This site was created to curate the numerous online documents surrounding irregularities with Banco Monex. We hope this compilation of information makes your own research easier.

Current Fraud In San Miguel de Allende

Over $40 Million USD Stolen In Ponzi Scheme

Many Americans, Canadians and others have lost their entire life savings to an elaborate Ponzi Scheme that took place over many months. As expatriates, they have limited rights to recover their money.

Banco Monex continues to stall attempts to fairly settle these claims. If you are considering Banco Monex as a banking or investment source, we urge you to perform your own due-diligence! We hope these curated articles make that process more transparent for you.

Demands have been made against Monex based the following types of fraud:

1. Forgery

2. Fraud in the inducement through the overt misrepresentations by at least one employee and agent of Monex, specifically the misrepresentation of the meaning and impact of documents in Spanish to people that employee knew spoke only English and could not read or understand Spanish

3. Embezzling funds from the depositors’ accounts

4. Unauthorized transfers to people and firms the depositors do not know

5. Unauthorized investments

6. Unauthorized liquidation of investments

7. Unauthorized transfers between accounts

8. Diversion of international wire transfers from intended recipients

9. Unauthorized changes to names on accounts

10. Unauthorized changes to depositors’ e-mail addresses

11. Unauthorized changes to passwords into the accounts of depositors

12. Providing depositors with fraudulent statements and fraudulent account balances
13. Unauthorized conversion of U.S. dollars to Mexican pesos

Additional Articles

Click to read the entire article including original links back to the source.


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