No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeArchiveWhile one dad goes to jail on fraud charges in Costa Rica

While one dad goes to jail on fraud charges in Costa Rica

Four-year fugitive Thomas Jafeck, wanted for financial fraud in Costa Rica, was arrested in Miami on July 28.

Jafeck, 70, shut down his Costa Rica Green company, an unregulated investment outfit in the Mercedes Tower on Paseo Colón, in 2002. Judicial authorities here issued arrest warrants for him, his son, Thomas, 47, and wife, Billie Joe, 70, in 2004.

According to an Interpol press release, the company attracted national and foreign investors in 2001, promising returns of three percent or more.

“What is certain is that this company had no specific activity that would generate this return,” the press release states. “In its advertising information, they hid the truth and presented false information in order to defraud its investors. Taking advantage of the fact its investors didn´t understand the country´s laws, they transferred the money to different banks and, in December 2002, they closed their offices and refused to pay their clients.”

Costa Rican authorities will request Jafeck´s extradition. If extradited and convicted here, Jafeck could face up to 10 years in prison.

Interpol Costa Rica spokesman Emilio León said he hopes U.S. authorities will extradite Jafeck. He said the fact that Interpol Washington forwarded the arrest information is a hopeful sign.

The United States rarely extradites its nationals to face trials here, León said, and Costa Rica never extradites its citizens. The two countries have an extradition treaty, but it doesn´t require either to extradite its citizens. Costa Rica has 60 days from the date of the arrest to file for Jafeck´s extradition.

Trending Now

In Memory of Carlos Alvarado Valverde: A Highly Regarded Authority on Costa Rican Security

Carlos Alvarado Valverde, former director of the Coast Guard, former head of the Costa Rican Drug Control Institute (ICD), and respected security analyst, died...

Trump Announces Pardon for Convicted Former Honduran President Hernández

President Donald Trump declared on Friday that he plans to grant a full pardon to Juan Orlando Hernández, the former president of Honduras serving...

Messi’s Inter Miami will play its first MLS final against Müller’s Whitecaps

On a magical night in front of their fans, Lionel Messi’s Inter Miami thrashed New York City 5–1 on Saturday and advanced to the...

Costa Rica Faces Escalating Gender Violence Crisis, Ombudsman Warns

Costa Rica's Ombudsman has sounded the alarm on a deepening crisis of violence against women, with femicides hitting a peak not seen in over...

No Army in Costa Rica: How a 1948 Decision Changed Central America

On December 1, 1948, José Figueres Ferrer, President of the Founding Junta of the Second Republic, officially abolished the Costa Rican army by symbolically...

Latin America Poverty Falls to Record Low in 2024 but Inequality Remains Stark

Poverty in Latin America fell by 2.2 percentage points in 2024 compared to the previous year and now affects 25.5% of the population, the...
Avatar
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica