Colombia says ELN Laundered $225 Million through Front Companies

Colombia’s Prosecutor General’s Office accused the National Liberation Army (ELN) of running a two-decade money-laundering network that washed more than $225 million (COP 885 billion) in illicit proceeds through a web of shell and front companies across the country, according to a statement cited by Colombia Reports.

Prosecutors said the scheme has operated since at least 2005 in Arauca, Norte de Santander, Casanare, Nariño, Amazonas and Cundinamarca, as well as Bogotá. The revenues allegedly flowed from kidnappings, extortion, illegal mining and drug trafficking and were routed through cash transfers to paper companies and invoicing for fictitious sales and services, the report said.

Investigators traced more than $178 million (COP 685 billion) to four firms that issued sham invoices for vehicles, medicines and engineering work “concealing its illicit origin.” Another five companies in telecommunications, construction, agriculture and air services allegedly moved about $2.17 million (COP 83.5 billion) for the insurgent group.

Authorities also said illicit proceeds were laundered through the Colombian financial system and the real estate sector, according to the report.

Eight suspects were arrested, including two detained in Argentina, according to the prosecution’s account. Police and prosecutors seized 59 gold bars valued at more than $8.3 million (COP 32 billion) and roughly $146,000 (COP 563 million) in cash. Asset freezes extended to 34 properties, 22 vehicles and 23 businesses, with an estimated value of $9.5 million (COP 37 billion).

Among those linked to the network, prosecutors highlighted businessman Yasser Husseir Ardila, who received money from the Arauca Governor’s Office to support the public-health system, according to public records cited in the report.