Judge Leonardo Mendez appointed a trustee to take over the management of the company, under accusations of fraud, who displaces its director, Pablo Carrasco.

Mendez ordered an insolvency proceeding and the seizure also covers Carrasco’s wife, Ana Teresa Iewdiukow and Daniela Cabral, widow of Gustavo Basso, Carrasco’s partner who died months ago in a traffic accident still under investigation.

The company, with severe liquidity problems and liabilities far exceeding its assets, stopped paying about 4,000 investors after the crisis that resulted from the collapse of two other similar companies, Republica Ganadera and Grupo Larrarte.

The investors denounced a multimillion-dollar swindle, which led to the judicial intervention of the company.

This Monday the justice confirmed the closing of borders and the delivery of Carrasco’s identity documents, his wife and Basso’s widow, who are now being investigated by the Asset Laundering Prosecutor Enrique Rodriguez.

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