Álex Saab Keeps Barranquilla Mansion in Colombia

The Superior Court of Medellín said prosecutors failed to build “a sufficiently robust group of indicia” showing illegality in the funding and channeling of money into Promotora Dubera S.A.S., the company linked to the Barranquilla property. The court said the affected party had “reasonably” met the burden of explaining the wealth with a coherent, documented account consistent with the business and exchange-rate backdrop in which the operations took place.

EL TIEMPO reported that the case centers on a mansion in Barranquilla’s Riomar district built from merged lots and containing a pool, tennis court, spa, five bathrooms, about a dozen bedrooms and gardens across 3,800 square meters. A judge had already ruled in January that the evidence did not prove the assets reflected unjustified enrichment at Promotora Dubera, and the Medellín court has now confirmed that view.

For investors and counterparties, the ruling is less about one house than about enforceability. Asset-forfeiture cases can reshape ownership of high-value real estate and corporate assets, but only if prosecutors can tie the money trail to criminal proceeds with enough documentary and circumstantial support. Failed forfeiture efforts can leave questioned assets in legal limbo while reducing the odds that authorities will gain control of property currently held by Colombia’s asset manager, the SAE.

The outcome also highlights the split between Colombia and the United States in Saab’s legal exposure. He remains jailed in the US on money-laundering charges, meaning the Colombian ruling does not end his broader legal risk, but it does show that victories in one jurisdiction do not automatically translate into asset seizures elsewhere.

The next market-moving question is whether Colombian prosecutors seek fresh evidence or new cases against other properties. Saab still has seven assets in Colombia under SAE control, and any new forfeiture push will test how aggressively authorities can pursue alleged corruption-linked wealth without running into the same evidentiary bar.