'I am solely responsible': The fall of Uriel Barreto and his $16 billion scam in Bogotá
Authorities in Bogotá are investigating a scam involving a supposed financial cooperative that may have affected more than 120 people, resulting in losses of nearly 16 billion pesos.
TL;DR
- Over 120 people in Bogotá are victims of a financial scam, with estimated losses of 16 billion pesos.
- The alleged mastermind, Uriel Barreto (known as 'Junior'), has disappeared after payments stopped in January.
- Barreto presented himself as a director of Cooperativa Transportadora Bogotá-Kennedy Taxis Colectivo, promising monthly returns of 4% to 10%.
- Victims reported that money was invested in the transport sector, but the cooperative's physical offices could not be found.
- The Cooperativa Transportadora Bogotá Kennedy Ltda. was officially liquidated in September 2023.
- Barreto reappeared on social media claiming his life was in danger but has not addressed the investors directly.
- He has since stated that he was solely responsible for the investment model he designed, which became unsustainable.
- The Fiscalía is investigating potential charges of fraud and illegal money collection.