Archive · 30 Jul 2025
Mexican Billionaire Scammed Out of $400M, Says "I Feel Like An Idiot"
A rich man in Mexico was tricked by scammers pretending to be from a wealthy family.
They convinced him to take out a loan so he could buy more Bitcoin.
He used stock from his company as a promise to pay back the loan.
The scammers then secretly sold the stock and used the money to buy fancy houses.
When the man tried to pay back the loan, the scammers said he couldn't.
The main scammer had done this before, using different names to trick people.
Mexican billionaire Ricardo Salinas Pliego was scammed out of approximately $400 million in a "loan-to-own" scheme.
Fraudsters, including Vladimir Sklarov, posed as descendants of the Astor family to gain the billionaire's trust.
Salinas Pliego sought a loan to expand his Bitcoin holdings, using his Grupo Elektra stake as collateral.
The scammers secretly sold off the collateral and used the money to purchase luxury properties.
The scheme was uncovered when Salinas Pliego attempted to prepay the loan, and Astor Capital issued a default notice.
- Who
- Ricardo Salinas Pliego was the victim, and Val Sklarov was the mastermind.
- What
- Mexican billionaire Ricardo Salinas Pliego was scammed out of $400 million in a "loan-to-own" scheme.
- When
- In 2021.
- Where
- The scam involved properties across the US and Europe.
- Why
- The scammers sought to steal the billionaire's assets for personal enrichment.
- Victim
- Ricardo Salinas Pliego
- Loss
- $400 million (approx.)
- Scammers
- Val Sklarov and associates
- Scheme Type
- "Loan-to-own"
- Collateral
- Grupo Elektra stock
- Properties Purchased
- Luxury real estate across US and Europe