Proceso magazine revealed that the fraud committed to the detriment of the Blue Cross Cooperative is seven times greater than the Master Scam
MEXICO – The legal problems of Guillermo Alvarez Coves, Former president of Blue Cross, They continue to give many lines in the main journalistic media. This is the case of the report recently presented by the magazine Proceso, which shows that the embezzlement of the said manager was “a robbery seven times larger than the Master Scam.”
process cites that the fraud perpetrated by ‘Billy’ Alvarez exceeds 45 billion pesos, according to a member of the administration and based on the documentation provided by external auditors.
This sum leaves the call very low ‘Master Scam’, In which 7 thousand 670 million pesos were deviated from some federal institutions, which measures the damage orchestrated by means of the company / signature CBL Fiducia, created by the same exdirectives.
“No one has seen this issue with its size, the catastrophe of what the damage to the cooperative entails, in terms of sums and the economic impact that this person (Guillermo Álvarez) was able to cause to the cooperative members.”
Adds the interviewee, the identity is not revealed: “If we go to the numbers, this robbery is seven times greater than that of ‘The Master Scam.”
As indicated in the report, in 2016 Guillermo Alvarez Coves, His brother Alfredo i Víctor Garcés, They devised a mechanism “to appropriate the cooperative”, together with the lawyer Àngel Junquera, the lawyer investigated for allegedly participating in the money laundering of the La Creu Blava Cooperative.
“On August 15 this year (adds the report), the Cooperativa La Creu Blava SCL, represented in the case by Guillermo Héctor Álvarez Cuevas and Afianzadora Fiducia, SA de CV, represented by its fiduciary delegate, Pablo Martínez de Velasco and Velasco, entered into a Guarantee Trust contract in order to capitalize the Pension and Retirement Fund of the Blue Cross Cooperative, SCL “, and the results launched that the trustee only facilitated the diversion of resources.
It is detailed that the lawyers of ‘Billy’ Alvarez and company paid millionaire figures, just as they did for other services, without demeriting that ghost companies were uncovered, by means of which the ex- cruzazulinos leaders appropriated great sums of money.
In this sense, it is shown that Fiducia charges the cooperative monthly for the rent of its own plants.
“What was the strategy of Guillermo Alvarez and their relatives? First, they valued all the assets of the cooperative, which includes the plants and the corporate building of Gran Sud, in Mexico City, and paid the same public broker three times the valuation of these assets.
Similarly, it is noted that “for these assessments, the public broker charged more than 80 million pesos,” so that for the assets of the two plants, they ended up delivering the two plants properly, with a value of 42 billion 300 million pesos, he says.