A judge decided to revoke the house arrest of former television presenter Adriana Arango, who was convicted of improper recruitment of over a 16 billion peso pyramid scheme.
Through the society CI Tango Trading, owned by Arango and her husband Hugo Javier Coy, defrauded at least 150 people of 16 billion pesos (approx. US$8 million) with the promise of high dividends that never eventuated.
On May 28 the two defendants pleaded guilty for the crimes of aggravated fraud and illegally receiving funds.
On October 28 there will be a hearing with all involved parties to determine how much was given to Arango and Coy, and what can be recovered. The penalty to be imposed on the duo will be decided once it is known exactly how reparations to defrauded investors will be made.
Adriana Arango will be transferred to El Buen Pastor prison, while Coy will be moved to La Picota penitentiary.
