Koriun

A proposed legislative reform would permit authorities to use more than 353 million lempiras (about $14 million) seized in the Koriun Inversiones scheme to combat crime, leaving investors uncertain whether they could recover their money if the case results in acquittal.

An appeals court confirmed formal charges against four people, including former Koriun Inversiones manager Iván Velásquez Castro, on money-laundering, weapons, and criminal-association charges stemming from the large-scale investment fraud scheme.

Associates of Koriun Inversiones staged a peaceful march through Choloma demanding the release or modified detention of Iván López, who they say promised to repay their money if freed from jail.

Iván Velásquez, the former manager of Koriun Inversiones—a company accused of running a Ponzi-scheme fraud—was transferred from Támara prison to the Center for Legal Medicine and Forensic Sciences for medical and psychiatric evaluation; the court has not disclosed who requested the assessment.