Alianza Fiduciaria must pay $8.115 million for failures in real estate project
The Superintendencia Financiera de Colombia imposed the highest conviction recorded against a fiduciary company in the country for irregularities in a real estate project...
TL;DR
- Alianza Fiduciaria has been ordered to pay a record $8.115 million fine by the Superintendencia Financiera de Colombia.
- The fine is due to serious irregularities and negligence in managing the Torres del Cielo real estate project in Barranquilla.
- The fiduciary company failed to properly evaluate the project's risks, verify the constructor's qualifications, and manage funds appropriately.
- The construction was suspended in 2018, affecting 27 families who had invested their savings.
- This ruling sets a precedent, highlighting the strict accountability and professional standards expected of fiduciary entities in Colombia.