With a street of honor, made by employees of the Interaseo company, the last goodbye was said to the powerful Paisa businessman William Vélez, after his surprising death, on May 19, 2025. The official version is that he lost his balance in a doctor’s office in Medellín and received a fatal blow to the head.
From former presidents of the Republic to industrialists and politicians came out to regret the episode, while cataloging Vélez as a visionary, head of an emporium of more than 30 companies. with offices in Panama, Mexico, Chile, El Salvador, Honduras, Colombia, Bolivia, Peru and Ecuador.
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The double file
Temomorichal is located in Puerto Gaitán (Meta). Photo:Private file
But, 8 months ago, The Investigative Unit of EL TIEMPO revealed for the first time a shady business in which one of Vélez’s companies had just received 42 million dollars from the depleted coffers of Ecopetrolfor the sale of the Termomorichal I and II generation plants, an episode that once again left the businessman in the spotlight of justice.
In fact, In addition to the criminal process for influence peddling against Ricardo Roa, former head of the state company – in which, according to experts from the Prosecutor’s Office, the purchase of his apartment 901 is the cornerstone – the case in which Vélez is mentioned is the second most advanced of the package that involves the state oil company and that is part of the internal forensic audit.
“With the death of Mr. Vélez, this investigation did not cease. On the contrary, the conduct of executives and former directors of Ecopetrol, including board members, is being reviewed”said an informed source.
The old board of directors of Ecopetrol and Ricardo Roa. Photo:Private file
At the time, Roa told this newspaper that he declared himself unable to learn about the million-dollar business – which He passed through the board, when its president was Mónica de Greiff -, because Vélez was his boss in Honduras and then he employed his partner, Julián Caicedo.
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The heirs
Sandra Vélez, daughter of William Vélez. Photo:Private file
The concrete thing is that, now, in the midst of these investigations, the Investigative Unit of EL TIEMPO established that A multimillion-dollar and visceral fight broke out between Vélez’s heirs: his daughters Sandra María Vélez Mesa, an executive at the emporium, and Lina María Vélez Gaviria, a fashion designer.
Jaime Lombana, lawyer. Photo:Andrea Moreno/El Tiempo
“What is at stake are billions of dollars. “We are talking about the fourth largest business group in the country”said the same source.
The criminal lawyer Fabio Humar Jaramillo. Photo:Private file
It is not without reason that the parties have used major league lawyers. On Sandra Vélez’s side, criminal lawyers Jaime Lombana and Néstor Camilo Martínez appear in the middle of the fight, who even appears as president in one of the most recent assemblies of the Ethuss Groupone of the flagships of the Vélez conglomerate.
And on the side of Lina Vélez includes Jaime Granados, Fabio Humar and the Brigard and Urrutia officewith Tomás Holguín and Sergio Michelsen.
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From zero to US$42 million
Ricardo Roa, head of Ecopetrol, businessman William Vélez and Julián Caicedo Cano. Photo:EL TIEMPO/ Private Archive
Removal of directors, complaints for unfair administration, guardianships, accusations of missing millionaires, alleged falsehoods in an Interaseo meeting – another of the emblematic companies of the Vélez emporium – are part of the fight.
The only thing that, For now, what unites the sisters, in addition to their blood, are the investigations that fall on the business with Ecopetrol.
The Investigative Unit of EL TIEMPO accessed the file and there internal documents of the oil company indicate that, in June 2024, When the calendar marked the 120th month of the contract between Ecopetrol and Termomrichal, the oil company had two alternatives.
One was to allow it to expire, which would have guaranteed the transfer of assets without payments, according to the historical interpretation. what lawyers and advisors from the state company had been doing. The second, which was the one that ended up approved, was to exercise the purchase option contemplated in clause 12.
Indeed, on June 11, 2024, The disbursement of approximately 41.68 million dollars was ordered and it was requested to process Additional 8 to extend the operations and maintenance of the two plants.led by Vélez, until June 30, 2025.
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The emails
Mónica de Greiff, former board member of Ecopetrol. Photo:CCB
The Investigative Unit of EL TIEMPO established that, in 2016, Emails and internal messages from the oil company recorded a unanimous position: that, upon completion of the tenth year of the contract, the transfer of Termomrichal should be executed “without the need to make additional payments.”
But, in April 2024, the Legal Vice Presidency established the new interpretation According to this analysis, due to the contract model and the principle of commutativity of the businessany transfer required a payment.
But for researchers It is clear that a change in legal doctrine required documentary traceability to support the payment to Vélez’s company. However, there is no evidence of an administrative act that explicitly replaced the ‘zero cost’ interpretation.
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The heirs speak
Lina Vélez, daughter of William Vélez. Photo:Private file
Although lawyers and advisors involved in the millionaire fight for Vélez’s fortune refrained from speakingDue to the reservation, spokespersons for both sisters sent statements.
“I have not been, nor am I, in charge of the administration or control of the Ethuss Group or the Interaseo Group. I also did not participate in the decisions nor in the operations of the companies that are currently the subject of controversy,” Lina said.
And he added: “Based on a series of decisions and complex corporate movements in Colombia and Panama, I was excluded from information, participation in decisions and good corporate governance. of the effective exercise of my political rights and effective access to the family assets that correspond to us by express provision of my father.”
Sandra Vélez was also emphatic that she had no participation in the Termomrichal issue.
And he added: “I have done nothing but work to protect the interests of my sister and myself. I hope I understand that one day.”
The fight continues and so does the investigation.
INVESTIGATIVE UNIT
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@UinvestigativaET
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