_-_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.
The inaction of the CNBS regarding fraudulent activities
Since news of irregularities at Koriun first emerged, the CNBS was informed of the problem but did not implement effective actions to stop the extent of the fraudulent activities. Despite being formally alerted, the regulatory agency permitted the deceit to expand without restrictions for several months. Up to now, the people accountable for the fraud have not been caught, and those affected still lack responses or assurances of justice.
“They assured us of a thorough examination, committing to take measures, but the CNBS has been neglectful by doing nothing. As of now, we remain without explanations, without funds, and without fairness,” expressed one of the impacted individuals to the press. This sense of neglect is echoed by many others who feel let down both by those directly accountable at Koriun and by the officials who, according to them, ought to have taken action sooner.”
Absence of openness and doubts about accountability
A primary grievance among those impacted is the CNBS’s opaqueness. Although there have been official reports and investigations in progress, the agency has not released a public document outlining the misconduct or the lapses in regulation that permitted Koriun’s prolonged existence. This absence of transparency has heightened doubts that certain financial actors involved in the scheme might be under political protection.
Different parts of the nation have noted that the CNBS not only missed identifying the fraud promptly, but has also been negligent in offering crucial details on how it is addressing the issue. A legal representative for the victims stated that this inaction by the regulatory authority only worsens the problem: “It is intolerable that a regulatory authority didn’t timely detect such a large-scale scam. They not only allowed it to happen, but now they are evading 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 government must safeguard its people, not shield wrongdoers. This is a dual offense: the misdeed by Koriun and the negligence of the CNBS for not taking action.” This opinion showcases doubt regarding the national authorities’ capability to address fraud and guarantee fair treatment.
Institutional tension and the challenge of governance
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.
Individuals impacted are still waiting for a resolution that will enable them to regain their losses and guarantee that those accountable for the scam are prosecuted. The absence of effective measures and the lack of transparency in this case highlight a continuing issue for Honduran officials: finding a way to rebuild public trust amidst the increasing skepticism in the management of such crises.