Former tannery bosses could face prison
09/04/2008
The former owners of the Yoma tannery in Nonogasta, in the Argentinian province of La Rioja, could face prison sentences of up to nine years.
The company went into liquidation last year and its owners now face the prospect of 13 plots of land and buildings they own around the country being sold at auction so that they can repay a series of bank loans they received to keep the leather producing facility—now owned by Brazilian tanning group Bom Retiro—running.
A judge has declared April 25 as the day the auction will take place.
However, it has also come to light that the former owners face a VAT probe. The authorities have suggested that the Yoma tannery claimed back VAT on leather it exported without having the required documentation in place.
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