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# Other

# In the Matter of Mancera, S.C., et al. Admin. Proc. File No. 3-20173

                            Oct. 14, 2022                       

On December 17, 2020, the Commission instituted and simultaneously settled public administrative and cease-and-desist proceedings (the “Order”) against Mancera, S.C. and two members of Mancera’s engagement team – then partner, Alejandro Valdez Mendoza, C.P., and then-senior manager, Angel Radames Corral Nieblas, C.P. (collectively, the “Respondents”). In the Order the Commission found that during Mancera’s audits of the 2010, 2011 and 2012 financial statements of Desarrolladora Homex, SAB de CV (“Homex”), a homebuilder headquartered in Sinaloa, Mexico, Homex’s common stock was listed on the New York Stock Exchange. During that period Homex engaged in a multi-billion dollar financial fraud by overstating both its number of homes sold and its revenues, in the aggregate of 106,000 units, or 317%, and of $3.3 billion (MXN $44 billion), or 355%, respectively. The Commission ordered the Respondents to pay $950,000.00 in disgorgement, $139,926.43 in prejudgment interest, and a $500,000.00 civil money penalty, for a total of $1,589,926.00, to the Commission. The Commission also created a Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, so the penalty paid, along with the disgorgement and interest paid, can be distributed to harmed investors (the “Fair Fund”). *See* the Commission’s Order: Release No. 34-90699.

The Fair Fund consists of the $1,589,926.00 in disgorgement, prejudgment interest, and civil money penalties paid by the Respondents.

The Fair Fund has been deposited in an interest-bearing account at the United States Department of Treasury’s Bureau of the Fiscal Service, and any accrued interest will be for the benefit of the Fair Fund.

On May 7, 2021, the Commission appointed Miller Kaplan Arase LLP as the Tax Administrator of the Fair Fund. *See* the Commission’s Order: Release No. 34-91792.

On December 1, 2022, the Commission issued an order appointing Angeion Group, LLC, as the Fund Administrator of the Fair Fund, and set the administrator’s bond amount at $1,589,926.43. *See* the Commission’s Order: Release No. 34-96437.

For more information, please contact the Commission:

Office of DistributionsEmail: ENFOfficeofDistributions@sec.gov

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