CNBV is jointly responsible for the damage caused by Ficrea

Almost three years after the management intervention of the popular financial company Ficrea to more than 6,800 savers, those affected continue to be reported to the authority for their alleged co-responsibility in the case, which has led to the fact that in all this time they have not recovered the all of its resources.

In conference, Edward Martín Regalado, founder of the office Regalado & Galindo, indicated that before a mercantile contest that does not guarantee that they recover all their resources, there are only two actions that are viable for this to happen: a lawsuit against the State or a complaint against Rafael Olvera Amezcua, who was the owner of this financial institution.

“The National Banking and Securities Commission (CNBV) did not act on Ficrea according to the standards required by law,” explained the lawyer who has filed several class actions against the State, on behalf of 60 affected, and it is expected that the next year the Federal Court of Administrative Justice (TFJA) issued a ruling on the matter.

“Who supervises is co-responsible. Among the grounds of the claim is that this supervisory body did not verify that Ficrea complied with all the requirements before starting operations (…) that the CNBV had knowledge since 2011 of the main breaches and evidences that they invoked in November 2014 to intervene managerially to Ficrea “, added Martín Regalado.

The lawyer indicated that, almost three years after the CNBV management intervention to Ficrea, which prevented the savers from accessing all of their savings, the injured have faced a total opacity to know where their resources are.

“The affected ones left there (in Ficrea) their money and they are the ones who would have the right to obtain all the information about what has been done since then with their money, because it is theirs, and neither has there been such transparency,” he explained.


Regarding the actions against the State that this office has undertaken so that those affected recover their entire assets, Martín Regalado commented that this case, being in an impartial body such as TFJA, is analyzed in depth, which has not happened in the past. other actions that have been undertaken by different affected.

“It gives us much light that for the first time we are before an impartial tribunal, we trust that the plenary session of the TFJA can issue a judgment recognizing this damage to those affected and, in addition, we are asking that the president of the CNBV be publicly apologized to all savers for their responsibility (in the damage), “he explained.

Questioned about the other processes that have been undertaken, Martín Regalado commented: “To sue in a mercantile or civil trial to Ficrea is not difficult and to win either. What is difficult is to charge him and execute the sentence if it is not through the bankruptcy. ” explained and added that it is complicated that through this mechanism the creditors recover all their resources, because so far they have not even charged 20% of what they are owed.

“The exit where they could recover 100% with interest on their assets is the lawsuit against the State and the direct demand against Olvera, because the state is more than solvent and the state too,” he said; However, he said that directly demanding the owner of Ficrea is onerous because this character is in the United States.

He said that the process he has undertaken will take time, because although there is a resolution of the TFJA, this instance does not have the last word, because the sentence could be challenged before a Collegiate Circuit Court or before the Supreme Court of Justice of the Nation.

Martín Regalado pointed out that in all this time that various criminal actions have been carried out, the CNBV has done everything to delay a resolution on the matter, which, paradoxically, is encouraging: “The commission does not want to get into the bottom of our demands, because he is afraid that it will be resolved. “

Source: The Economist

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