ISSTEY pension funds allegedly diverted to private network

An investigation into the Institute of Social Security for State Workers of Yucatan (ISSTEY) has revealed allegations of pension fund diversion to a private firm. During the administration of Rolando Zapata Bello, former director Ulises Carrillo Cabrera reportedly channeled substantial portions of the retirement reserves to Grupo Escorfin, led by Roberto Guzmán García.

While presented as an investment strategy to increase retirement funds, the move allegedly utilized a network of shell companies to move money between private interests and officials. The institute, which manages pensions for over 42,000 families, also faces scrutiny regarding the sale of land to government agencies and the Tren Maya project at below-market values, potentially resulting in a loss of up to 600 million pesos.

Additionally, recent legislative reforms to the ISSTEY Law have drawn criticism from opposition lawmakers, who argue the changes do not ensure long-term sustainability and fail to impose criminal penalties for the non-payment of contributions.