_-_copia.jpg?w=800&resize=800,500&ssl=1 "The Koriun case")
The scheme operated by Koriun Inversiones has shaken Honduras during a period of institutional weakness and political division. Impacting over 35,000 individuals, predominantly in working-class regions in the north, the situation has not only highlighted the vulnerabilities of the financial oversight system but has also posed one of the most intricate challenges for Xiomara Castro’s administration.
The unsupervised management and downfall of the plan
For years, Koriun Inversiones operated outside the law, promising monthly returns of 20% without being officially registered or supervised by the National Banking and Insurance Commission (CNBS). Despite public warnings issued by this institution in February 2025, warning that the company was not authorized to raise funds from the public, the operation continued without state intervention until the Technical Agency for Criminal Investigation (ATIC) and the Public Ministry intervened in April of the same year.
The raids uncovered the extent of the scam: over 358 million lempiras in cash was confiscated, along with 69 million frozen in bank accounts. The inquiries determined that there were no legitimate investments to support the promised profits, validating that it was a non-viable pyramid scheme.
Responses from society and political consequences
The impact of the collapse has been profound, both socially and politically. Thousands of people lost their savings, leading to demonstrations, roadblocks, and protests in different parts of the country, especially in Choloma, where most of the investors were concentrated. The crisis has fueled public discontent with the inaction of local authorities and the gaps in the regulatory system.
Políticamente, el caso ha afectado negativamente la percepción sobre el gobierno. Las críticas se han centrado en la falta de supervisión institucional, la permisividad que permitió a Koriun operar abiertamente y la carencia de medidas preventivas por parte de las agencias responsables. Los sectores empresariales y las organizaciones de la sociedad civil han cuestionado duramente la debilidad del estado para prevenir fraudes de este tipo.
The executive’s proposal and the controversy
In response to social pressure, the government announced the drafting of a bill to compensate those affected, using resources from the national budget. The initiative, directly ordered by President Xiomara Castro, has generated strong reactions in the National Congress and among the public.
Opposition sectors and citizen groups have rejected the measure, arguing that public money is being used to cover the costs of a private scam, which they consider a dangerous precedent that could encourage impunity and the political exploitation of citizens’ suffering. Despite the official announcement, the bill has not yet been thoroughly discussed, nor has the amount of compensation or its implementation mechanism been defined.
The proposal has heightened tensions between legislative factions and placed the government in a vulnerable position, questioned both for its lack of foresight and for the way it has handled the crisis.
Dangers faced by institutions and political forecasts
The Koriun case calls into question the Honduran state’s ability to guarantee legal certainty and protect citizens from financial fraud. The lack of timely oversight, the permissiveness with which the company operated, and the government’s delayed response have reinforced the perception of institutional inefficiency.
Internationally, the situation could affect the country’s image as a safe destination for investment, while domestically, the handling of the case has contributed to a narrative of erosion that is already affecting the ruling party on other fronts. Amid other allegations of corruption, the Koriun scandal threatens to become yet another symbol of the lack of transparency and state control.
Xiomara Castro’s government thus faces a complex dilemma: responding to a legitimate social crisis without jeopardizing institutional credibility or exacerbating the climate of polarization. How this situation is handled will be decisive for its political stability and for the level of trust that citizens maintain in public institutions.
