Massive Fraud in Mexico’s Housing Institution Exposed
A deep-rooted corruption network inside Infonavit, Mexico’s National Workers’ Housing Fund Institute, has been uncovered by its director, Octavio Romero Oropeza. During a press conference on December 18, 2024, Romero revealed billions of pesos lost in fraudulent transactions, illegal indemnities, and questionable real estate deals across multiple administrations.
These revelations come at a time when Infonavit is undergoing a major reform after the Mexican Senate approved changes on December 13, 2024. However, despite the severity of the accusations, no legal actions have been announced against past directors.
Case 1: Telra Realty – A 5 Billion Peso Fraud
One of the most shocking cases involves Telra Realty, a company hired in 2014 to manage mortgage transfers for workers relocating. Initially contracted for 100 million pesos, Telra Realty later received an illegal indemnity of 5 billion pesos.
How Did the Scam Work?
- The company failed to deliver the agreed services within the two-year deadline.
- Instead of being penalized, Infonavit paid Telra Realty a massive compensation.
- The Auditoría Superior de la Federación (ASF) later discovered that part of this money was transferred through a government official’s bank account, proving fraud.
- The Fiscalía General de la República (FGR) recovered 2 billion pesos but the remaining 3 billion are still missing.
Key Figures Involved:
- Alejandro Murat Hinojosa (Former Infonavit Director & PRI Senator)
- David Penchyna Grub (Successor of Murat, approved the indemnity)
- Rafael Zaga Tawil & Elías Zaga Hanono (Businessmen with arrest warrants)
Case 2: 575 Million Pesos Lost in Fake Housing Projects
Between 2017 and 2018, Infonavit approved 22 housing projects under the Línea III Program, which funds real estate developers to build affordable homes. However, these projects were never completed, leaving Infonavit with a 575 million peso debt.
Key Irregularities:
- Developers received funding but never built the homes.
- At least 18 other developers owe an additional 768 million pesos.
- Some developers even received workers’ savings funds, totaling 82 million pesos.
States with the Highest Fraud Cases:
State of Mexico
Jalisco
Baja California
Case 3: A Housing Scam That Sold the Same Homes Multiple Times
A complex real estate fraud was discovered where 1,400 homes were resold multiple times within the same year. This scheme involved:
Notaries, law firms, and corrupt evaluators working together.
Workers unknowingly paying up to 40% of their savings for a house they never received.
At least 12,000 fraudulent mortgages issued.
The estimated loss from this scam is over 200 million pesos, and investigations are ongoing.
Case 4: Illegal Mass Evictions
Between 2013 and 2015, 60,000 Infonavit homeowners lost their homes through fraudulent legal actions. The Unidad de Inteligencia Financiera (UIF) found that:
- Infonavit paid 3.6 billion pesos to four law firms to handle home repossessions.
- These firms colluded with corrupt judges and notaries to illegally evict homeowners.
- No homes were recovered, yet the law firms pocketed the money.
Despite these findings, no former officials have been prosecuted.
Case 5: The 550 Million Peso Insurance Scam
Between 2013 and 2014, Infonavit illegally contracted a 550 million peso insurance policy with Mapfre Tepeyac S.A. The policy was useless because it only covered deaths caused by natural disasters or pandemics, making it nearly impossible to claim.
The Key Problem:
Workers never knew about this insurance policy.
Their savings were used to pay for it.
Will There Be Legal Action?
Despite massive evidence of fraud, missing funds, and illegal real estate transactions, no legal action has been taken against former Infonavit directors.
President Claudia Sheinbaum has focused on implementing reforms to prevent future corruption, but critics argue that past crimes should not go unpunished.
Will justice be served? Or will this be another case of high-level impunity?
