The ex-director of the firm InterBolsa, once the largest Colombian brokerage firm and accused of sweeping financial swindles, was sent to jail for the duration of his trial.
Javier Tomas Villadiego is one of three directors of the brokerage firm Interbolsa accused of involvement in embezzling more than $500 million.
Interbolsa operated as Colombia’s largest health broker until November, 2012, when the government took over the company after defaulting on $11 million dollar loan.
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A criminal investigation was subsequently launched for a number of alleged embezzlement schemes.
Villadiego and two other executives are being investigated for their role in the collapse of the firm. Prosecutors are charging them with unauthorized transactions, conspiracy, and falsifying documents, among other charges.
Earlier this year, the Inspector General’s Office requested that three former executives are not jailed during their trial, as they represent “no danger to the society”. Additionally, Villadiego claimed he had to take care of his sick son. All three were put on house arrest.
Now, in the midst of the nationwide judicial strike, a court in Bogota conducted the hearing to resolve the appeal of the Prosecutor’s Office in the case of the former director of risk management at Interbolsa.
The judge overturned the decision about the house arrest, ruling that the alleged offenses are serious and ordering that Villadiego be awaiting trial from a prison cell in “La Picota” jail in Colombia’s capital.
Colombia Prosecutor General’s Office has charged executives with fraud and willful manipulation of the company’s shares between 2011 and 2012.
Interbolsa has also been accused of links to drug trafficking, prompting extradition to the U.S. of one of its executive money handlers.
Sources
- A la cárcel Javier Tomás Villadiego, exdirectivo de InterBolsa (El Universal)
- “En InterBolsa se creyeron muy grandes para caer”: Gloria Valencia (El Pais)
