Over a hundred Colombians have been arrested in El Salvador for their alleged involvement in a microfinancing scheme that laundered money from drug running and gang activities, according to security officials. The criminal group reportedly provided loans, using illegally obtained funds, to individuals and small businesses with a 20% interest rate. The government of President Nayib Bukele has been cracking down on gangs, resulting in the imprisonment of around 70,000 suspects and a significant reduction in violent crime. Despite criticism from rights groups, Bukele’s tough stance on gangs has boosted his approval ratings ahead of his re-election bid next year.
Attorney General Rodolfo Delgado revealed that when victims of the financial scheme were unable to repay their loans, the group would intimidate them into providing their bank account information, which was then used to transfer money abroad. It is estimated that around $20 million linked to drug trafficking gangs has been sent to Colombia since 2021 through this scheme.
President Bukele took to Twitter to address the situation, stating, “Colombians are our brothers. However, these people will have to face Salvadoran justice.” The Colombian foreign ministry has confirmed that it is in discussions with its embassy and consulate in El Salvador regarding the arrests but did not provide further comment on the accusations against the Colombian nationals.
In addition to the Colombians, three Salvadorans, a Guatemalan, and an Argentine were also arrested in the operation. The crackdown on this microfinancing scheme highlights the ongoing efforts of the Salvadoran government to combat organized crime and money laundering activities.
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This is a stark reminder that money laundering knows no borders. It is encouraging to see international cooperation in cracking down on such illegal activities.