The Superintendent of the Family Subsidy, Angie Katherine Monroy Bobadilla, announced the total administrative intervention of the Family Compensation Fund of Norte de Santander – COMFANORTE, for an initial period of 15 months. This precautionary measure was taken after detecting significant irregularities in the management of the entity.
The intervention includes the immediate separation of the Administrative Director and the members of the Board of Directors, after irregularities were found in the operation of the Housing program, particularly en the Torres del Norte project. Initially budgeted at $2.6 billion, the project has undergone multiple modifications and extensions, andraising the investment to around $9,000 million pesos, without a clear justification.
The uncertainty surrounding the extensions granted by the Board of Directors for the return of the resources used to finance the housing project was also a determining factor in the decision to intervene. The SuperSubsidio seeks to protect the parafiscal resources invested in the project and guarantee the recovery of the funds usedwhich amount to nearly $9,000 million pesos.
As part of the intervention, German Antonio Bautista as the new Administrative Director, already Claudia Lorena Cortez Arias as Special Intervention Agent replacing the Board of Directors.
With 14,959 affiliated companies As of March 31, 2024, COMFANORTE is one of the largest family compensation funds in the region. The Superintendent assured that all necessary measures will be taken to safeguard the interests of members and guarantee transparency in the management of the entity during the intervention period.
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