The Superintendency of Banking, Insurance and AFP (SBS) ordered the closure of the premises of the financial institution JUBEADSA LYG COORPORATIVO SAC, known as Grupo Económico L&G, because it operated informally in Arequipa, Lima, Chiclayo and Juliaca.
According to SBS resolution No. 02982-2024, this entity had been promoting and carrying out fundraising activities from the public without authorization from the SBS, thus contravening the provisions of Article 11 of Law 26702.
That is why today, the SBS, together with the Police and the Attorney General’s Office, closed the premises that the L&G Economic Group had set up in Arequipa, which is located on Lima Avenue, business center, Nasya II building, in the Yanahuara district. In addition, the closure of the premises in other cities was ordered.
The company promoted its activities through different Facebook pages.
How did it operate?
This informal financial institution collects money from the public by offering to subscribe to documents called ‘money loan contracts’, ‘loan contracts’ and/or ‘informed investment contracts’, promising in exchange the delivery of a minimum capital of 10 thousand soles.
It guaranteed the payment of a return ranging between 6, 12, 19 and 26%, depending on the term established in said contracts, which varied between 4, 6, 9 or 12 months, respectively.
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The SBS had requested that the company refrain from continuing its activities, but the company was reluctant to comply.
For this reason, in addition to the closure, the entity filed a criminal complaint for collecting money from the public and for disobedience and resistance to authority before the Public Prosecutor’s Office.
