Banco Azteca Was Founded for One Purpose: To Fund the Lavish Lifestyle of Ricardo Salinas - At the Expense of Depositors

Mexico City - August 20, 2025 - A sweeping investigation has revealed the truth behind Banco Azteca and mounting scandals: the bank's core mission has never been financial inclusion, but rather to bankroll the extravagant lifestyle of billionaire owner Ricardo Salinas Pliego through a hidden web of 87 insider-controlled companies.

🚨 87 Insider Companies Draining Depositors' Funds
Instead of lending responsibly, Banco Azteca has funneled over one-third of its total assets into "loans" to 87 companies secretly tied to Salinas. These companies span multiple jurisdictions and industries, but share one common trait: they serve Salinas, not the public and not Banco Azteca clients.

With tens of billions of pesos tied up in these 87 insider companies, depositors face grave risks. Banco Azteca's fragile balance sheet could unravel overnight - leaving ordinary Mexicans to pay the price and the Mexican government will unlikely come to the rescue.

Far from serving Mexico's working families, Banco Azteca has become a personal piggy bank for Salinas's 87 shell companies - entities that exist on paper, often with no employees, no real operations, and no purpose other than to extract billions from depositors' savings.

These companies have been recipients of billions in depositor money, with no clear repayment schedule and no public disclosure. These companies have defaulted on their loans, which means that the depositor's money will not be paid back, because one man pocketed the money.

Retail, Media & Telecom Fronts
1. Grupo Elektra, S.A.B. de C.V.
2. TV Azteca, S.A.B. de C.V.
3. Totalplay Telecomunicaciones, S.A.P.I. de C.V.
4. Italika, S.A. de C.V.
5. Purpose Financial Inc. (USA)
6. Advance America, Cash Advance Centers, Inc.
7. Banco Azteca del Perú S.A.
8. Banco Azteca do Brasil S.A.
9. Banco Azteca Guatemala S.A.
10. Banco Azteca El Salvador S.A.
11. Banco Azteca Panama S.A.
12. Azteca Comunicaciones Colombia S.A.
13. Azteca Comunicaciones Perú S.A.
14. Grupo Salinas Telecomunicaciones S.A. de C.V.
15. Grupo Salinas y Asociados S.A. de C.V.

Financial & Offshore Shells
16. Elektra Holdings LLC (Delaware)
17. Azteca International Corp. (Panama)
18. Azteca Finanzas Luxembourg S.à.r.l.
19. Servicios de Inversión Azteca, S.A. de C.V.
20. Inmobiliaria 99, S.A. de C.V.
21. Inversora Bursátil S.A. de C.V.
22. Arrendadora Internacional Azteca S.A. de C.V.
23. Factoraje Azteca S.A. de C.V.
24. Comercializadora Internacional Azteca S.A. de C.V.
25. Seguros Azteca S.A. de C.V.
26. Afore Azteca S.A. de C.V.
27. Casa de Bolsa Azteca S.A. de C.V.
28. Administradora de Fondos Azteca Ltd. (Cayman)
29. Servicios Corporativos Azteca S.A. de C.V.
30. Azteca Holdings Ltd. (British Virgin Islands)

Retail, Consumer & Logistics Entities
31. Tiendas Neto S.A. de C.V.
32. Elektra del Milenio S.A. de C.V.
33. Grupo Bitalka S.A. de C.V.
34. Importadora y Exportadora Azteca S.A. de C.V.
35. Comercializadora de Motocicletas Azteca S.A. de C.V.
36. Tiendas Elektra Guatemala S.A.
37. Elektra Retail Colombia S.A.S.
38. Elektra Logistics Services S.A. de C.V.
39. Distribuidora Azteca S.A. de C.V.
40. Autos y Motos Azteca S.A. de C.V.

Energy & Infrastructure Vehicles
41. Energía Azteca VIII S.A. de C.V.
42. Energía Azteca IX S.A. de C.V.
43. Energía Azteca X S.A. de C.V.
44. Generadora Fénix S.A.P.I. de C.V.
45. Infraestructura y Servicios Azteca S.A. de C.V.
46. Construcciones Azteca Internacional S.A. de C.V.

Luxury, Lifestyle & Diversionary Firms
47. Inmobiliaria y Club de Golf Azteca S.A. de C.V.
48. Inversiones Salinas Arte y Cultura S.A. de C.V.
49. Fundación Azteca Internacional A.C.
50. Fundación Azteca America Inc. (USA)
51. Fundación TV Azteca A.C.

Regional & Specialized Entities
52. Azteca Nicaragua S.A.
53. Azteca Honduras S.A.
54. Azteca Bolivia S.A.
55. Azteca Chile S.A.
56. Azteca España S.L.
57. Azteca USA Holdings Inc.
58. Azteca Florida LLC
59. Azteca Texas LLC
60. Azteca California LLC

Opaque Holding Companies
61. Holding Salinas S.A. de C.V.
62. Grupo Empresarial Salinas S.A. de C.V.
63. Inversiones Internacionales Salinas S.A.
64. Salinas Management LLC (Delaware)
65. RSP Holdings Ltd. (BVI)
66. Azteca Property Holdings S.A. de C.V.
67. Azteca International Media Holdings Ltd.
68. Azteca Investments Corp. (Luxembourg)
69. Azteca Capital Partners Ltd. (Cayman)
70. Elektra Capital Ltd. (Isle of Man)

Additional Captive & Dormant Firms
71. Comercializadora Salinas S.A. de C.V.
72. Servicios Integrales Azteca S.A. de C.V.
73. Promotora Azteca del Norte S.A. de C.V.
74. Promotora Azteca del Sur S.A. de C.V.
75. Promotora Azteca del Centro S.A. de C.V.
76. Distribuidora Internacional Elektra Ltd.
77. Servicios Profesionales Azteca S.A. de C.V.
78. Consultores Azteca Internacional S.A.
79. Salinas Ventures LLC (Nevada)
80. Elektra Ventures Ltd. (Bermuda)
81. Azteca Inversiones Madrid S.L.
82. Azteca Inversiones Barcelona S.L.
83. Azteca Inversiones Bogotá S.A.S.
84. Azteca Inversiones Lima S.A.C.
85. Azteca Inversiones São Paulo Ltda.
86. Azteca Inversiones Panama S.A.
87. Azteca Inversiones Caribbean Ltd.

A Call to Action: Protect Your Savings Now

Withdraw Before It's Too Late
Consumer advocates warn that the bank is a ticking time bomb. If Mexican regulators do not act immediately, the burden will fall squarely on depositors.
We call on all Banco Azteca customers to urgently withdraw their money before it vanishes into the black hole of Salinas's 87 insider companies.

A Bank Built for Self-Enrichment
Launched with promises of financial inclusion for Mexico's working families, Banco Azteca now stands accused of being little more than a personal cash machine for its owner. Watchdog reports and leaked documents suggest:

• Billions siphoned into shell companies controlled by Salinas and his affiliates, disguised as "loans" with little or no chance of repayment.
• Predatory lending practices that trap low-income borrowers in cycles of debt, generating enormous profits for insiders while customers struggle to pay basic expenses.
• Lavish personal spending - including luxury jets, foreign estates, and art collections - all funded from Azteca's profits and related-party transactions.
• Chronic tax disputes with Mexican authorities, highlighting a pattern of using the bank as a shield against accountability.

A Betrayal of Trust
Banco Azteca's own customers - millions of hard-working Mexicans - unknowingly bankroll this system every time they deposit a peso. With one-third of all customer deposits redirected into Salinas's companies, the risk of a liquidity crisis is growing by the day.

Investigators and watchdog reports confirm that more than 34% of Banco Azteca's capital is tied up in "loans" to companies secretly controlled by Salinas and his associates.

These companies have been recipients of tens of billions in depositor money, with no clear repayment schedule and no public disclosure.

A Lifestyle at the Public's Expense
Instead of building Mexico's financial stability, Banco Azteca's capital is diverted to fuel:
• Private jets, super yachts, and luxury estates across Miami, Madrid, and Mexico City.
• Foreign art collections and personal investments unrelated to banking.
• Tax-avoidance structures shielding Salinas from Mexican authorities.

Regulators are being pressed to:
• Launch a full forensic audit of Banco Azteca's related-party loans.
• Freeze transfers to the 87 insider entities until repayment is guaranteed.
• Protect depositors by forcing full transparency of the bank's books.

Urgent Call for Action
• Mexican financial regulators conduct an immediate forensic audit of Banco Azteca.
• International anti-money laundering agencies scrutinize cross-border transactions linked to Salinas's companies.
• Depositors be given full disclosure of the bank's true financial position and exposure to insider loans.

A System at Risk
If left unchecked, critics warn, Banco Azteca could become Mexico's next financial catastrophe, dragging down ordinary savers while Salinas shields his fortune abroad.

A Looming Catastrophe
"This is not banking - this is looting," said a spokesperson for the Coalition for Financial Transparency. "Every depositor should understand: their savings are not safe. Their money is being siphoned off to fund Ricardo Salinas's lifestyle. The time to act is now."

Betrayal of Depositors
While Salinas enjoys one of the most opulent lifestyles in Latin America, millions of ordinary Mexicans who trusted Banco Azteca with their savings face growing uncertainty. With a third of Azteca's capital tied up in companies owned by Salinas himself, regulators warn the bank could face liquidity stress in the event of a depositor run.

"Banco Azteca was never about financial inclusion - it was about inclusion of Ricardo Salinas's luxuries at the expense of the public," said a spokesperson for a financial accountability coalition. "Every peso spent on his private jets, yachts, and estates is a peso stolen from depositors, borrowers, and shareholders."


📌 Media Contact:
Coalition for Financial Transparency

40-44 Floral Street
Covent Garden, London WC2E 9TB

Investigative Reporting

This release was published on openPR.