Complex alleged millionaire scam Cementazo-Chinese case advances

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Bolaños is linked to two alleged fraudulent cases, one of about $5 million against Banco Popular and
the other of alleged of $31.5 million against Banco de Costa Rica.
- A.M. Costa Rica illustrative photo -

Published Wednesday, November 4, 2020

Complex alleged millionaire scam
Cementazo-Chinese case advances

By the A.M. Costa Rica staff

The Attorney General's Office reported on Tuesday that during a hearing for requesting the continuation of pre-trial precautionary measures, as well as the request of new ones, against two men, one surnamed Bolaños, owner of a Chinese cement import company and the other surnamed Barrenechea, former manager of Banco de Costa Rica, both accused in the controversial and complex cases of alleged fraud, known as Cementazo-Chinese scandal made some advancements in court.

According to the Prosecutor Office, even though it is no longer possible to extend the pre-trial measures as the maximum period, the process uncertainties (referring to the escape of both suspects) persist, as the Criminal Court informed.

As a result of that issue, it was required that the suspects continue to be linked to the criminal case with other types of restrictions.

In the case of Bolaños, the pre-trial measures were imposed to prevent him from leaving the country, where the Criminal Courts remain holding his passport. He must sign an attendance record once a month in the Court, give his property mortgage documents in favor of the Criminal Court and avoid from approaching, harassing, intimidating or disturbing the witnesses in the case.

While the other suspect, Barrenechea, pre-trial measures were imposed also to prevent him from leaving the country, such as prohibition to contact with any witnesses or officials of the Banco of Costa Rica and sign once a month in a record in attendance at the court.

For both suspects, the pre-trial measures will continue until the preliminary hearings begin, the prosecutor said.

Bolaños is linked to two alleged fraudulent cases, one of about $5 million against Banco Popular and the other of alleged of $31.5 million against Banco de Costa Rica.

In June, after concluding the investigation process, the Specialized Unit of the General Prosecutor's Office announced that they had finalized the accusation against three suspects being related to the polemic case of an alleged millionaire scam against public institutions.

The Cementazo-Chinese case is a scandal suspecting corruption, revealed by the media in 2017. The investigation divulged alleged loans of millions of dollars from the public banks to a cement import businessman Bolaños, who was denounced for irregularities.

The prosecution leads the criminal accusation against three men, a former magistrate surnamed Gamboa-Sánchez, Bolaños-Rojas and his cousin surnamed Rojas-Segura.

According to the Prosecutor's Office, in other accusations, the former magistrate, Gamboa, is mentioned for allegedly having received a trip to Panama as a gift in October 2016, with the cost of air tickets and lodging covered by the Bolaños group.

"Apparently, as a result of this benefit granted, the former magistrate carried out an act contrary to his duties as a magistrate of the Criminal Chamber," the prosecutor said in its statement.

According to the prosecutor, the former magistrate allegedly did not refrain from solving the request to dismiss another case against two former deputies, surnamed Morales-Zapata and Guevara-Guth. Also, in the case of the other two suspects surnamed Céspedes-Salazar, and Bolaños-Rojas, for an alleged influence-peddling crime.

According to the indictment, the aforementioned air ticket and lodging expenses were paid by Rojas-Segura, who served as general manager of the Bolaños business group.

"For these facts, Gamboa is accused of the alleged crime of bribery, the businessman for an alleged crime of corruption under the modality of bribery, and Rojas for the alleged penalty as an accomplice," the prosecutor said.

According to the Specialized Unit in charge of investigating the case, the former magistrate allegedly imposed his high-status command of the Judiciary to obtain an unfair advantage in favor of Bolaños, for which he is accused of the crime of peddling.

There are more facts presented in the indictment. In October 2017, Gamboa appeared before the Special Commission that was created in the Congress, to investigate a series of events related to loans granted for the importation of Chinese cement.

"The accusation declares that the former judge (Gamboa) lied under oath, because, allegedly, he lied in some of his statements. Among these, about the way of acquiring the ticket and lodging in Panama, as well as his trip to that country, and about the regularity of his contact with Bolaños. Therefore, the Prosecutor's Office accuses him of the crime of perjury," the prosecutor said.

Also, the case mentioned that Bolaños-Rojas also lied under oath about another incident that happened in December 2017. He gave testimony, which was ordered by the Full Court to determine if Gamboa had incurred an administrative offense linked to multiple public accusations made against him.

Allegedly the cement importer lied about facts, among others, about the time he had to meet the then former magistrate Gamboa and the frequency of his communications. And he allegedly lied about the reasons for the trip to Panama and his innocence of the form of payment of the ticket and accommodation.

In February, the Attorney General announced the advancement in another case, an accusation against nine people for the case known as Cementazo-Chinese -Banco Popular.

According to the Prosecutor's Office, the suspects were investigated for allegedly committing the crimes of fraud against the public treasury, meaning the government.

The case is against those well known in the media, such as Bolaños-Rojas and his wife, surnamed Suárez-Aguiar, and seven more men with surnames Cortés-Zúñiga, Rojas-Segura, Thompson-Camacho, Gómez-Barrantes, Delgado-Negrini, Bogantes-Brenes and Arias-Silesky.

According to the information provided by the prosecutor, the suspects would have directed actions aimed at damaging the patrimonial interests of the government through the opening of a $5 million credit line granted to Bolaños's company to import and sell cement from China.

According to the prosecutor's, some of the Banco Popular employees analyzed and recommended that credit, although prosecutors claim they knew that the company did not have sufficient capacity to meet payment obligations. That is, it is alleged that the company could not pay back the money.

The investigation shows that alleged bank employees Bogantes and Gómez, together with Bolaños, agreed to be business partners in the sale of cement imported from China while the credit analysis and approval were being processed in the bank.

"Also, the analysis shows that with the money from the loan from Banco Popular, no cement was imported," the prosecutor said in their statement.

The other case about a loan of $31.5 million from the Bank of Costa Rica to Bolaños was denounced for irregularities.

The investigations have uncovered an alleged case of influence peddling and questions the employer's relationship with members of the government, including deputies, the Supreme Court of Justice authorities and the presidency, as well as members of different political parties.

In summary, the bank loaned Bolaños $31.5 million in November 2015 to import cement from China after bank managers changed regulations and the Ministry of Economy also made changes to favor Bolaños.

Bolaños was arrested in November 2017 and detained until May 2019 when a judge ordered him placed on house arrest while the investigations continue.

According to the attorney general, Emilia Navas-Aparicio, "it is a complex case, not only because of the number of suspects but of the type of corruption that is being investigated and because it involves the government authorities."

"The people may be sure that the case is getting plenty of attention, adequately being addressed, and processed. We had to work day and night to recover time that had been lost by the inaction of the past," Navas said.

The General Prosecutor's Office reported the opening of 22 criminal cases along with the investigation of 50,000 files. Additionally, agents of the Judicial Investigation Organization, have requested five operations with raids in 14 sites, 18 seizures with their respective analyses and 70 interviews with witnesses.

There is still no set date for the start date of the trial.

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Should the Attorney General's Office speed up the trial date due to the importance of the case of alleged corruption and millionaire fraud to public banks? We would like to know your thoughts on this story. Send your comments to news@amcostarica.com