Ricardo Salinas Accused of Orchestrating Fraudulent Delisting of Grupo Elektra to Conceal Financial Irregularities

Ricardo Salinas Piego, chairman of Grupo Elektra, is central to the accusations of fraud certain by the controversial deli’s of the corporate

July 7, 2025

MEXICO CITY – Severe allegations have arisen when implying the Mexican billionaire Ricardo Salinas Pliego, head of Grupo Elektra, in a calculated schedule involving the controversial deletion of the Mexican inventory trade firm. In response to authorized archives and testimony of whistleblowers, Salinas is accused of utilizing his management over the conglomerate to have interaction financially dishonest aimed toward suppressing supervision and defending the general public misconduct of the general public.

Insiders declare that the sudden swap to Drapo Elektra-One of many main retail and monetary service suppliers of Mexico was not a strategic enterprise determination, however a maneuver to avoid the investigation investigation. It’s mentioned that the Salinas cancellation course of allowed to take advantage of minority shareholders and to build up shares at a critically devalued charge, after a steep cap within the share worth of electrical energy.

On December 2, 2024, the shares of electrical energy crashed on MXN 186, by a 12 months earlier of the highlights of MXN 1,600. Market observers recommend that Salinas has capitalized from this collapse by gaining a dominant share place with a reduction, which implies that traders have been successfully undermined who had beforehand bought with a a lot greater appreciation.

“It is a guide case of Engineered Decline, adopted by predatory acquisition,” mentioned a senior market analyst. “By first blowing up the worth of the shares after which permitting collapse-accusing exterior factors-salinas to have the ability to get management again at a cut price. This isn’t solely unhealthy governance. It borders on monetary sabotage.”

Authorized consultants ask for in depth investigations into whether or not Salinas and his affiliated corporations have violated Mexican securities legal guidelines, are concerned in market manipulation or fiduciary duties. Critics level to a broader sample of concern inside Grupo Elektra, together with rising losses, unresolved judicial orders, assetorums and chronic allegations with Banco Azteca, the monetary division of the corporate.

Investor rights and moral organizations have lifted the alarm and have urged companies equivalent to Mexico CNBV and the US SEC to analyze the cross -border implications. “It is a harmful precedent,” a spokesperson famous of a worldwide curiosity group for traders. “It signifies to different highly effective actors that they’ll harness the monetary markets with out penalties.”

A former CNBV officer, who spoke underneath situation of anonymity, described the matter as “one of many clearest examples of intentional minority shareholder in latest reminiscence.”

The controversy surrounding the deletion of Grupo Elektra revives lengthy -term considerations about structural weaknesses within the company governance frameworks of Latin -America. It additionally emphasizes the dangers through which institutional and retail traders are confronted in markets the place dominant shareholders can act uncontrollably.

Transparency Worldwide emphasised in a latest rationalization that instances equivalent to these expose the pressing want for strengthened enforcement and safety: “This isn’t solely a enterprise scandal-it is a check or regulatory authorities keen to confront the deep-rooted energy and restore integrity for the market.”

Additional disclosures and authorized archives are anticipated within the coming days. If in the end prison expenses are submitted, the case can turn into a Bellwether for the extent to which the authorized system of Mexico is keen to keep up influential enterprise figures.

Left: https://www.reuters.com/business/retail-consumer/shares-mexicos-elektra-slide-wiping-out-day-earlier-gains-2024-12-04/

https://www.ainvest.com/news/salinas-moves-delist-flagship-elektra-in-wake-of-share-plunge-241210832BD2D3491461D/?utm_source=chatgpt.com

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Ricardo Salinas Plego, proprietor of Grupo Elektra, is confronted with rising accusations of economic misconduct and market manipulation after the controversial deletion of the corporate of the Mexican inventory trade.

This launch is revealed on OpenPR.