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Joyvio’s Food Investment has filed a complaint against Isidoro Quiroga and the circle of directors that were in charge at the time of his mandate. This action is another step forward in the disputes between the former and current owners of Salmones Austral.

The subsidiary of Joyvio has filed a comprehensive 77-page brief outlining what they consider one of the “biggest frauds in the history of Chile.” This is crystal clear through “a set of fraudulent acts of a gigantic patrimonial magnitude, which constitute a sophisticated and complex scheme meticulously developed over several years by the defendants.”

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Thus, in the complaint, Joyvio provides detailed information on the modus operandi used by Isidoro Quiroga and his inner circle. This group includes the family and friends of Isidoro Quiroga. On the one hand, his sisters, María Victoria and María Dolores Quiroga, and his sons, Isidoro and Benjamín Quiroga Moreno. On the other hand, former executives of Australis Martín Guiloff Salvador, Santiago Garretón Sánchez, and Luis Felipe Correa. The brief, supported by lawyer Gabriel Zaliasnik, reveals a deliberate manipulation of environmental regulations. The collection of incriminating emails and documents provides “pieces of evidence” of a fraudulent scheme involving Quiroga and his associates. These materials expose their acknowledgment of overproduction and strategic plans to conceal it, shedding light on their deceptive practices.

A deliberate and planned action

In the text of the complaint, it is clarified that if there had been no deception, he might not have decided to acquire it. Moreover, “the calculation of the value of the company was made based on the annual production, which as is now known, was based on overproduction and was therefore impossible to achieve and maintain over time, in compliance with environmental regulations.”

Finally, the complaint clarifies that in the Australis purchase and sale process, production was fundamental in setting the purchase price. It adds that such overproduction allowed the “company to show improper income and margins that were being generated illegally. Thus, allowing them to overvalue the company and agree to the payment of an exorbitant price.” Therefore, it is considered that in the transaction “the [financial] structure of Australis presented to Joyvio was completely false and adulterated.”

Both parties have taken steps to bring the case before a judge. Until then, all there is are disputes between the two over who is right.

About Salmones Australis

Australis Seafoods has emerged as a prominent force in the Chilean salmon industry, attributed to its entrepreneurial leadership. With a focus on vertical integration, the company excels in fish farming and the production of seafood products.

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