Banks Sued for Rigging Market for Mexican Government Bonds
- Pension fund for Boston government employees filed suit Monday
- Mexican authorities began probing price fixing last year
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More than a half-dozen banks were sued by the pension fund for Boston government employees, which alleged the institutions rigged the market for Mexican government bonds for more than a decade.
The Boston Retirement System sued banks including Banco Santander SA, JPMorgan Chase & Co. and Credit Suisse AG in federal court in New York Monday, accusing them of conspiring to fix prices for Mexican government bonds between 2006 and April 2017 by rigging auctions, selling bonds at artificially high prices and fixing spreads. The three banks didn’t immediately respond to requests for comment.