#CuraumaCase / The Blasted Heath
Chile, January 1, 2025 - In December 2024, eleven years passed since a web of corruption stripped the Chilean Real Estate company Curauma S.A. of its principal asset under the passive watch of authorities, the media, and regulatory institutions. This case, far from receiving the scrutiny it deserved, has been buried under a bleak, complicit silence that perpetuates impunity.
The Corruption Scandal The corruption scandal involves Henry Comber and Nicholas Davis, controllers of Euroamerica Seguros de Vida, and a usurious loan granted to Curauma S.A., which exceeded the Maximum Conentional Interest Rate. Four times the capital was repaid, ultimately resulting in the seizure of collateral valued exponentially higher than the debt. To achieve this, their lawyers and accomplices manipulated the judicial case distribution system, assigning the matter to "suitable" courts that validated illegal measures. The asset was hidden within a shell company with no activity, facilitated by the Banco de Chile—a partner of Citibank—which provided illegal and expedited loans to execute the operation. The Pact of Silence Knowledge of these irregularities is widely shared among key actors, spanning the judiciary, financial sector, regulatory bodies, and trade associations. However, all have chosen to look the other way, shielded by a pact of omission driven by economic interests, political conveniences, and a calculated "hands-off" approach. The local press, which should serve as a guardian of truth, has remained silent, whether due to external pressures or negligence, while regulatory entities have displayed alarming inaction. The bar association, rather than defending the rule of law, has maintained a silence that signals complicity. Adding to this is the business sector, which, prioritizing immediate gains, has ignored the serious implications this case has for market transparency. Consequences of the Past The impunity not only devastated a company and its shareholders but also eroded trust in institutions, exacerbating a moral and economic crisis affecting the nation as a whole. This negligent behavior weakened the system, further distancing it from fundamental values of justice and equality before the law. Eleven years later, the damage is undeniable. Yet, the determination to achieve justice remains steadfast, undeterred by the dense fog enveloping Chile. #CasoCurauma #CuraumaCase
