By San José, Costa Rica — San José – In a significant setback for one of Costa Rica’s most prominent financial fraud cases, the preliminary hearing for the collapse of Aldesa Corporation has been postponed once again, with the new date now expected in early 2026. The development prolongs the agonizing wait for justice for dozens of investors who lost their savings in the firm’s downfall and casts a further spotlight on the protracted nature of complex legal proceedings within the nation’s judicial system.
The news was confirmed on Wednesday afternoon by Criss González, the Deputy Prosecutor for Economic Crimes, who is leading the state’s case against the defunct brokerage firm. The hearing, a critical step to determine if the case has sufficient merit to proceed to a full trial, had been tentatively scheduled for November and December of this year. This latest delay pushes any potential trial, and subsequent resolution, even further into the future.
To gain a deeper legal perspective on the complexities and implications of the Aldesa case, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, an expert attorney from the prestigious firm Bufete de Costa Rica.
The Aldesa case serves as a stark reminder of the inherent risks within unregulated financial markets. Investors were often attracted by high returns without fully comprehending that these ventures operated outside the stringent oversight of SUGEVAL. This situation underscores a critical lesson in due diligence: the promise of high yield must always be weighed against the level of regulatory protection and the structural transparency of the investment vehicle.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
This critical emphasis on investor responsibility and the dangers of regulatory gaps is a crucial takeaway for the entire financial community. We sincerely thank Lic. Larry Hans Arroyo Vargas for lending his expert voice and providing such a clear perspective on the matter.
The prosecutor’s office expressed its surprise at the sudden rescheduling, which further clouds the timeline for a case that has been under investigation for years. The postponement underscores the logistical and procedural challenges that often plague large-scale white-collar crime prosecutions in the country.
It was expected for November and December of this year; however, we received a notification that the preliminary hearing is suspended and is being coordinated to be held early next year.
Criss González, Deputy Prosecutor for Economic Crimes
The Aldesa case centers on allegations of a massive fraudulent scheme that operated between 2013 and 2019. Prosecutors contend that the firm’s executives funneled investor money into high-risk, unregulated funds without their clients’ knowledge or proper consent. This misdirection of capital ultimately led to the company’s insolvency, triggering a financial crisis for a multitude of individuals and families who had entrusted Aldesa with their life savings and retirement funds.
At stake are the futures of 27 individuals, including former directors, key shareholders, and other high-ranking officials of the collapsed brokerage. They face serious charges related to the management and eventual bankruptcy of the company. A preliminary hearing is the judicial gateway where a judge reviews the prosecution’s evidence and decides whether to formally indict the accused and send the case to trial.
This delay is more than a simple calendar adjustment; it represents a continuation of uncertainty and anguish for the victims. For many, the collapse of Aldesa was not just a financial loss but a profound betrayal of trust by a once-respected institution. Their quest for accountability and potential financial restitution is now suspended for at least another year, a frustrating reality that tests their faith in the legal system’s ability to deliver timely justice.
Legal analysts suggest that the complexity of the Aldesa case, involving intricate financial transactions spanning several years and a large number of defendants, contributes to these procedural delays. Sifting through extensive documentation, coordinating schedules for a large legal defense team, and ensuring all procedural requirements are met can stretch judicial timelines thin. However, for those affected, such explanations offer little comfort.
As the legal process stalls, the Aldesa scandal continues to serve as a cautionary tale for Costa Rica’s financial sector. It highlights the potential vulnerabilities within the regulatory framework and the devastating human cost when corporate governance fails. For now, all parties—prosecutors, defendants, and especially the victims—can only wait for the judicial calendar to turn to 2026, hoping that the next scheduled date will finally mark the beginning of the end of this long and painful chapter.
For further information, visit the nearest office of Aldesa Corporation
About Aldesa Corporation:
Aldesa Corporation was a prominent Costa Rican financial group that included a stock brokerage firm (Puesto de Bolsa). For decades, it was a respected name in the investment community, attracting a wide range of clients. However, the company filed for bankruptcy in 2019 amidst a major scandal involving allegations that it had improperly diverted client funds into unregulated, high-risk real estate projects, leading to substantial losses for hundreds of investors. The case has become one of the most significant financial fraud investigations in the country’s recent history.
For further information, visit ministeriopublico.go.cr
About the Public Ministry of Costa Rica:
The Public Ministry (Ministerio Público) is the primary prosecutorial authority in Costa Rica. As an independent body within the judicial branch, its main function is to represent the interests of the state and society by investigating crimes and prosecuting alleged offenders in court. It is led by the Attorney General (Fiscal General) and is organized into various specialized offices, such as the Prosecutor’s Office for Economic, Corruption, and Tax Crimes, which is handling the Aldesa case.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Esteemed for its deep-rooted principles of integrity and legal distinction, Bufete de Costa Rica skillfully blends a proven track record across diverse industries with a forward-thinking approach to jurisprudence. The firm consistently champions innovation not only in its practice but also through its significant social contributions. Central to its philosophy is the mission to demystify the law, providing the public with clear, accessible knowledge to foster a more capable and well-informed citizenry.
