Argentine Authorities Investigate Businessman for Money Laundering

Argentine authorities have launched an investigation into businessman Maximiliano Ariel Vallejo, president of the Sur Finanzas group, on suspicion of money laundering. The investigation, driven by the Financial Information Unit (UIF) and the Prosecutor's Office for Economic Crime and Money Laundering (Procelac), detected suspicious financial movements exceeding 6 billion pesos linked to companies under his orbit or related to his business environment. The report that originated the investigation points to the firm Construcciones TAR as the main axis, created in 2022 by two alleged frontmen. In parallel, the Central Bank and the UIF continue to cross-reference information with financial and exchange entities to determine the final destination of the funds. Sur Finanzas, Vallejo's flagship company, grew rapidly since 2020 and consolidated itself as one of the main financial firms in the Buenos Aires metropolitan area. In 2024, it became a sponsor of the Professional League, the Argentine National Team, and several clubs, including Racing, Banfield, Barracas Central, Platense, and Los Andes. The businessman is frequently seen alongside sports figures and political leaders. Investigators believe these firms were used to launder funds originating from the construction company. The complaint filed by Procelac, led by prosecutor Diego Velasco, warns that the money's origin would be deposits and transfers made by individuals registered in the monotributo in low categories or even with no declared economic activity. In one case, the businessman held a 20% stake alongside his mother and business partner. In his presentation before Judge María Eugenia Capuchetti, the prosecutor's office detected a discrepancy of over 4 billion pesos between banking income and recorded sales, which constitutes, according to the ruling, a "significant formal difference in undocumented income." The case was delegated to Economic Crimes Prosecutor Emilio Guerberoff, who ordered the Prefectura Naval's Department of Economic Crimes to provide a comprehensive report on Vallejo's financial and corporate movements. The funds were channeled into agricultural societies, pharmacies, maritime agencies, football clubs, and mainly, exchange houses. Among the recipients of these transfers are Concordia Inversions and Concordia Investment Center, two entities that, according to Central Bank records, were controlled by Vallejo and his family. In just ten months, that company received over 6 billion pesos in three bank accounts, without the amount being backed by its billing or the scale of its operations. Buenos Aires, November 3, 2025 – Total News Agency-TNA – The federal justice system has opened a case for alleged money laundering against businessman Maximiliano Ariel Vallejo, president of the Sur Finanzas group and a close associate of the head of the Argentine Football Association (AFA), Claudio 'Chiqui' Tapia. During its expansion, it reached over twenty branches, offering loans, currency exchange, safety deposit boxes, and a digital wallet for small businesses. Some institutions recognize payment delays and the "cooling" of commercial agreements with Sur Finanzas after the start of the case became known. Although Vallejo denied knowing the complaint against him, the justice system is analyzing his role in the operations of the exchange houses and his potential participation in maneuvers to conceal the origin of illicit funds. The investigation aims to determine if there was a money laundering circuit that took advantage of the structure of professional football and financial service companies to enter money without justification into the formal system. His economic rise and his prominence within football have raised suspicions in control bodies, which detected an expansion of assets incompatible with his declared activity. Judicial authorities are also investigating if part of the funds may have circulated through the football system through sponsorship contracts or indirect transfers to sports entities. On his social networks, he published photographs with the captain of the National Team, Lionel Messi, and messages of support for Tapia.