Kathy and Jim Machir are two of roughly 10,000 U.S. expatriates that moved to San Miguel de Allende, Mexico.
Last December, the Machirs called Marcela Zavala Taylor, their Monex banker of 9 years, to get cash for contractors building their retirement home in San Miguel de Allende, a city of 69,000 about 500 miles south of McAllen, Texas. But Zavala didn’t return their calls and the Machirs discovered their nest egg was gone. Kathy Machir says: “When they told us we had 32¢ in our accounts, I just felt sick to my stomach. Since then, they have not dealt with us in good faith.”