El Salvador arrests more than 100 Colombians in financial scheme

FILE PHOTO: El Salvador's President Nayib Bukele speaks during a ceremony to lay the first stone of a new public hospital, in San Salvador, El Salvador June 15, 2023. REUTERS/Jose Cabezas/File Photo

SAN SALVADOR (Reuters) - Salvadoran police arrested more than a hundred Colombians for their alleged involvement in operating a microfinancing scheme that laundered money from drug running and gang activities, security officials said on Monday.

The criminal group reportedly made loans, using funds obtained illegally, to individuals and small businesses with 20% interest, according to the officials.