They imposed a severe penalty on Venance’s CEO: He had to pay $500 million or go to jail

today is friday Businessman Alejandro Muszak, CEO of the Wenance Group of Companies, accused of one of the biggest financial frauds in recent history, suffered another severe setback in court. Judge Paula Gonzalez He was prosecuted as the leader of an illegal association 524 charged with fraud. On the other hand, it was seized for a much higher sum: $9 billion pesos, confirmed by judicial sources. Infobay. Prosecutor Monica Gunaro is also intervening in the file investigation.

Gonzalez is being prosecuted without custody, as he did months ago when he was released from prison. However, it’s not that simple: The magistrate granted bond to Muzak.

Thus, Gonzalez would have to pay $500 million if he wanted his arrest warrant not issued. The judge noted that Muzak “must comply with his notice within five business days, under warning that if he fails to do so, his immediate arrest will be ordered.” A filing that began in 2017 totaled $175 million he was ordered to pay in order to be released from a previous prison sentence.

To be precise, Muzak is already in jail: He is Magdalena’s unit no. is 28 and was locked up a few weeks ago by order of prosecutor Alejandro Guevara. He demanded that he be elevated to trial with six of his associates, such as Rodolfo Cleto Garcia, Juan Arnoldo Silvero, Paola Adriana Vallon, Pedro Luis Vigiano and Anahi Claudia Cristina Mazalan. In this case, muzak 23 Accused of being the leader of an illegal association dedicated to perpetuating abusesA typical Ponzi scheme with promises of interest 12 to 14 percent per annumwith contributing investors Over 70 thousand dollars from August 2022 to May 2023When the scandal caused by the allegations against him had already become public.

Judge of San Ysidro Muzak was released from prison in this other case On strong bail. In order to achieve this, it provides a series of offers under evaluation.

Garcia, Vallone and Vigiano were also ordered by Judge Gonzalez to forfeit up to $4 billion as part of the illegal association. He imposed on everyone the same measure imposed on Muszak: They have to pay various amounts to escape from jail.

The judge, in his 180-page ruling, assured Gonzalez that the victims “trusted them.” Payments in national and foreign currency (dollars and euros) under the figures of mutual agreementsLoans and investments (VDFs and Global Certificates) in various trusts will be invested and returned in exchange for attractive interest rates ranging from 90% to 150% and in US dollars. Approximately 14%.

“However, as of June 2023, they stopped paying the agreed interest and did not return the invested capital. To do this, they used a complex corporate structure that allowed them to use these manipulations to harm their victims, for their own benefit and/or for the benefit of third parties. These actions caused damages that totaled $1,850,925,603.74 (pesos), US$7,000,270.52 (US dollars) and €117,292 (Euros). Similar to invested capital,” he continued.