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Jaime Michelsen Uribe

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Jaime Michelsen Uribe
Born(1930-03-25)March 25, 1930
Bogotá, Colombia
Died(1998-07-04)July 4, 1998
Bogotá, Colombia
NationalityColombian
Occupation(s)Banker, businessman
Years active1945 - 1998
SpouseMaría Cristina Niño Reyes (1954-1998)
Parent(s)Ernesto Michelsen Mantilla
María Uribe Portocarrero

Jaime Michelsen Uribe (Bogotá, March 25, 1930 - Ibid., July 4, 1998) was a Colombian banker and businessman.

He was one of the most successful businessmen in Colombia, as owner of the largest economic conglomerate in the country, the Grancolombiano Group, to which important companies in the country belonged.[1][2][3][4] As head of the conglomerate, Michelsen was involved in one of the largest corruption scandals in the history of the Colombian stock market.[5][6][7][8]

Biography

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He was the son of banker Ernesto Michelsen Mantilla, director of the Banco Central Hipotecario, and his wife María Uribe Portocarrero. He studied law, and in 1945 he joined the National Insurance Company of Colombia, where he worked and acquired experience and capital.

Business activity

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Michelsen managed to amass a small fortune, and in 1959, he created the Grancolombiana Credit Insurance Company, S.A.[9] which was the first company of his future conglomerate[10] He also acquired Banco de Colombia from its owners, a key company in his business success.

One of his partners was businessman Héctor Mario Barrero, whom he helped financially and supported in two of his business crises. Michelsen also took control of some of Barrero's companies, which allowed him to grow his number of companies.[11]

Grancolombiano Group

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Main article: Grupo Grancolombiano
Conglomerate logo

He founded the most important business system in Colombia, the Grancolombiano Group, created on September 14, 1972, due to the appearance of the Housing Savings Corporations, during the government of President Misael Pastrana. The conglomerate's logo was an eagle with outstretched wings.[12]

In 1974, Michelsen founded the National Association of Financial Institutions (ANIF), which was chaired by the liberal politician Ernesto Samper.[13]

Thanks to the capital he acquired, Michelsen became the owner of several important companies in the country, and by 1983, he was the owner of 20% of the Colombian stock market, and of around 64 companies, including Cine Colombia, the National Chocolate Company, the Bank of Colombia, the higher education institution Politécnico Grancolombiano,[14] among other investments.

Stock market scandal

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In 1982 a media scandal broke out, led by the newspaper El Espectador,[15][16] in which he reported that members of the group's board of directors (including several members of the López and Michelsen families) were making loans to themselves,[17][18][19] This practice was prohibited under Colombian law. In addition, speculative operations were carried out using false properties as collateral, so clients were left without backing for their savings, and shareholders ran the risk of losing their contributions.[20] The Michelsens allegedly took advantage of a state of emergency declared by the government to carry out their illicit activities.[18]

In response to the accusations, the group withdrew advertising from the paper and campaigned for all its partners not to take out advertisements with the newspaper, which greatly damaged the finances of the newspaper, El Espectador.[21] Despite the blow, Guillermo Cano, the newspaper's director, supported his journalists' investigations into the Grancolombiano case. In 1983, the Betancur government intervened in the scandal, taking over the Banco de Colombia.[22][23][24] Likewise, the National Securities Commission was created to confront the crisis.[17]

Faced with this situation, Michelsen Uribe fled to Miami on December 31 of that year, after the intention to prosecute him became public.[25][26][27][28] The financial collapse is believed to have amounted to 500 million pesos at the time.[29]

The group was dismantled during 1983 and 1984. The government liquidated other companies in the conglomerate, to secure the obligations it had incurred over the years.[30] However, the strongest company resulting from the group's collapse was Banco de Colombia, which was renamed Bancolombia, today one of the most important business entities in the country.[31] On January 9, 1984, an arrest warrant was issued against him.[18] He lived in Miami for a while and then moved to Panama, where he continued his business. He then returned to Colombia in 1988.[32] Upon his arrival he was captured, and after regaining his conditional freedom, he escaped back to Panama. He only spent two years in prison, as his lawyers were able to prove that due to his health and age it was impossible for him to serve a longer sentence.[20][33][34]

Later years and death

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Upon his return to Panama, Michelsen arrived sick and was admitted several times to the Country Clinic in Bogotá, which worsened his health until his death. He died on July 4, 1998, at the age of 68, in his residence in the Quinta Camacho neighbourhood in northern Bogotá.[10] His death came after four years of illness.

His funeral was held in the Chapel of Gimnasio Moderno, on July 5 and was buried in the Central Cemetery of Bogotá, in the family crypt.[35]

Family

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He belonged to the Michelsen family, which, due to family, political and business connections, was one of the most important in Colombia in the last century. However, his family also enjoyed prestige on its own merit.[36] His father was the important banker Ernesto Michelsen Mantilla, who was a descendant of the German businessman Karl Michelsen Koppel, of Jewish descent.

He was the grandfather of the lawyer and politician Cristina Plazas Michelsen, High Advisor for Women's Equality in the government Santos, Bogotá councilor, presidential secretary of Santos and former director of the ICBF[37][38]

Alfonso López's son, Felipe López Caballero, tried to get Michelsen Uribe to invest in his journalistic project, revista Semana, recently acquired by him from Alberto Lleras Camargo. However, Michelsen declined the offer.[39]

Camila Michelsen's kidnapping

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His daughter Camila Michelsen Niño, a young woman at the time of the events,[40] She was kidnapped by the April 19 Movement (M-19) on September 24, 1985.[41] It was plagiarized in the Politécnico Grancolombiano[42] where the captors entered, who threatened the girl's teacher.[43] Among the motives for the kidnapping, the guerrilla claimed responsibility for Michelsen's financial crisis that was hitting the country in those years. In fact, the M-19 demanded that Michelsen publicly account for the fate of the money of those affected in his companies in the country's newspapers.

After a long negotiation, and the payment of his ransom of 500 thousand dollars,[44] Camila was released on July 31, 1987.[45] However, her father, who was a fugitive in Panama, reported to the Colombian press that despite the ransom payment, the young woman was detained on two more occasions.[43]

References

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  1. ^ "Canal 1, la asfixia económica puede lo que la censura no alcanza". El Cronista (in Spanish). 2019-09-04. Retrieved 2020-09-07.
  2. ^ "La rebelión de las ratas". Las2orillas (in Spanish). 2018-08-03. Retrieved 2020-09-07.
  3. ^ "Nostalgias empresariales". El Nuevo Siglo (in Spanish). Retrieved 7 September 2020.
  4. ^ "FINALES TRISTES, NUEVO LIBRO DE ARTUNDUAGA". Noticias Principales de Colombia Radio Santa Fe 1070 am. Retrieved 7 September 2020.
  5. ^ "La nieta del ex banquero Jaime Michelsen Uribe - ELMUNDO.COM". www.elmundo.com (in Spanish). Retrieved 7 September 2020.
  6. ^ "Es hora de reducir el Congreso". www.vanguardia.com (in Spanish). 18 April 2020. Retrieved 7 September 2020.
  7. ^ "Los 25 casos de lavado de activos más famosos". www.infolaft.com (in Spanish). Retrieved 7 September 2020.
  8. ^ "La doble moral: Un virus de la Justicia". laorejaroja. Retrieved 7 September 2020.
  9. ^ "Las armas del periodismo: el Grupo Grancolombiano". ELESPECTADOR.COM (in Spanish). 2019-06-02. Retrieved 2019-09-24.
  10. ^ a b Tiempo, Casa Editorial El (1998-07-05). "MURIÓ EN BOGOTÁ JAIME MICHELSEN U." El Tiempo (in Spanish). Retrieved 2019-09-24.
  11. ^ "Héctor Mario Rodríguez / ojoprivado.com". ojoprivado (in Spanish). Retrieved 7 September 2020.
  12. ^ "Contraplano. Directorios que dejaron de existir |". www.pantallazosnoticias.com.co (in Spanish). 2019-04-13. Retrieved 2020-09-07.
  13. ^ Tiempo, Casa Editorial El (2004-03-30). "ANIF, NO ES UN GREMIO CUALQUIERA". El Tiempo (in Spanish). Retrieved 2020-09-07.
  14. ^ "Politécnico Grancolombiano". Red Académica Valor Compartido (in Spanish). Retrieved 7 September 2020.
  15. ^ "El Espectador denuncia al Grupo Grancolombiano timeline". Timetoast. 22 March 1887. Retrieved 7 September 2020.
  16. ^ VIP, Columna (2020-02-24). "Fabricato cumple 100 años este miércoles 26 de febrero". Columna VIP (in Spanish). Retrieved 2020-09-07.
  17. ^ a b "Perfil: Juan Camilo Restrepo, la cabeza del Gobierno en los diálogos con el ELN". ¡PACIFISTA! (in Spanish). Retrieved 7 September 2020.
  18. ^ a b c País, Ediciones El (1984-01-09). "Detenidos los principales ejecutivos del Banco de Colombia" (in Spanish). El País. ISSN 1134-6582. Retrieved 2019-09-24.
  19. ^ "Autoprestamos a la carta, ¡y con las pensiones!". Tribuna Magisterial (in Spanish). Retrieved 7 September 2020.
  20. ^ a b "Las verdades que nos han 'Hurtado'". La Silla Vacía (in Spanish). Retrieved 24 September 2019.
  21. ^ "Opinión | Noticias Uno y la libertad de informar". Confidencial Colombia (in Spanish). 2019-09-04. Retrieved 2020-09-07.
  22. ^ Dinero. "LA FAMILIA MICHELSEN". LA FAMILIA MICHELSEN (in Spanish). Retrieved 7 September 2020.
  23. ^ ""No podría saludar de abrazo al expresidente Belisario, por lo que le hizo a mi abuelo"". KienyKe (in Spanish). Retrieved 7 September 2020.
  24. ^ admin. "El caso del banco de Colombia: EL GOBIERNO GOLPEA UNOS MONOPOLIOS A FAVOR DE OTROS" (in Spanish). Retrieved 7 September 2020.
  25. ^ admin. "El caso del banco de Colombia: EL GOBIERNO GOLPEA UNOS MONOPOLIOS A FAVOR DE OTROS" (in Spanish). Retrieved 24 September 2019.
  26. ^ Semana (19 June 1989). "¿QUE TAN CULPABLE ES MICHELSEN?". ¿QUE TAN CULPABLE ES MICHELSEN? (in Spanish). Retrieved 24 September 2019.
  27. ^ "Las verdades que nos han 'Hurtado'". La Silla Vacía (in Spanish). Retrieved 7 September 2020.
  28. ^ "CASOS DE LAVADO DE ACTIVO, CORRUPCIÓN Y OTROS". Asosec (in Spanish). Retrieved 7 September 2020.
  29. ^ "Huella Forense - Delitos Financieros - Auditoría forense - De gran figura pública a delincuente de cuello blanco". Huella Forense - Delitos Financieros - Auditoría forense (in Spanish). Retrieved 7 September 2020.
  30. ^ Tiempo, Casa Editorial El. "El final de una historia paso a paso". Portafolio.co (in Spanish). Retrieved 7 September 2020.
  31. ^ Dávila L. de Guevara, Carlos (2003). Empresas y empresarios en la historia de Colombia : siglos XIX - XX; una colección de estudios recientes. Grupo Ed. Norma. ISBN 958-04-7164-9. OCLC 249940866. Retrieved 7 September 2020.
  32. ^ "El poder de la banca". www.elpais.com.co. 7 May 2020. Retrieved 7 September 2020.
  33. ^ "Opinión - Ecospolíticos.com". www.ecospoliticos.com. Retrieved 7 September 2020.
  34. ^ C.I.P (9 June 2014). "Casillero de Letras - Detenido el exbanquero Jaime Michelsen". Casillero de Letras (in Spanish). Retrieved 7 September 2020.
  35. ^ Radio, Caracol (1998-07-05). "HOY A LAS 12 DEL DIA SE REALIZAN LAS EXEQUIAS DE JAIME MICHELSEN URIBE". Caracol Radio (in Spanish). Retrieved 2019-09-24.
  36. ^ ""Hijo de tigre, sale nombrado"". Patrimonio Radial del Tolima Ecos del Combeima Ibagué. 2012-09-06. Retrieved 2020-09-07.
  37. ^ "Cristina Plazas Michelsen". La Silla Vacía (in Spanish). Retrieved 7 September 2020.
  38. ^ Fucsia.co (14 July 2010). "Cristina Plazas Michelsen". www.fucsia.co (in Spanish). Retrieved 7 September 2020.
  39. ^ "Jaime Michelsen Uribe". Vladdomanía (in European Spanish). Retrieved 7 September 2020.
  40. ^ Tiempo, Casa Editorial El (1994-03-09). "EL CASO MICHELSEN". El Tiempo (in Spanish). Retrieved 2020-09-07.
  41. ^ Semana (12 March 2001). "Camila Michelsen". Camila Michelsen (in Spanish). Retrieved 7 September 2020.
  42. ^ Tiempo, Casa Editorial El (2000-02-29). "OTRA HISTORIA DE PLAGIO EN AULAS OCURRIDAS EN 1985". El Tiempo (in Spanish). Retrieved 2019-09-08.
  43. ^ a b Tiempo, Casa Editorial El (2000-02-29). "OTRA HISTORIA DE PLAGIO EN AULAS OCURRIDAS EN 1985". El Tiempo (in Spanish). Retrieved 2020-09-07.
  44. ^ "M-19 un recorderis…". 18 June 2020. Retrieved 7 September 2020.
  45. ^ ""Así secuestramos a Camila Michelsen"". ELESPECTADOR.COM (in Spanish). 2009-08-08. Retrieved 2019-09-08.

Bibliography

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  • Dávila, C. (2003). Empresas y empresarios en la historia de Colombia: siglos XIX-XX.
  • Donadio, A. ¿Por qué cayó Jaime Michelsen?. Ancora Editores. ISBN 8489209421.
  • Gómez Caballero, R. (1979). !!Jaimito Guanábana Michelsen Uribe--yo quiero la verdad!!. ISBN 948357915
  • Rincón, F. (1989). Michelsen, el poder de la desgracia. Aquí y Ahora Editores. ISBN 21410474
  • Rodríguez, H.M. (1989). El Águila. ISBN 8489209421.
  • Uribe Escobar, J. El Valor de los talentos.
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