TIJUANA.- For those who are familiar with Tijuana’s Medical Tourism Association, the name of its spokesperson, Marlon Sanchez, might ring a bell. Recently, it has come to light that the Sanchez allegedly has ties to multimillion dollar fraudulent operations.

Sanchez participated in the operations of CYNK Technologies (formerly known as Intro Buzz when founded in 2008), a front company that was suspended in the stock exchange after astronomically inflating the value of its stock. This company, which does not have recorded income stream, employees, or even a physical address, increased the value of its shares from one day to the next to reach a value of 5 billion dollars. Its only real activity was a social media network with a cost of $50.00 dollars per person whereby the user could reach out to major players. During the beginning of July, CYNK’s stock increased 36000%, increasing the price per share from five cents to over fourteen dollars, and making some suspicious of fraudulent trading.

In mid-July, CYNK’s trading activities headlined various articles in financial and business journals around the world. Messages on social media discussed the value increase, and brought on an even further inflation in value. When the Securities Exchange Commission (SEC) looked into the matter, all activities were suspended to avoid harm to investors.

Marlon Sanchez acquired 2.8 million shares of the front company in April 2013, which equated to 72% of shares, and became the company’s CEO. This coincides with spikes in the trading value of the company a couple of weeks ago. For now, Marlon Sanchez and the Medical Tourism Committee have not released public statements on the topic. The burden has now fallen on Javier Romero, who took charge of the company after Marlon Sanchez resigned in February.

Despite Sanchez’s declarations to Wall Street that he has no ties to CYNK, his method of operations coincides with all those who have been employed by this company, namely, a sole individual in charge of all operations, a large percentage of shares, and spikes from one day to another. It is anticipated that further investigation will take place to resolve the root cause of this problem.

Brenda.Colon@sandiegored.com

borderzonie@gmail.com