Rs 450000000000: Billionaire lost huge amount of money chasing cheap..., his name is...
Even billionaires with global fame and business empires can be fooled if they aren't careful. This was recently proven by the shocking experience of Mexican billionaire Ricardo Salinas Pliego. It all started with a flashy website, a well-known American family name, videos of a fancy office, and an offer that seemed too good to be true which is a loan at an unbelievably low interest rate. All of this looked real and convincing, even to a smart and experienced businessman like Salinas.
Once the truth came out, Salinas not only lost his chance to invest in Bitcoin, but his company's stock also crashed by over 70 per cent. This led to huge losses, both for him personally and for his business. Lost Rs. 45,000 crore to global scam
Ricardo Salinas, the owner of Grupo Salinas and one of the richest people in Latin America, has revealed that he fell victim to an international scam network. As a result, he lost around 25 per cent of his total wealth, which is about USD 5.5 billion or over Rs. 45,000 crore.
Now, Salinas and his legal team are working to fight back against this widespread fraud ring operating across the world. 'I felt like a fool,' says Billionaire Ricardo Salinas
Mexican billionaire and Grupo Salinas owner Ricardo Salinas Pliego openly admitted in a Wall Street Journal interview that he was tricked by an extremely well-planned scam. The fraud cost him 25 per cent of his total wealth which is around USD 5.5 billion, or Rs. 45,000 crore. 'I felt like a fool,' Salinas said while talking about the shocking experience. How did the scam happen to Ricardo Salinas?
In 2021, Salinas began the process to take a USD 400 million loan so he could invest in Bitcoin. The loan was to be secured using shares of his company, Grupo Elektra, as collateral.
A Swiss financial advisor helped arrange the deal, introducing Salinas to a company called Astor Capital Fund. It was claimed to be connected to the well-known Astor family in the U.S., giving the entire setup a sense of trust and legitimacy.
The scam involved: A convincing company name
A polished website
High-end office videos
And a tempting offer of low-interest loans
As part of the loan scheme, a man using the name Thomas Astor Malone offered Salinas a loan at an unbelievably low interest rate of just 1.15 per cent. Everything looked convincing from the company's website, professional branding, to even the video showing their office in New York. Shocking truth behind the fake identity
Later investigations revealed that Thomas Astor Malone was actually Alexey Skachkov, a Ukrainian criminal living in Georgia, USA, with a past involving drug crimes and jewelry theft.
But the real mastermind was Vladimir Sklarov, a Ukrainian-born U.S. citizen with a criminal record dating back to the 1990s. Sklarov used the scam to gain control over Grupo Elektra's shares, which were then sold in the market, causing massive financial damage. Elektra's stock crashed 71 per cent, billions lost Elektra's share price dropped by 71 per cent
Salinas personally lost USD 5.5 billion
The company's market value shrunk by USD 4 billion Not just Salinas, many others were trapped
According to The Wall Street Journal, Vladimir Sklarov scammed not only Ricardo Salinas but also investors across the US and UK and Asia, taking control of shares worth over USD 750 million. Salinas's legal team has already managed to get USD 400 million frozen through a London court and is now tracking where the money actually went. Where is Sklarov now?
As per the report, Sklarov is currently living on a yacht named Enchantment off the coast of Greece. He denies doing anything wrong and claims that all the investors were aware their shares could be transferred to third parties under the agreements they signed.
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