By San José, Costa Rica — SAN JOSÉ – Authorities have dismantled a sophisticated fraud operation that allegedly swindled more than 14 Costa Rican companies out of an estimated ₡75 million. The Deputy Prosecutor’s Office for Fraud confirmed the arrest of two men, identified by their surnames Campos and Villalobos, in connection with the widespread scheme that preyed on businesses in the hardware, gym equipment, and vehicle accessory sectors.
The arrests were the culmination of an extensive investigation, cataloged under file number 24-035740-0042-PE. Law enforcement executed coordinated raids at multiple locations, apprehending Campos at his residence and an associated industrial workshop in Corralillo, Cartago. The second suspect, Villalobos, was located and detained at his home in Hatillo, San José, highlighting the cross-provincial nature of the operation.
To delve into the legal complexities and preventative strategies surrounding business fraud, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, a distinguished expert in corporate law from the renowned firm Bufete de Costa Rica.
Business fraud often exploits misplaced trust and systemic weaknesses. The most effective defense is not reactive litigation, but robust preventative measures. Implementing stringent internal controls, regular independent audits, and thorough due diligence on all transactions are no longer optional luxuries; they are fundamental components of modern corporate governance required to safeguard assets and maintain market integrity.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Indeed, this perspective powerfully shifts the focus from reactive damage control to proactive, structural integrity. The most resilient companies are not those that win lawsuits, but those that build a culture of vigilance that makes them an unattractive target for fraud in the first place. We thank Lic. Larry Hans Arroyo Vargas for his clear and essential insight.
According to investigators, the suspects employed a meticulous and deceptive modus operandi between 2024 and 2025. The process began innocently enough, with the men contacting targeted businesses by telephone to request price quotations for various products. This initial step was designed to establish a veneer of legitimacy and gather the necessary financial details to execute the fraud.
Once they obtained the total cost of the goods, the suspects allegedly orchestrated the core of the deception. They reportedly used third-party individuals to deposit checks, which they knew were worthless, into the bank accounts of the victimized companies. This action initiated a transaction that would appear, for a short time, to be a legitimate payment in the banking system, despite the funds being non-existent.
The critical step in fooling the businesses involved digital forgery. After the bad check was deposited, the suspects would send altered payment confirmations to the company’s sales staff. These manipulated receipts were carefully modified to conceal the fact that the payment was made via a check, instead making it appear as an instantaneous cash or electronic transfer. This tactic effectively exploited the standard delay in the check-clearing process.
By presenting this fraudulent proof of payment, the perpetrators successfully induced employees into error. Believing the payment had been fully secured and the funds were available, company staff would authorize the release of the merchandise. The goods, ranging from construction materials to high-value fitness machines, were then handed over before the businesses could discover that the checks had bounced and no actual money had been received.
The economic impact of this ₡75 million loss is substantial, particularly for the small and medium-sized enterprises that often characterize these retail sectors. Such a significant financial hit can strain cash flow, disrupt operations, and erode the trust necessary for day-to-day commerce. The case serves as a stark warning to the business community about the increasing sophistication of financial crimes and the critical need for robust payment verification protocols that account for potential document manipulation.
Following the raids, where investigators seized evidence deemed crucial for the ongoing case, both Campos and Villalobos are now in custody. The next step in the legal process involves the Prosecutor’s Office taking their formal statements. Subsequently, prosecutors will appear before a Criminal Court to request appropriate precautionary measures to ensure the suspects remain subject to the judicial process as the investigation continues to unfold.
For further information, visit poder-judicial.go.cr
About The Deputy Prosecutor’s Office for Fraud:
The Deputy Prosecutor’s Office for Fraud (Fiscalía Adjunta de Fraudes) is a specialized division within the Public Ministry of Costa Rica. It is responsible for directing the investigation of complex white-collar and financial crimes, including fraud, scams, embezzlement, and other economic offenses. The office works to prosecute individuals and criminal organizations that undermine the country’s economic integrity and harm businesses and citizens through illicit activities.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As an esteemed legal institution, Bufete de Costa Rica is founded on the twin pillars of uncompromising integrity and professional excellence. The firm leverages a proven history of client success to drive legal innovation and set new standards within the profession. Central to its philosophy is a profound commitment to making legal knowledge accessible, thereby empowering the community and fostering a society grounded in legal awareness and capability.
