Charges Filed Against Monica Davalos Villaseñor for Securities Fraud Targeting Spanish-Speakers
Summary
Colorado Securities Commissioner Tung Chan filed civil charges against Monica Maria Davalos Villaseñor of Montrose, Colorado, on April 2, 2026, for securities fraud and unlicensed securities activities. Davalos allegedly sold investment contracts for Smart+, Inc., Smart Plus Corporation, and SBC Smartfund Limited through social media and seminars targeting the Spanish-speaking community, claiming high returns and low risk while failing to disclose she lacked securities licensing in Colorado and that Mexican authorities had issued warnings against Smart+.
What changed
The Colorado Securities Commissioner filed civil charges against Monica Maria Davalos Villaseñor for allegedly violating the Colorado Securities Act through securities fraud and unlicensed activity. Davalos allegedly sold investment contracts for Smart+ entities via social media and seminars targeting the Spanish-speaking community, promising high returns and low risk while taking generous commissions and emphasizing the investments were "100% legal." She allegedly failed to disclose she was not licensed to sell securities in Colorado and that Mexican authorities had issued warnings against Smart+ and its offerings.
Affected parties include Spanish-speaking investors who may have been targeted through social media or seminars and purchased Smart+ investment contracts. The Commissioner urged anyone who invested or was pitched these products to contact the Division immediately. Financial advisers and investment professionals should note this enforcement action as an example of aggressive targeting of specific communities combined with licensing violations and material omissions.
What to do next
- Contact the Colorado Division of Securities if you have purchased Smart+ investments or been pitched these securities
- File a complaint on the Division's website if affected
- Email Dora_SecuritiesWebsite@state.co.us or call 303-894-2320 for assistance
Archived snapshot
Apr 14, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
Press Release: Complaint Filed Against Colorado Woman for Fraudulently Selling SmartPlus Securities via Social Media and Seminars
Monday, April 13, 2026
Submitted by [user:fieldfirstname] 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.
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