Carlos Lazo, the Venezuelan executive accused of defrauding thousands of investors, has been deported from Las Vegas to Venezuela. There, he faces charges for his role in a $1.88 billion fraud scheme. The fraud has impacted 3,675 individuals who invested in the financial company Yox Holding. The Jalisco State Prosecutor’s Office has urged his extradition. They emphasize the need for him to stand trial in Mexico.
Detained in Las Vegas, Deported to Venezuela
Lazo was detained by immigration authorities in Las Vegas, Nevada, on April 24, 2025. He remained in U.S. custody until his deportation on July 25, 2025, when he was returned to Venezuela. This marked a significant step in the ongoing investigation into his financial dealings in Mexico.
Jalisco authorities have made it clear that Lazo should be extradited to answer for his alleged crimes in the state. Jalisco was the first Mexican state to file formal complaints against Lazo and to issue an international red alert after the fraud was discovered. The State Prosecutor’s Office requested his return to Mexico to ensure that justice is served.
The Extent of the Fraud
The case centers around Yox Holding and its associated company, Xoy Asesores en Inversiones Independientes, which Lazo allegedly used to deceive investors. According to the Jalisco Prosecutor’s Office, 3,675 victims were defrauded to the tune of $1,888,048,120.50 pesos. This has led to numerous investigations in the state.
In total, 1,547 formal complaints were filed against Lazo in Jalisco. Many victims claim they were misled by the financial companies he controlled. The fraud reportedly spanned several months, with victims losing significant amounts of money after being promised high returns on their investments.
The first reports of the alleged fraud surfaced in January 2024. Individuals began filing complaints about Yox Holding and Xoy Asesores. The initial investigations led to search warrants executed in properties tied to Lazo’s business operations, including locations in Guadalajara, where authorities recovered several pieces of evidence.
Jalisco Prosecutor's Action and Investigations
Following the initial reports of fraud, the Jalisco State Prosecutor’s Office launched an extensive investigation into Yox Holding. Authorities conducted searches at Lazo's company headquarters in the Providencia neighborhood of Guadalajara and other properties linked to the operation. These raids were aimed at gathering evidence to substantiate the claims made by defrauded investors.
The prosecutor's office has emphasized the importance of holding Lazo accountable in Jalisco. It was the first state to file formal charges against him. “Carlos Lazo must answer for his actions in Mexico, where the impact of his fraud was felt most deeply,” stated a spokesperson from the Jalisco Prosecutor’s Office.
International Legal Maneuvering
The legal complexities surrounding Lazo’s case have added further complications. While he faces legal challenges in Venezuela, Mexican authorities are determined to bring him back to Jalisco to face trial. The extradition process remains uncertain, as international legal protocols must be followed.
Carlos Lazo’s case has captured the attention of both Mexican and international legal communities. It highlights the challenges of addressing cross-border financial crimes. If extradited, Lazo could face significant legal penalties in Mexico, as the fraud has caused substantial financial harm to many residents of Jalisco.
Moving Forward
As the investigation into Lazo’s financial activities continues, Jalisco prosecutors are urging the Venezuelan government to cooperate in the extradition process. The authorities remain hopeful that justice will prevail. The victims of this fraud will see some form of restitution. However, legal hurdles and the complexities of international law may delay the resolution of the case.
Lazo’s return to Venezuela marks only the beginning of a long legal journey. The case continues to evolve, and Mexican authorities will closely monitor developments as they push for his extradition.
