|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Uruguay

Uruguay Grants Asylum to Colombian Fraud Suspect’s Wife

BOGOTA – Uruguayan authorities have granted political asylum to Johana Ivette Leon Bermudez, the wife of David Murcia Guzman, who is accused of running the largest pyramid scheme in Colombian history.

Murcia Guzman’s attorney, Gustavo Salazar, said the woman will have a special passport that allows her to move freely in Uruguayan territory and even work there, Bogota’s El Espectador newspaper reported in its online edition.

Uruguayan authorities granted that status to Leon Bermudez because of the evident political undertones in the DMG case, Salazar said.

That decision “confirms what we said at the beginning: that the trial of David Murcia undoubtedly has legal overtones, but it also has a political dimension,” the attorney said.

Murcia Guzman was arrested in Panama last November and extradited to Colombia, where he currently is on trial for the massive and illegal raising of capital.

DMG comprised dozens of branches in Colombia and Murcia Guzman planned to expand his business empire into neighboring countries when it was taken over by the Colombian government on Nov. 17.

His business model consisted of selling pre-paid debit cards to clients, who could use them to purchase products at DMG stores and later redeem them for cash as a reward for signing on other investors.

While several other pyramid schemes in Colombia went bust last year, leaving thousands of duped investors in the lurch, DMG was still operating at the time it was shuttered.

The decision to shut down DMG’s operations sparked protests in the southern Colombian provinces of Putumayo and Huila. The demonstrators said the up to 300 percent returns they were receiving on their investments were their only means of putting food on the table after government coca spraying left many peasants jobless.

A pyramid scheme is a scam in which exorbitant returns are paid to investors out of the money contributed by subsequent investors, rather than from profit.

It inevitably collapses when cash outflow exceeds cash inflow. EFE
 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2020 © All rights reserved