Chinese cement importer Juan Carlos Bolaños will spend 6 more months concrete walls (pun intended), after this Friday the Criminal Court of the Second Circuit extended his preventive detention (remand), while the Ministerio Publico (prosecutor’s office) advances in their investigation into the “cementazo” case.

Juan Carlos Bolaños, importer of Chinese cement, will remain in prison while the criminal investigation continues

In addition, the former manager of the Bank of Costa Rica (BCR) Mario Barrenechea, will spend another 6 months under house arrest, also as a preventive measure for the same investigation.

Bolaños was arrested a year ago, on November 3, 2017, for the alleged crimes of embezzlement, influence peddling, slanderous denunciation and simulation of a crime, revolving around the processing of 2 lines of credit for about US$40 million dollars by the BCR, for the importation of cement from China.

One day after the arrest, on November 4, 2017, Bolaños was ordered to three months preventive detention and renewed since.

Another 5 members of the BCR credit committee were also given three months in preventive detention for their role in the Cementazo:

  • Marvin Corrales Barboza, retail banking manager;
  • Gilberth Barrantes, corporate manager of risk management;
  • Rodrigo Ramírez, manager of credit management;
  • Leonardo Acuña, deputy finance manager (also a.i. manager);
  • Andrés Víquez Lizano, deputy manager of wholesale banking.

The first three, at the end of the three months, were released without precautionary measures, while the latter two were ordered to house arrest and in mid-September were freed without restrictions. All five continue to be investigated in the criminal proceeding.

In the case of Barrenechea, his house arrest continues.

Bolaños is the only one who continues in prison.


Stay up to date with the latest stories by signing up to our newsletter, or following us on Facebook.