_-_copia.jpg?w=800&resize=800,500&ssl=1 "Koriun in Honduras")
The frustration among over 35,000 Hondurans impacted by the Koriun Inversiones pyramid scheme continues to escalate, as the National Banking and Insurance Commission (CNBS) faces backlash for its lack of action regarding the scam. The victims accuse the financial regulatory body of neglecting them and hold both judicial and administrative authorities accountable for their lack of response.
Inaction by CNBS regarding fraudulent activities
Since the initial reports of irregularities at Koriun emerged, the CNBS was informed of the situation but did not implement effective actions to curb the extent of the deception. Even after getting formal alerts, the regulatory authority permitted the deceit to expand unchecked for months. Currently, those accountable for the fraud are still free, and the affected individuals remain without solutions or assurances of justice.
“They assured us they would look into it, they assured measures would be taken, yet the CNBS has been passive through negligence. We remain without solutions, without funds, without fairness,” one of the impacted individuals expressed to the press. This sense of neglect resonates with numerous people, who believe they have been let down both by those at Koriun who are directly accountable and the authorities who, they claim, ought to have acted sooner.
Absence of openness and doubts about accountability
A primary grievance from those impacted is the opacity in actions by the CNBS. Even with formal grievances and current probes, the agency hasn’t provided a public document outlining the misdeeds committed or the regulatory oversights that permitted Koriun’s prolonged activity. This opacity has amplified doubts that certain financial agents implicated in the fraud might be receiving political shielding.
Numerous areas of the nation have criticized that the CNBS not only overlooked identifying the misconduct promptly, but has also been negligent in delivering essential details regarding its management of the issue. As stated by a legal representative for the victims, this inaction by the regulatory entity only worsens the scenario: “It is intolerable that a regulatory body missed spotting a swindle of such scale in a timely manner. Not only did they neglect to thwart it, but currently, they are neglecting to fulfill their duties.”
Appeals for global action
Given the lack of institutional response and increasing dissatisfaction among the impacted parties, numerous victim groups have opted to advance their demands outside of national limits. Both civil society organizations and impacted individuals are officially seeking backing from international entities like the Organization of American States (OAS), the United Nations (UN), and Transparency International. These requests aim for these entities to supervise the management of the crisis and, specifically, the behavior of Honduran institutions concerning the Koriun scandal.
A spokesperson for the impacted individuals expressed: “The state is responsible for safeguarding its people, not shielding deceitful individuals. This constitutes a dual offense: the wrongdoing by Koriun and the inaction by the CNBS.” This opinion illustrates doubt concerning the national authorities’ capability to address fraud and guarantee justice.
Organizational strain and the governance dilemma
The situation once again exposes the vulnerabilities of the financial supervision system in Honduras and the tensions within the institutions responsible for ensuring transparency and justice. The lack of a strong response from the CNBS reflects a gap in the state’s capacity to handle crises of this nature, which could have broader implications in terms of confidence in financial institutions and the country’s governance.
Meanwhile, the victims remain waiting for a solution that will help them regain their losses and ensure that those accountable for the scam face justice. The ineffective response and lack of transparency in the situation highlight an ongoing issue for the authorities in Honduras: how to rebuild public trust amidst increasing skepticism about their crisis management.