$5.5 billion wiped in one day: How a Mexican billionaire lost billions in online scam
Ricardo Salinas Pliego, a Mexican billionaire, lost a significant portion of his fortune, around $5.5 billion, in a sophisticated "loan-to-own" scam. Con artists posing as descendants of John Jacob Astor lured him into borrowing $400 million against his Grupo Elektra shares.
Ricardo Salinas Pliego, a Mexican billionaire, lost a significant portion of his fortune, around $5.5 billion, in a sophisticated "loan-to-own" scam. Con artists posing as descendants of John Jacob Astor lured him into borrowing $400 million against his Grupo Elektra shares.
