Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Colombia boosts security after looting at stores with ties to FARC

Published 02/22/2018, 12:43 AM
Updated 02/22/2018, 12:53 AM
© Reuters. Colombian police and soldiers guard a supermarket supposedly linked to FARC in Bogota

BOGOTA (Reuters) - Colombian armed forces on Wednesday stepped up security after mobs broke windows and stole food at 16 supermarkets in Bogota and other cities that the government said are a front for hiding assets of former FARC rebels.

Police fired tear gas at hundreds of stone-throwing youths and made numerous arrests following raids on stores that the attorney general's office said belong to the FARC, now a Marxist political party.

The top prosecutor said on Monday he would confiscate 60 supermarkets as well as houses, livestock and commercial companies valued at $227.8 million that were not declared by the FARC as assets when the group signed a peace accord in late 2016.

The Supercundi supermarket chain was kept in the name of three brothers to hide assets and launder money but is owned by the FARC, the top prosecutor said.

FARC leaders on Wednesday denied any connection to the Supercundi chain and called the accusations "fake news."

The FARC, once known as the Revolutionary Armed Forces of Colombia, accumulated a considerable fortune from drug trafficking, kidnapping and extortion during a long war. It has always denied hiding money and says it has spent almost everything on maintaining its troops and on weapons.

The 7,000-strong group, now the Revolutionary Alternative Common Force, promised to hand over all assets to compensate victims of the five-decade war.

Heavily armed police and soldiers with tanks guarded the looted supermarkets and others that remain closed on Wednesday. Stores in Tolima, Quindio, Cundinamarca and Boyaca provinces were looted and 28 people were arrested, according to the police.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

"We are adopting measures, because we have information that there are groups of people who are organizing themselves through social networks to attack other commercial establishments," Javier Beltran, a high-level official in Cundinamarca province, where Bogota is located, said on Caracol TV.

The attacks were initially focused on supermarkets but spread to other establishments. Most appear to be acts of vandalism and theft rather than political activism.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.