HomeNewsBriefGang Behind Cabral Killing Accused of Laundering $1 Bn in Nicaragua
BRIEF

Gang Behind Cabral Killing Accused of Laundering $1 Bn in Nicaragua

MONEY LAUNDERING / 8 AUG 2012 BY HANNAH STONE EN

Nicaraguan prosecutors have accused alleged members of the Charros gang, linked to the murder of Argentine folk singer Facundo Cabral, of laundering more than $1 billion in the country.

The network, led by Costa Rican Alejandro Jimenez, alias “El Palidejo,” is accused of laundering over $1.11 billion in illegal profits through Nicaragua’s financial system between 2005 and 2012.

The charges were laid out before a court in Managua against some 24 individuals linked to the gang, including Nicaraguan nightclub owner Henry Fariñas (pictured), and former high court judge Julio Cesar Osuna, reported La Prensa.

Prosecutors also detailed seeming irregularities in the finances of the accused. Fariñas allegedly spent $10.1 million during the period, despite having a registered income of only $3.5 million, Confidencial reported.

InSight Crime Analysis

The criminal group is suspected of making its money by trafficking drugs and people through Central America. Authorities began tracing the criminal network after Argentine folk singer Facundo Cabral was murdered in Guatemala in a hit meant for Fariñas. The extremely high profile nature of the case pushed governments in the region to uncover the network behind the killing.

Palidejo is suspected of ordering the hit after a business dispute with Fariñas, which may have involved the theft of a drug shipment. He was captured off the coast of Colombia in March.

The investigation has pointed to the extent of corruption in Nicaragua’s security forces. As InSight Crime reported in a special investigation in July, one high-ranking police officer said that Fariñas was working closely with corrupt Nicaraguan police officers involved in schemes to intercept drug shipments. The allegations about the Charros’ money laundering activities in Nicaragua could mean that more revelations are set to emerge.

Compartir icon icon icon

What are your thoughts? Click here to send InSight Crime your comments.

We encourage readers to copy and distribute our work for non-commercial purposes, with attribution to InSight Crime in the byline and links to the original at both the top and bottom of the article. Check the Creative Commons website for more details of how to share our work, and please send us an email if you use an article.

Related Content

GOLD / 18 JAN 2018

A new journalistic investigation reveals the inner workings of Miami’s dirty gold trade, which has helped powerful Latin American crime…

MEXICO / 17 APR 2013

Nicaragua's appeals court will review the sentences handed to 18 Mexicans found guilty of drug trafficking after being arrested while…

NICARAGUA / 15 JUL 2011

A U.S. diplomatic cable released by whistleblower site WikiLeaks reportedly says there is reason to "re-evaluate" how far Nicaragua's remote…

About InSight Crime

THE ORGANIZATION

We Have Updated Our Website

4 FEB 2021

Welcome to our new home page. We have revamped the site to create a better display and reader experience.

THE ORGANIZATION

InSight Crime Events – Border Crime: The Northern Triangle and Tri-Border Area

ARGENTINA / 25 JAN 2021

Through several rounds of extensive field investigations, our researchers have analyzed and mapped out the main illicit economies and criminal groups present in 39 border departments spread across the six countries of study – the Northern Triangle trio of Guatemala, Honduras, and El…

BRIEF

InSight Crime’s ‘Memo Fantasma’ Investigation Wins Simón Bolívar National Journalism Prize

COLOMBIA / 20 NOV 2020

The staff at InSight Crime was awarded the prestigious Simón Bolívar national journalism prize in Colombia for its two-year investigation into the drug trafficker known as “Memo Fantasma,” which was…

ANALYSIS

InSight Crime – From Uncovering Organized Crime to Finding What Works

COLOMBIA / 12 NOV 2020

This project began 10 years ago as an effort to address a problem: the lack of daily coverage, investigative stories and analysis of organized crime in the Americas. …

ANALYSIS

InSight Crime – Ten Years of Investigating Organized Crime in the Americas

FEATURED / 2 NOV 2020

In early 2009, Steven Dudley was in Medellín, Colombia. His assignment: speak to a jailed paramilitary leader in the Itagui prison, just south of the city. Following his interview inside…