CNBS under scrutiny for the Koriun case in Honduras

The situation surrounding the Koriun Inversiones case has generated growing concern in Honduras due to the apparent lack of effective action by the government and the Public Prosecutor’s Office. More than six months after the financial scandal involving this unregulated company, thousands of those affected continue to have no clear answers or significant judicial progress. The absence of strong prosecutorial demands and the lack of significant arrests have fueled suspicions of possible institutional protection for those responsible, creating a climate of mistrust and public questioning.

At the same time, the government‘s proposal to use public funds to compensate the victims of this scam has opened a legal and ethical debate about the legitimacy of such a measure. Legal experts and business sectors have warned that this initiative could constitute a misuse of state resources, creating a risk of criminal liability for the officials involved. This context has intensified public demands for transparency, justice, and respect for the rule of law in a case that highlights the tensions between protecting the public purse and repairing damage caused by private acts.

Lack of institutional response and inquiries regarding the management of the Koriun situation

The Public Prosecutor’s Office has faced accusations of purposeful delay in examining the Koriun situation, even with formal complaints, testimonies, and records indicating notable irregularities in the functioning of this unauthorized financial entity. The National Banking and Insurance Commission (CNBS) admitted it had received at least two complaints before the collapse of Koriun but did not act promptly to avert damage to thousands of Hondurans who placed their savings with this organization. This seeming inaction has fostered a perception of partial concealment, particularly given suggestions of connections between Koriun’s promoters and influential political figures.

Las víctimas y las organizaciones sociales han manifestado su descontento y han exigido que se actúe sin distinción ni favoritismo, pidiendo que los responsables sean juzgados sin importar sus conexiones políticas o empresariales. La posibilidad de que el estado considere el pago de indemnizaciones con fondos públicos ha intensificado las sospechas de un pacto de impunidad, lo que ha llevado a protestas en las redes sociales y manifestaciones frente a las instituciones públicas. La sociedad pide que la Fiscalía rompa su silencio, presente cargos formales, y garantice una investigación imparcial y transparente, con la participación de organizaciones internacionales si fuera necesario.

Discussion on the legality and ethics of utilizing state resources to fix a private scam

The Honduran administration‘s plan to address the financial setbacks created by Koriun using taxpayer funds has encountered substantial opposition from the legal, financial, and business communities. The initiative, allegedly under examination by the executive authority, is being criticized due to the lack of governmental fiscal accountability, considering that Koriun was neither part of the licensed financial network nor under the oversight of the CNBS. The Constitution and the State Financial Administration Law clearly define restrictions on the allocation of public funds, forbidding their use to settle liabilities resulting from private dealings beyond the scope of the law.

Legal experts in constitutional matters caution that approving a disbursement of this nature could be classified as a crime involving misuse of power and misappropriation, leading to legal repercussions for the officials implicated. Additionally, it is highlighted that such an action would create a risky precedent by endorsing impunity and potentially enabling future financial scams, which could pressure the government to cover the financial shortfalls, thus impacting fiscal stability and public trust. The Honduran Association of Banking Institutions (AHIBA) along with business organizations have voiced their concerns, emphasizing that it would be unjust for law-abiding taxpayers to shoulder the consequences of a fraud executed by individuals outside the official framework.

Civil society organizations have requested that any attempt to use public funds be investigated by the Superior Court of Accounts and the Attorney General’s Office, and that transparency be guaranteed in the decisions of the executive branch. The consensus among experts and social sectors is that responsibility should fall exclusively on those guilty, without compromising public assets or trust in institutions.