Mexican Billionaire Among Others Fooled In Whopping $450 Million Stock-Backed Fraud Scheme

On May 5, the U.S. Attorney’s Office for the Southern District of New York recently charged a U.S. man with committing a major wire fraud scheme. The suspect used multiple aliases to defraud people.

The fake stock market-backed investment scheme was purportedly linked to the famed Astor family. Aside from several victims, the fraudster also defrauded one of Mexico’s reputed billionaires.

The 63-year-old suspect went by multiple aliases, including Vladimir Sklarov, Gregory Mitchell, and Mark Simon Bentley. He allegedly operated a well-planned stock-backed lending scheme and defrauded an individual out of millions of dollars through company shares.

Sklarov set up a fake company in the name of Astor Asset Group and pretended to be a trustworthy loan provider who was connected to one of America’s wealthiest families. He then liquidated the shares gathered for his own benefit.

While the court documents in U.S. do not mention the names of the victims, litigation in England, however, revealed one of them to be Ricardo Salinas Pliego. The Mexican billionaire later confirmed being fooled by the fraudster and shelling out a massive $450 million in the scheme.

Speaking with The Wall Street Journal in an interview in 2025, the television, banking and business magnate stated, “I feel like an absolute idiot. How could I fall for this?” Court documents disclose that the fraud involving Pliego occurred in 2021. He sought a $100 million loan that he intended to secure with shares of his company.

Sklarov duped the billionaire by claiming to be Gregory Mitchell, the apparent managing director for the Astors. He, along with some of his conspirators, convinced Pliego to transfer shares of his company as collateral for the loan. Once handed over, the suspect sold the shares and used the proceeds to lend money to the billionaire. He kept the remaining money for himself and his co-conspirators.

It was finally in July 2024 that the Mexican businessman realized the fraud that had been committed after he became aware of the liquidated shares of his company. He then received a letter from the fake Astor member stating that Pliego had defaulted on his loan and that he therefore had the right to sell the shares.

The 63-year-old Ukrainian American fraud suspect is said to be a native of Athens, Greece. The indictment states that the suspect is charged with one count of conspiracy to commit wire fraud, one count of wire fraud and one count of conspiracy to commit money laundering.

Given the charges, each count carries up to 20 years in prison. However, the final sentence will be determined by the judge. Moreover, the charges will apply only if the defendant is found guilty.

A statement from the Attorney’s office urged the need for alertness among investors and businessmen. It could help protect them from such untoward incidents.

District Judge Analisa Torres mentioned, “We urge investors in all sectors of the market to beware of fast talkers and smooth talkers who hide behind prestigious labels and cosmetic signs of wealth and access. And refer fraudsters, pretenders, and cheats to the SEC, FINRA, the FBI, and the DOJ. Our Office will continue to protect the integrity of the markets by pursuing bad actors who abuse trust and exploit others.”