Various religious organizations and convents submitted claims to as newspaper El Espectador reported on Sunday
The scheme, for which Interbolsa has come under criminal investigation was a financial ploy where the company used assets owned by people like the sister of the convent to collateralize a borrow and buyback scheme with shares of Fabricato, a Colombian textile.
BACKGROUND: Colombia govt launches criminal investigation against Interbolsa
The high risk and unregulated actions, in turn, caused the firm’s liquidity to dry up. In late 2012, InterBolsa was unable to make a payment on an $11 million loan which spurred the firm’s subsequent liquidation.
BACKGROUND: Billions leave Colombian banks amidst Interbolsa scandal
Since then, government regulators have intervened to try and ensure that investors’ money will be returned.
But despite the fact that the majority of assets have been returned to investors, a long string of claims are still unresolved.
Some, like the convent of the Capuchin Tertiary Sisters of Medellín, filed claims for monies they believe fall under the actual value of their losses with InterBolsa because they simply don’t know how much they had invested with the brokerage.