El Salvador microfinancing sting results in arrests of over 100 Colombians
JURIST
JULY 18, 2023
An international criminal group made microloans to individuals and small businesses in El Salvador using illegally obtained funds. The arrests are the latest move by President Nayib Bukele to transform El Salvador from a country terrorized by gangs to one ruled by law and order. They then charged interest rates as high as 20%.
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