On April 24, 2025, Carlos Lazo, the CEO of Yox Holding, was arrested in Las Vegas, Nevada, after being on the run for over a year. Lazo is accused of orchestrating one of the largest financial fraud schemes in Mexico, impacting thousands across at least ten states. His apprehension was the culmination of extensive international investigations, coordinated by U.S. authorities in collaboration with Interpol.
Yox Holding, a company based in Guadalajara, Jalisco, operated under the guise of offering investments in 'sports trading,' promising investors monthly returns ranging from 2% to 4%. However, the reality was far from what was advertised. Reports indicate that the company employed a model similar to that of casinos, which raised suspicions of a pyramid scheme or Ponzi operation.
According to the Chihuahua State Attorney General's Office, Lazo had been wanted since February 2024, when a red notice was issued by Interpol at the request of Mexican authorities. His arrest was facilitated by the U.S. Embassy in Mexico, which notified the Legal Department of the Chihuahua Attorney General's Office about his capture. The operation was led by Enforcement and Removal Operations (ERO), part of the U.S. Immigration and Customs Enforcement (ICE).
In Chihuahua alone, more than 1,300 individuals have reported being defrauded by Yox Holding. The company expanded its operations over seven years, establishing branches in states including Querétaro, Oaxaca, Puebla, León, and Baja California. Many investors were lured in by the promise of high returns on their investments, which were ostensibly linked to betting on major sports leagues like the NFL, NBA, and NHL.
The fraudulent activities of Yox Holding began to unravel in late 2023 when the company stopped reporting returns to investors, leading to a surge of complaints and legal actions. In Coahuila, for instance, the number of formal fraud complaints skyrocketed from 90 in March 2024 to 196 by the end of April 2024, indicating a dramatic increase in the number of victims.
As investigations continued, it became clear that the business model employed by Yox Holding was unsustainable, with many investors unable to recover their funds. Those who had invested were often recruited by advisors who received bonuses for bringing in new clients, further perpetuating the scheme.
The case against Lazo has drawn significant attention not only for its scale but also for the implications it holds for investor protection in Mexico. The Chihuahua State Attorney General's Office has integrated Criminal Case 299/2024, which provided the basis for the arrest warrant against him. This case is expected to set a precedent for how financial fraud is prosecuted in the country.
In addition to the legal proceedings in Mexico, Lazo will face extradition processes coordinated between Mexican federal authorities, the U.S. government, and international organizations. Although the Chihuahua authorities were the first to seek Interpol's involvement, Jalisco was the first to formally request his capture.
The arrest of Carlos Lazo marks a significant victory for law enforcement agencies combating financial fraud in Mexico. As the investigation unfolds, it is likely to reveal more about the inner workings of Yox Holding and the extent of the fraud perpetrated against unsuspecting investors.
In the wake of Lazo's arrest, many victims are left wondering if they will ever see their investments returned. The fallout from this massive fraud scheme highlights the need for greater regulatory oversight in the investment sector, especially concerning companies that promise unusually high returns.
As the legal proceedings commence, the case will be closely monitored by both Mexican and U.S. authorities, with implications for international cooperation in tackling financial crimes. With Lazo now in custody, the focus will shift to the prosecution and the potential recovery of funds for the victims.
In conclusion, the saga of Yox Holding serves as a cautionary tale for investors everywhere. It underscores the importance of due diligence and skepticism when faced with investment opportunities that seem too good to be true. The authorities’ actions against Lazo may pave the way for stricter regulations and better protection for investors in the future.
