The Financial Superintendency of Colombia ordered Fundación FG – Administrador de Fideicomisos Civiles to immediately cease unauthorized deposit-taking activities after finding that it collected COP 9.49 billion from at least 318 people without providing goods or services as real and effective consideration. The funds were raised through the Fideicomiso Civil Gran Reserva Gloriazul 17 scheme, which was promoted online, through social media, virtual meetings and commercial advice. Participants made minimum contributions of COP 2.5 million in exchange for documents called Certificates of Fiduciary Rights and were offered annual returns of 18% to 28%, repayment of principal and certificate repurchase arrangements. The investigation found no evidence that participants’ money was managed through a collective investment fund or that the foundation acted as the fund’s manager, a regulated activity for which it was not authorized. The measure applies only to the public funds raised without authorization and does not affect the foundation’s lawful activities. The Superintendency referred the matter to the Superintendency of Companies for potential intervention and to other competent authorities, including the Attorney General’s Office and the Superintendency of Notaries and Registration.
2026-09-02Superintendencia Financiera de Colombia
Financial Superintendency of Colombia halts unauthorized fundraising scheme that collected COP 9.49 billion from at least 318 people
The Financial Superintendency of Colombia halted an unauthorized scheme through which Fundación FG – Administrador de Fideicomisos Civiles collected COP 9.49 billion from at least 318 people. Participants contributed at least COP 2.5 million and were offered annual returns of 18% to 28%, although the foundation was not authorized to manage collective investment funds. The matter was referred to the Superintendency of Companies and other authorities.