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 Moderated by: bartmanaz  
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JCB
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I have no direct connection with this but it might be of interest...


https://www.msn.com/en-us/money/markets/americans-life-savings-disappear-from-mexican-bank-accounts/ar-AABNfHw?li=BBnb7Kz&ocid=iehp



MARIGOT
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I sincerely hope the expats in San Miguel Allende are able to recover their money.  It’s a very sad situation, and I wish them the best outcome.


However, it is beyond me why anyone would put their ‘life savings’ in a Mexican bank.  As has been said here before, never put money into Mexico that you can’t afford to lose.

repsilon
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Wow! Oh, Mexico!!!!

JZ
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Who is dumb enough to put a bunch of money in a Mexican "investment' bank. Not even a top 4-5 biggest MX bank.

I mean, why would you ever put your money there, let alone a legit MX bank.

This shit has happened for years in the US, so it is not an "Oh, Mexico event."

Hook
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Isn't MONEX the bank that a number of people in San Carlos have their trusts with? Seems like for the last few years, with Banamex and Bancomer getting out of the trust business, MONEX and Interacciones were the most popular.

What a sad situation. I wish them luck fighting this in the Mexican judicial system.

Bullshipper
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While living here I invested my nest egg in World Com and Tyco who both left me pennliness. Bernie Enbers the CEO of WC was a preacher before he went to jail.

RichD
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I think that Banorte has bought out Interacciones or at least the trust portion.

long time resident
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There are many trusts in San Carlos with Monex. What happened to those in San Miguel, has happened many other places in Mexico. I feel for them, and wish them luck. The Mexican legal system just isn't up to dealing justice just yet.

nice guy
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If you read this and other versions of this situation, lots of these victims had a long term relationship with the "lady" who screwed them and they were not checking on their accounts while the "trusted" employee was sending them BS phoney statements - exactly the same ruse that Madoff used to steal billons in New York. This in not just Mexico - if you leave your brain off, or your front door open mostly anywhere, people will walk in and steal anything they can carry off.

Last edited on Sat May 25th, 2019 05:55 pm by nice guy

Hook
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RichD wrote: I think that Banorte has bought out Interacciones or at least the trust portion.

That's a big ten-four, good buddy.

Bullshipper
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The Arbolito high interest baiting/ripoff was a $400 million bank fraud in that same part of the country about 20 years ago. The guys that did it lived openly in oppulence in SL Potosi when I was there. Always surprised me someone didn't take revenge on them.

diver45
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