Americans' Life Savings Wiped Out In Mexican Bank Fraud Scheme

I just read this article on ZeroHedge and thought I would post it here.

https://www.zerohedge.com/news/2019-05-29/americans-life-savings-wiped-out-mexican-bank-fraud-scheme

U.S. retirees moving their savings to Mexico beyond a minor amount in a Mexican bank for normal cash and transaction needs down here are looney. So, you can get 40% interest on your savings. 40% of zero is zero. Been here 20 years and keep daily cash working capital I can afford to lose in a savings account at Bancomer. My U.S. savings is easily and always accessable right away and safe.

Scroll down on this section of the forum and read "Heads up Monex". That is where your post should be. It has already been covered on both Chapala.com and this forum.
Nobody should put much money in ANY Mexican financial institution... or only as much as you're willing to lose.

This was cussed and discussed on the thread "Heads Up Re Monex".

The question is: "what were they thinking?". The answer is "probably not thinking".