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Mega real estate scam in La Plata: exceeds US$20 million and the criminal case is progressing - Ambito Financiero
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Megaestafa inmobiliaria en La Plata: supera los u$s20 millones y avanza la causa penal
La causa contra la desarrolladora ABES suma un nuevo capítulo por presunta falsificación de pruebas. Entre los damnificados figura el DT Pedro Troglio.
www.ambito.com
April 17, 2026
By José Luis
The case against the developer ABES has taken a new turn with allegations of evidence falsification. Among those affected is coach Pedro Troglio.
One of the buildings linked to the case of the alleged mega real estate fraud in La Plata, with construction halted and millions in losses for investors (Photo Courtesy: Infoplaense)
The legal case concerning the alleged mega real estate fraud in La Plata has taken a new turn, raising tensions throughout the proceedings. The investigation, led by Prosecutor Gonzalo Petit Bosnic of Criminal Court No. 3 , now includes a complaint alleging the possible use of a falsified document as exculpatory evidence by Diego Lacki , one of the main defendants.
The case, which already includes multiple complaints of fraud and fraudulent administration , analyzes the operation of the developer ABES and a series of real estate trusts that ended with paralyzed works, investors without answers and losses of millions that exceed US$20 million.
The stalled construction projects affect at least a dozen developments in various parts of La Plata. These include Vita (11th Street between 59th and 60th), Dezzeo (55th Street between 4th and 5th), Lucero (59th Street between 10th and 11th), Elipsis (54th Street between 4th and 5th), Thymos (16th Street between 54th and 55th), Cromo (2nd Street between 56th and 57th), Cross (58th Street between 11th and 12th), and Lumiere (55th Street between 1st and 2nd).
The new focus is on a notarized document dated December 30, 2024. This document bears the alleged signature of Lucrecia Villar Loos , the firm's former majority shareholder, in her capacity as trustee. Lacki's defense strategy aimed to demonstrate that the responsibility for the administration lay with her, not with her role as trustee.
However, the immigration documents presented in the case indicate that Villar Loos was outside the country on that date, with records placing her in Brazil. This contradiction opens the door to a hypothesis of document forgery with additional criminal implications.
Miguel Molina , the lawyer for Villar Loos and several victims, stated: “The main defense argument for disclaiming responsibility could be based on an ideologically false document.” The lawyer explained that, given this situation, a handwriting analysis and the seizure of the minutes book were requested to determine the document's authenticity.
According to Molina, the case has added a new legal front that goes beyond the original fraud. “Not only has the attempt to disclaim responsibility failed, but an investigation has also been opened for procedural fraud and falsification of a private document,” he stated.
The complaint includes documentary evidence and official records that seek to prove the material impossibility of the signature on the date indicated. Furthermore, Villar Loos never acknowledged the document nor had any prior knowledge of its existence.
The Induplack case serves as a recent precedent: more than 400 victims and losses exceeding US$50 million in a trust scheme involving projects that were never completed. The investigation in La Plata shows similarities, with suspicions of embezzlement, stalled projects, and an operation that has also come under scrutiny by the criminal justice system.
A case that is growing with new complaints
The case remains in the investigation stage and includes submissions from investors who claim to have been harmed by a scheme that promised real estate developments with guaranteed income and defined deadlines that were never met.The projects were marketed as cost-plus trusts, with contributions that in many cases reached the total value of the units. Over time, construction stalled, leaving structures unfinished and without clear explanations from those responsible.
One of the construction projects halted on 55th Street between 4th and 5th, in La Plata (Photo: Google Street View)
Meanwhile, the complainants are raising concerns about the whereabouts of the invested funds and the likelihood of their recovery. The investigation seeks to determine whether there was a systematic scheme for raising money and diverting resources between different development projects.
Molina explained that the case involves two main elements. On the one hand, fraud, stemming from the sale of units in a context of non-compliance. On the other, fraudulent administration, linked to the use of a "single treasury" that allegedly misappropriated the funds.
The lawyer explained: “Funds from various trusts were used for other projects without the investors’ authorization.” He also maintained that there was a lack of clear accountability in the fiduciary role.
Another point of investigation is the money trail. According to testimonies included in the case file, some of the funds were allegedly transferred to personal accounts abroad, which reinforces the hypothesis of irregular transactions.
Troglio and the impact on the victims
Among those affected is Pedro Troglio , the current manager of the Banfield football team, who testified in the case and provided details about how the scheme operated. In his testimony, he pointed to Diego Lacki and Macarena Núñez as two of the visible figures in the operation.Troglio explained that the proposal included investment in real estate developments with the promise of a monthly income from the start of the investment. In his case, he detected irregularities when construction stopped progressing and the promised payments ceased.
Pedro Troglio, one of the victims in the case, denounced irregularities in the developments and pointed the finger at those responsible for the handling of the funds.
The coach described the operation as a "scam" and maintained that the funds were not applied to the intended projects. He also emphasized the impact on other investors who had invested their life savings.
In line with other testimonies, he indicated that the company reported financial problems towards the end of 2025 and suspended the rent without any concrete reactivation deadlines.
Judicial reversal and rejection by the victims
Another recent development in the case was the reversal of the attempted transfer of the company to a new development group (the Yacoub company was not even accepted by the affected parties). The Civil and Commercial Court No. 6 had initially authorized the transaction with the aim of restarting construction, but later reversed its decision.Last week, the case took a turn when the head of the Civil and Commercial Court No. 6, Juan José De Oliveira, nullified the transfer of ABES to the developer Yacoub, which had acquired the company despite its legal situation.
The judge had authorized the change of management with the aim of restarting the stalled construction projects, but later reversed his decision, considering that his initial ruling was based on a misinterpretation. At first, it was assumed that the new management would assume all liabilities, but this obligation was not clearly established.
The case is being handled by Prosecutor's Office No. 3 in La Plata and involves more than six criminal complaints for fraud and fraudulent administration. Among the victims are professionals, business owners, and entities such as the Social Security Fund for Kinesiologists of the Province of Buenos Aires .
The affected parties also rejected this alternative. Troglio explained that the proposal included completion values considered insufficient and conditions that were unacceptable to investors.
He noted that most of those affected did not agree with the new firm's involvement and that the focus remains on the criminal proceedings. "They offered us negligible settlement amounts. That's why we didn't accept," he stated.
The coach and former footballer emphasized that the strategy aims to advance the legal case, not seek partial solutions through commercial means. He also indicated that the legal action is directed against those who received the funds.
An open case with multiple fronts
The case is being handled in the criminal courts and is still in the evidence-gathering stage. The file includes complaints from individual investors, professionals, and organizations, in a scenario that grows more complex as the filings progress.
Render of one of the buildings that the developer ABES never started construction on
The central question is whether there was an organized scheme to raise funds for fraudulent purposes or whether these were isolated breaches of contract.
The inclusion of the complaint for alleged document forgery introduces an additional element that could modify the strategy of the parties and the scope of the accusations.
In this context, the victims maintain the expectation that the investigation will move forward and allow the clarification of the destination of the money and the individual responsibilities within the operation.
Molina concluded that the case presents sufficient elements to support the existence of a structured scheme, with misappropriation of funds and economic harm to investors, and stated that the objective is for the criminal case to proceed to its ultimate conclusion.
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