Criminal complaints over $20 million debt

 A GROUP of bondholders of the financial group La Generosa  have organized to present a criminal complaint against it and its president, José Luis Ford, for accumulating a debt of approximately $20 million.

The measure, reports La Prensa,  is due to apparent irregularities found in the enterprise, such as guarantees of non-existent emissions whose final amounts were not transferred to the trust. Investors say they  are tired of waiting for the return of their money.

ABS Trust, the company that manages three bond emissions by La Generosa, has already filed criminal complaints for possible financial crimes, including ones that mention Ford specifically.

To this a legal action was added due to the company’s decision to not continue preparing external audits.

Ford declined to comment because it is a legal issue.