A prominent investors who is thought to have lost millions in the liquidation of Interbolsa — until recently Colombia’s largest brokerage firm, reportedly killed himself Friday.
According to media reports, the 73-year old investor from Medellin shot himself in the head.
The man reportedly had been suffering psychiatric problems since the liquidation of the brokerage firm plunged him into financial difficulties.
The victim is said to be one of the most prominent businessmen in the northwestern Antioquia department where Interbolsa is from.
Late last year, financial regulators essentially shut down InterBolsa after the company failed to make a payment on an $11 million loan.
A criminal investigation is underway to determine whether the company is guilty of tax evasion, hiding information from the public and stock manipulation, just as they were nine years ago.
What originally seemed like just a case of poor investment choices and excessive ambition, has evolved into one of the biggest financial scandals in recent Colombian history.