The businessman had been arrested for the first time in April of this year, where he remained locked up for three months.
Alejandro Muszak, CEO of Wenancewill return to jail after the Chamber V of the Appeals Chamber will order his arrest. He had already been arrested for the first time last April, within the framework of a case initiated by Vicente López’s prosecutor, Alejandro Guevara.
After his arrest at that time, He spent three months in the Magdalena prisondependent on the Buenos Aires Penitentiary Service, and later was releaseda fact that generated great controversy in the chamber. Once free, Muszak took up residence in the Belgrano neighborhood, in the City of Buenos Aires.
The maneuvers of the CEO of Wenance
This Wednesday his new arrest was confirmed, but this time he will be transferred to a federal prison. Prosecutor Guevara presented a file documenting 24 scams perpetrated by the owner of Wenance, a company that was responsible for carrying out illegal financial intermediation, without a license from the Central Bank. That is, they provided loans and financed the consumption of household appliances and motorcycles to segments of the population at high credit risk, charging higher interest to the banks. As a financing method, it obtained funds from private trusts, with the promise of high returns to those who invested in these instruments.
This way, His business consisted of issuing and selling securities for junk credits.instead of lending money. In 2023, reached sixfold those creditssince he sold them several times, in order to attract new investors, whose contributions served to cover the interest payments of those who previously invested, i.e.: a Ponzi scheme.
”The Court considers that the hundreds of criminal acts that are investigated here, perpetrated through a division of roles between those accused here – without ruling out the participation of others -, the planning, organization and permanence for several years, are elements that allow us to elucidate the hidden criminal pact, whose existence calls into question the defense. “That is why it is appropriate to approve the contested order insofar as it ordered the prosecution of Muszak in his capacity as head of an illicit association.” quotes the ruling accessed by the media La Nación.
”The maneuver must be seen and understood as a pyramid scheme, known as ponzi schemesince pyramid schemes consist of recruiting victims and subsequently investing in a new platform or project that promises greater profits the more participants join. The idea of these schemes is that the last participants produce the profits of the first,” highlighted prosecutor Mónica Cuñarro.
And he added: ”When there are no longer enough new followers, others want to withdraw their money and not reinvest it, the pyramid collapses and the administrators disappear with the funds already collected. What they have in common is that they offer exorbitant short-term profits from generating an increasingly larger community and more people entering and investing. One detail to keep in mind is that, at the beginning, in pyramid or Ponzi scams the returns are truly phenomenal, so that no one distrusts and so that the amount of money invested grows. And it is also true that, in the beginning, scammers pay handsomely. Until it’s over.”
Furthermore, the judges Pociello Argerich, Pinto and López They confirmed the embargo on the businessman’s assets, which was dictated by Judge Paula González, until the total sum of $9,000 million was covered.
Source: Ambito
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