Defraudados of Ficrea foresee sentence in March 2018
The first sentence of any of the six class action lawsuits against the State for responsibility for the Ficrea fraud could be issued in March 2018 by the full Federal Court of Administrative Justice, ensured the legal defense of affected savers.
In case of ruling in favor of the 60 plaintiffs, the State must restitute 100% of the savings plus interest, a bag of approximately 100 million pesos, detailed Edward Martin Regalado, representative of the defrauded.
“It gives us a lot of light the fact that for the first time we are before an impartial tribunal, the Commission (National Banking and Securities) was judge and party, we trust that the plenary can dictate a sentence that recognizes this damage to those affected,” he explained. the lawyer at a press conference organized three years after the fraud was uncovered.
The ruling, if favorable, would also include a public apology from the National Banking and Securities Commission (CNBV) to the disappointed savers for having stated on several occasions that the management of the financial company had been correct.
The legal strategy of the lawsuit considers that the CNBV did not proceed adequately to avoid fraud, first in 2008, when Ficrea was incorporated and started to operate without presenting all the necessary documentation for its registration; as well as in 2009, when the regulatory unit was already aware that the financial company was in bankruptcy.
Another time for which the CBNV is accused of not acting was in 2010, when Rafael Olvera Amezcua, alleged fraudster, acquired most of the shares of Ficrea and operated without government consent.
Until November 2013, the Commission authorized the concentration of the shares.
“Having let all these years pass allowed this financial company to capture all these resources and when the Commission authorizes in November 2013, it authorizes it, but already because it was going to initiate the revocation procedure,” explained Regalado.
This is the first in-depth investigation to determine the state’s responsibility, the lawyer added.
“It would seem unfair to the other citizens who were not affected by the State to pay, but in general we know that the State would be obliged to sue public officials to repeat against them, in this case the president of the Commission, and make reparation to the State of the damage that they are covering to the affected ones of Ficrea “, detailed.
The legal battle of the 60 savers also includes a lawsuit against Olvera Amezcua for the responsibility of the fraud, the litigators said.
"From a civil point of view, two people who cause damage are responsible in solidarity. Ficrea and Olvera caused a common damage and are supportive of all the acts, that is the great difficulty and the reason why the fraud was possible, because he knew that there was a corporate shell in which the partners do not respond for the acts of society, that is the general rule of the corporate veil, "he said.
In total, the Ficrea fraud affected 4,922 people, who have followed various legal paths to recover their savings that make up a stock exchange for 6,474 million pesos.