The Joyvio group filed a complaint for fraud after paying US$ 921 million for a company that, it claims, had an artificially inflated valuation due to unsustainable overproduction of salmon.
This Wednesday, Isidoro Quiroga, former controller of Australis Seafoods, was formally charged in the context of the case of the sale of the company to the Chinese conglomerate Joyvio, which accuses a series of irregularities in the process, concealment of information and other aspects that resulted in a patrimonial loss of approximately US$ 620 million.
Former finance manager Santiago Garretón and former chairman of the board, Martín Guiloff, were also charged.
At the request of the Public Prosecutor's Office, Quiroga and Garretón were required to sign in every 3 months, the first in La Reina and the second in Puerto Varas. In addition, both were granted national residency with a bond requested by the defense of $10 million (US$ 9,917), in case they request to leave the country for work.
Guiloff, for his part, lives in Spain, so he was left alone with a signature every other month at the consulate in Madrid.
ISIDORO QUIROGA CHARGED FOR AUSTRALIS CASE
As for crimes, the Chinese group Joyvio filed a complaint for fraud after having paid US$ 921 million for a company that, it claims, had an artificially inflated valuation due to unsustainable overproduction of salmon.
The company's actual value was therefore US$299 million.
Regarding why more serious precautionary measures were not requested, the plaintiff's lawyer for the Joyvio group, Gabriel Zaliasnik, commented.
"We want Mr. Qiroga and all those involved in this crime to be convicted by the Chilean justice system and face prison sentences, not early or temporary sentences, as could happen in a case like this," Zaliasnik said.
The other plaintiff, for the crime of disloyal administration, is the current management of Australis Seafoods, from where they claim that the accused planned cycles of overproduction, knowing that this could compromise the company's assets.
The Environmental Superintendency (SMA) has imposed fines of US$70 million for up to 57 cycles, in some of which overproduction reached up to 107%.
The defence claims that this would have been a change in criteria by the SMA when inspecting salmon farms, not only based on the number of fish, which had been the custom, but also in terms of their weight.
Isidoro Quiroga's defense attorney, Alex van Weezel, said that "the crime of unfair administration implies that at the time of the events, the same concept existed as exists today in the SMA regarding what overproduction is. There are so many antecedents in the file that show that the concept that was held about overproduction, at that time, was different from the current one."
Finally, the plaintiffs are seeking an oral trial. In addition, the Chinese group Joyvio will ask for the full restitution of the money, US$ 921 million, plus another US$ 300 million in damages.
