Colombia: SIC tears down private security cartel

Colombia’s Superintendence of Industry and Commerce has fined 7 companies in the private security and surveillance sector, along with 17 senior executives, for a total of more than $ 26 billion pesos ($8 million USD) for violating free competition regulations in public procurement processes.

In 2011 the Colombian Family Welfare Institute (ICBF) informed the SIC of alleged uncompetitive agreements in the context of Public Bidding LP-001 held in 2011. The ICBF reported that during the course of the bid, STARCOOP and GUARDIANES were introduced as alleged competitors, when in fact they were coordinating to ensure that one or the other would win the bidding process.

The SIC found that the 7 sanctioned companies had formed a “de facto” corporate structure, dubbed “SMG Group”, which is controlled by Jorge Arturo Monero Ojeda and through which they manipulated numerous Contracting with different public entities.

Full Content: Confidencial Colombia

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