Posted on 09/29/2019 9:49:36 AM PDT by aimhigh
NBC News spoke to nine American families who say Marcela Zavala Taylor, a former banker with Grupo Financiero Monex, had gained their trust only to disappear after they discovered money had gone missing from their personal accounts. These families, whose estimated losses total more than $7 million dollars, all say they were blindsided by what had happened.
(Excerpt) Read more at nbcnews.com ...
Mexico’s identifying attribute is corruption. It permeates every facet of their society.
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Yes, but also don't let emotions and supposed friendships sway your financial decisions either. Consider these quotes:
"She was a very warm person," said Jim Karger, who, like the Machirs, alleges Taylor took advantage of his trust.
"She wanted to know about your family. I knew about her family. We didn't consider Marcela Zavala our banker, we also considered her our friend," Karger said.
Hey, amigos, you are in a FOREIGN banana republic country corrupt as all get out and run by drug cartels. I guess it isn’t all margaritas and salsa dancing there, huh?
Mexico’s identifying attribute is corruption. It permeates every facet of their society.
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And this culture is worming its way into ours.
100 bucks and an hour each way.
For those that still like to visit Mexico, both towns are worth seeing in depth.
Give it a day or so and the someone in the media will twist this as Trump’s fault.
Not necessarily. I didn't read the whole article but I am sure there are other ways this could have been accomplished without having provided signature authority. If that is the case, then they have no one to blame but themselves, and their own stupidity.
Mexico is a foreign country, and their ethics do not necessarily parallel those in this country.
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Because of unchecked immigration, the steady erosion of our morals, and outright greed we too are rapidly becoming a kleptocracy. We are well on our way to becoming just another banana republic.
How sad, but a lesson to others.
I’ve heard that many expats keep their money in an American bank.
If you really want to retire in another country, please have your eyes wide open.
There are other pitfalls in Mexico too. I’ve heard that Mexico has laws placing big restrictions on property ownership by foreigners. Property rights in Mexico just don’t work the same way as in America. Again, buyer beware and know what you are getting into.
And who knows about the future, with the drug cartels having so much power in Mexico. If there is ever a revolution in Mexico, and the government is overthrown, then all bets are off anyway.
“They had to have given her signature authority over their accounts. There aren’t many people I know that I would trust with that responsibility.”
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Exactly. I read this last night and said to myself,”Stupid,stupid,stupid.”. These people are idiots.
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Surprise, surprise. I lived in SoCal, went to Mexico a few times. It was dangerous back then in the ‘70s and is a thousand times worse now. No American should even consider retiring there.
I would never have seen that coming...err...going.
Exactly. They could even just use a US bank ATM or credit card and pay bills online using their US acct. Why did they think they needed their money close to where they lived?
What a shock!
Ex-pat here.
Allegedly because of the Patriot Act (but in reality because of the fear by corporate heads of "claw-back" after the 2008 crash and subsequent legislation), Americans living abroad are finding it increasingly difficult to maintain banking connections in the U.S.
More and more banks are demanding a U.S. postal address. Investment houses (Merrill-Lynch et al.) are unilaterally cancelling the accounts of Americans living abroad.
Yes, I'm sure that there are various ways to "finesse" the system (involving slight subterfuge - like maintaining a joint account with a brother who resides in the States), but lifeline after lifeline is failing. It may one day become impossible for an "average" American to do.
Regards,
>Surprise, surprise. I lived in SoCal, went to Mexico a few times. It was dangerous back then in the ‘70s and is a thousand times worse now. No American should even consider retiring there.
Are you referring to SoCal or Mexico? Not much difference these days
I knew a couple who had a second home in Mexico.
They showed up one year and other people were living in it.
When they contacted the local authorities there was no record that they had ever owned it!
Local attorneys said they had no recourse.
They learned that lesson the hard way.
It’s an Electronic “Iron Curtain”.
cause for mass shootings
Yeah but, just think of all the money they saved on taxes!
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