new generation of scholars has been compiling...

Air Canada launches new non-stop service between Montreal and San Juan, Puerto Rico

December 19, 2016
Air Canada launches new non-stop service between Montreal and San Juan, Puerto Rico MONTREAL, Canada -- Air Canada on Saturday inaugurated a new non-stop service between Montreal and Puerto Rico. The morning departure of Air Canada flight AC958 marks the beginning of weekly flights from Montreal to San Juan's Luis Muñoz Marín International Airport, which will...

Puerto Rico tourism holds steady in 2016 despite zika

December 9, 2016
Puerto Rico tourism holds steady in 2016 despite zika SAN JUAN, Puerto Rico -- Despite a challenging year, demand for the destination of Puerto Rico in 2016 remained strong. Coming off of a historic record breaking 2015, The Puerto Rico Tourism Company (PRTC) is reaching its aggressive goal of welcoming ten million passengers to Puerto...

Puerto Rico mayor arrested for public corruption

December 8, 2016
Puerto Rico mayor arrested for public corruption SAN JUAN, Puerto Rico -- On Wednesday, Victor Ortiz-Díaz aka “Manolito”, the mayor of the municipality of Gurabo, Puerto Rico, was arrested by Federal Bureau of Investigation (FBI) agents on charges of extortion and soliciting a bribe. According to the indictment, on or about October 2012...

Puerto Rico investor awarded record $18.5 million against Swiss bank

December 8, 2016
Puerto Rico investor awarded record $18.5 million against Swiss bank SAN JUAN, Puerto Rico -- The Financial Industry Regulatory Association (FINRA) Office of Dispute Resolution has published a record $18.5 million securities arbitration award on behalf of Puerto Rico investor Rafael Vizcarrondo against UBS Financial Services, Inc. (UBS) and its Puerto Rico affiliate...

Commentary: Tens of billions in Wall Street theft while political corruption prevents prosecution

December 8, 2016
Commentary: Tens of billions in Wall Street theft while political corruption prevents prosecution On the record, the FBI states that the actions of Wall Street’s major credit rating agencies and banks do not rise to the level of criminal activity. Off the record, they found the evidence overwhelming and disturbing. In this case, we have sworn testimony, fraudulent public documents, audit trails...

Puerto Rico bond fraud victims kick off advertising campaign highlighting PROMESA corruption

November 26, 2016
Puerto Rico bond fraud victims kick off advertising campaign highlighting PROMESA corruption WASHINGTON, USA -- In response to allegations of ongoing government corruption, a series of television and radio spots have been created to inform and educate the American people. These efforts will be undertaken through a new entity that will be called “Wall Street Fraud”.

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