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Latin America Investment News on Viva Tropical

El Salvador: U.S. Equity Firm Credimas Prosecuted for Sending “Junk Gold” to Avoid Taxes

Article Summary:

A Salvadoran court took legal action against the U.S. equity firm Credimas for allegedly evading at least $ 11.6 million in taxes by sending “junk gold” to the U.S. The company faces persecution for crimes of tax evasion to money laundering in El Salvador.

Original Article Text From Mis Fiananzas en Linea via Google Translate :

El Salvador: Credimas Prosecute for Tax Evasion

A Salvadoran court decreed “formal instruction” against the U.S. equity firm Credimas for allegedly evaded at least $ 11.6 million in taxes by sending “junk gold” to the U.S.

The Fifth Court of Peace decreed formal education against the three defendants “around Credimas case,” said in a statement Isidro Menéndez Judicial Center, where courts function.

According to the document, Judge Yolanda Figueroa issued “provisional detention formal statement” against the legal representative of the company, which also operates in Guatemala, Honduras and Nicaragua , Peru’s Jorge Manuel Hoyos Portal.

But he said that the measure is “could change (…) if (the accused) economic bail canceled $ 4 million.”

Holes “should face justice for the crimes of tax evasion to money laundering and assets,” says the bulletin.

The other two involved, Salvadorans Oscar Agustín Alfaro and Jesus Molina Henríquez Argueta, the judge ordered them “alternatives” such as not leaving the country, presented to the court every 15 days, no change of address and no contact with the witnesses.

In addition, they “changed the illegal tax evasion concealment, as it was found to be employees of the home lender and only following orders”, said the bulletin.
According to the Attorney General’s Office (FGR) Credimas, American Majority capital, operates in El Salvador since 2004 “in order to buy from users ‘scrap gold’ and sell to another company based in Miami, Florida (United . States.) “.

The FGR established in a statement last February 28 when authorities raided the company, “or representatives Credimas shareholders are the same as those in the business directory of the importing entity based in Miami”

The head of the Specialized Unit on Organized Crime of the FGR, Rodolfo Delgado said at the time that the inquiry established that allegedly evaded Credimas 4,1 million dollars in taxes in 2008 and further 7.5 million in 2009.

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From Mis Fiananzas en Linea

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