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larrywww

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One of the most established retirement areas in Mexico, San Miguel De Allende, has apparently avoided the violent crime wave that has hit much of Mexico.

But the problem with living in Mexico is the absence of reliable infrastructure and a reliable legal system.

Monex De Bolsa, a bank located there, has multiple expatriate bank accounts that were looted----over 40 million dollars in 158 accounts----and is only offering to settle the theft with a fraction of what is owed.  A bank officer accused of the theft had been sending them false bank statements---and then suddenly there was nothing in their accounts.  The bank officer was able to change logins, to wire out funds and make other changes to the accounts.

The banker accused of the theft---is a relative of the mayor.  She was offering returns of 14% early on---a promise too good to be true.

The bank fraud claims against Mexican banks have doubled since 2014.

https://www.msn.com/en-us/money/markets/americans-life-savings-disappear-from-mexican-bank-accounts/ar-AABNfHw
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