Prosecutor's Office carries out asset forfeiture operation on more than 300 Lili Pink stores in Colombia
The Prosecutor General's Office is advancing in an asset forfeiture process affecting more than 300 establishments of the well-known underwear brand Lili Pink, as part of an investigation into smuggling.
TL;DR
- Over 300 Lili Pink stores are affected by an asset forfeiture process by the Colombian Prosecutor's Office.
- The investigation concerns alleged smuggling of textile products and money laundering.
- The company is suspected of being a facade for illegal merchandise entry and channeling illicit funds.
- Some of the affected establishments will be temporarily managed by the state through the Special Assets Society (SAE).
- The investigation, which began nearly five years ago, is linked to a larger network involved in smuggling over $20 million in merchandise annually for two decades.
- Several individuals allegedly linked to the illegal scheme have been captured.
- Lili Pink was founded 20 years ago and became the leading women's underwear chain in Colombia before being sold to a Panamanian holding company in 2015.