Colorado Files Securities Fraud Charges Against Davalos for Smart+ Scheme

Press Release: Complaint Filed Against Colorado Woman for Fraudulently Selling SmartPlus Securities via Social Media and Seminars

DENVER — April 13, 2026 — On April 2, 2026, Colorado Securities Commissioner Tung Chan filed civil charges against Monica Maria Davalos Villaseñor (Davalos) of Montrose, Colorado, for securities fraud and unlicensed activities in violation of the Colorado Securities Act.

Ms. Davalos is allegedly a representative of Smart+, Inc., Smart Plus Corporation and SBC Smartfund Limited and sold investment contracts offered by the companies. Ms. Davalos is a native Spanish speaker and allegedly targeted the Spanish-speaking community via social media and seminars, touting high returns and low risk.

Ms. Davalos allegedly told potential investors that their funds would be placed into a myriad of diverse assets, including derivatives, commodities and currencies managed by Smart+. She allegedly took a generous commission for each sale and emphasized that the investments were “100% legal.”

Ms. Davalos, however, allegedly did not inform potential investors that the Mexican government had issued warnings against Smart+ and their offerings. She also failed to disclose that she wasn’t licensed to sell securities in Colorado.

“In Colorado, selling investments without telling the truth about the meaningful risks of those investments violates the Colorado Securities Act,” said Commissioner Chan. “If you’ve bought any of these investments or have been pitched any of these sales, reach out to us so we can try to help.”

To access a Spanish version of this press release, view it on the Division's website and use the dropdown menu at the top right-hand corner of the page to change the language.

If you or someone you know has attended a seminar or invested with Smart+, please contact the Colorado Division of Securities at Dora_SecuritiesWebsite@state.co.us or 303-894-2320. You can also file a complaint on the Division’s website.