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.

Monex had millions disappear from retirement accounts

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This article appeared on The original article can be read here.

The Affected ask for support from the US government, after the bank has offered to pay up to 40% of its resources

Just over 150 savings accounts of Americans who decided to live their retirement in San Miguel de Allende Guanajuato, were emptied in the Monex Financial Group; the damage amounts to 40 million dollars.

In this regard, Texas congressmen Bill Zedler and Tony Tenderholt and federal lawmaker Ron Wright asked the bank for an explanation about the losses and asked to return the savings to the Americans, but they had no response.

In 2017, the nightmare of the American Karger family began after the disappearance of their money in Monex.

Jim Karger is an American lawyer, who decided to live his retirement in San Miguel de Allende, Guanajuato.

He says that after the rumor that some bank accounts of his friends had been emptied, he visited in Querétaro, the nearest Monex branch, where he was confirmed that in his 10 accounts there were only 80 pesos, of the almost 18 million pesos They would have to be reflected. “I felt like I was sick,” he said.

Jim’s brother, his wife and more than 15 families were disappointed by the institution, which attributes the act to the employee Marcela Zavala, who won for more than 10 years the community’s confidence in that place to invest her accounts in the Bank.

With irregular movements, more than 40 million US dollars disappeared.

Monex, who chairs Héctor Lagos Dondé, acknowledged that Zavala was part of its employees. She was the executive in charge of attending the San Miguel de Allende area, which in the last 10 years became one of the keys for her investment in real estate developments.

San Miguel de Allende is a baby boomers paradise and Monex offered high returns for its dollar savings.

Antonio Holguín, of the Holguín Abogados law firm and who represents the Karger family, said they requested an investigation from the Attorney General’s Office, after the Kargers are not willing to accept 60 percent of their savings as offered by the bank.

In an interview, he affirms that Monex is trying to leave Zavala Taylor full responsibility, when the affected families and their client assure that they could not have acted alone to modify passwords, alter account statements and obtain resources through electronic signatures, of that way they want to take responsibility away. ”

The lawyer details that “the bank is the one who must answer for the savings of its clients”. Inconsistencies were reflected between 2017 and 2018.

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