Tag: DMG
Colombia court sentence DMG founder to 30 years in prison
The brains behind the biggest Ponzi scheme in Colombia’s history has been sentenced to 30 years...
Indigenous prevent fugitive politician’s arrest
National and indigenous authorities clashed this weekend over the pending arrest of Bogota’s former ombudsman who was sentenced to eight years in prison for corruption. The former ombudsman of Colombia’s capital...
Former Bogota city official charged with corruption
A Bogota judge sentenced ex-Bogota ombudsman Francisco Rojas Birry to eight years in jail for corruption, W Radio reported Friday. Francisco Rojas Birry was found guilty of receiving $110,000 from William Suarez, a former...
Bogota Ombudsman accepted $110,000 bribe: Jailed DMG boss
The former head of Colombian pyramid scheme DMG testified Wednesday that Bogota’s current ombudsman accepted $110,000 in bribes from him in 2008. David Murcia Guzman, former head of a Colombian pyramid scheme that...
Ponzi scheme DMG to compensate investors $11.7M
Colombian Ponzi scheme DMG must pay victims $11.7 million, a Bogota court decided Tuesday. The court ruled that DMG, which Colombian authorities said was a pyramid scheme that laundered money for drug lords, must repay its...
Extradited money launderer returns to Colombia
A Colombian woman convicted of international money laundering in a pyramid scheme has returned home to complete her sentence, after serving 15 months in a U.S. jail. Margarita Pabon was extradited to the U.S. in 2010 for her...
Colombia asks US to surrender jailed scammer’s assets
Colombian prosecutors ask the U.S. to surrender the assets of David Murcia Guzman, head of Ponzi scheme DMG, and return them to Colombia, in order to compensate those who lost money, newspaper El Tiempo reported Tuesday. David...
US seizes assets from Colombian Ponzi scheme DMG
A U.S. court authorized the return of 12 properties and $2 million that were owned by DMG, a Colombian company that stole more than $400 million through a Ponzi scheme. Colombian media reported that the assets, which were...
Wife of convicted fraudster to face charges
The wife of Ponzi scheme scam artist David Murcia has been charged with illegal enrichment and money laundering. Prosecutors claim Johana Ibeth Leon Surarez had an active role in her husband’s company DMG, a pyramid scheme which...
Extradited money launderer could return to Colombia
The extradited Colombian David Murcia Guzman, responsible for a giant money laundering scheme, could be returned to Colombia to serve the remainder of his sentence. A hearing in New York to decide whether Guzman’s sentence...
Govt concerned by lawsuits from pyramid scheme victims
Colombia’s finance minister expressed his concern Monday that suing the state is becoming “a national sport,” following a number of lawsuits resulting from the collapse of pyramid schemes, Caracol Radio...
First DMG executive released
A Colombian judge ordered the release of one of the directors of pyramid scheme and alleged money launderer DMG. The judge ruled that former director Daniel Angel Rueda was a free man after having served 60 percent of his two...
