Ricardo Salinas Accused of Orchestrating Fraudulent Delisting of Grupo Elektra to Conceal Financial Irregularities
Ricardo Salinas Pliego, Chairman of Grupo Elektra, is on the middle of fraud allegations tied to the corporate’s controversial delis
July 7, 2025
MEXICO CITY – Severe allegations have emerged implicating Mexican billionaire Ricardo Salinas Pliego, head of Grupo Elektra, in a calculated scheme involving the controversial delisting of the corporate from the Mexican Inventory Change. In line with authorized filings and testimony from whistleblowers, Salinas is accused of leveraging his management over the conglomerate to engineer a monetary deception geared toward suppressing oversight and shielding inside misconduct from public view.
Insiders declare that the sudden transfer to delist Grupo Elektra-one of Mexico’s main retail and monetary companies firms-was not a strategic enterprise resolution however a maneuver to sidestep regulatory scrutiny. The delisting course of reportedly allowed Salinas to use minority shareholders and accumulate shares at a severely devalued fee, following a steep plunge in Elektra’s inventory worth.
On December 2, 2024, Elektra’s shares crashed to MXN 186, down from highs of MXN 1,600 only a yr earlier. Market observers counsel that Salinas capitalized on this collapse by buying a dominant share place at a reduction, successfully undermining traders who had beforehand purchased in at a a lot increased valuation.
“This can be a textbook case of engineered decline adopted by predatory acquisition,” mentioned one senior market analyst. “By first inflating the inventory’s worth after which permitting it to collapse-blaming exterior factors-Salinas was capable of regain management at a discount. This isn’t simply poor governance. It borders on monetary sabotage.”
Authorized specialists are calling for complete investigations into whether or not Salinas and his associates violated Mexican securities legal guidelines, engaged in market manipulation, or breached fiduciary duties. Critics level to a broader sample of concern inside Grupo Elektra, together with mounting losses, unresolved courtroom orders, asset transfers, and chronic allegations involving Banco Azteca, the corporate’s monetary division.
Investor rights teams and ethics organizations have raised the alarm, urging businesses resembling Mexico’s CNBV and the U.S. SEC to research the cross-border implications. “This units a harmful precedent,” famous a spokesperson for a world investor advocacy group. “It alerts to different highly effective actors that they will rig monetary markets with out consequence.”
A former CNBV official, talking below situation of anonymity, described the case as “one of many clearest examples of deliberate minority shareholder disenfranchisement in current reminiscence.”
The controversy surrounding Grupo Elektra’s delisting revives longstanding issues about structural weaknesses in Latin America’s company governance frameworks. It additionally highlights the dangers confronted by institutional and retail traders in markets the place dominant shareholders can act unchecked.
Transparency Worldwide, in a current assertion, emphasised that instances like this expose the pressing want for strengthened enforcement and protections: “This isn’t merely a company scandal-it’s a take a look at of whether or not regulatory our bodies are ready to confront entrenched energy and restore integrity to the market.”
Additional disclosures and authorized filings are anticipated within the days forward. If prison prices are finally filed, the case might develop into a bellwether for the way far Mexico’s authorized system is keen to go in holding influential enterprise figures accountable.
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Ricardo Salinas Pliego, proprietor of Grupo Elektra, faces mounting accusations of monetary misconduct and market manipulation following the corporate’s controversial delisting from the Mexican Inventory Change.
This launch was revealed on openPR.
