Colombia’s President Gustavo Petro Faces Scrutiny Over Financial Activities

Colombia’s Financial Intelligence and Analysis Authority (UIAF) issued a report this week revealing that President Gustavo Petro has made expenditures at strip clubs and high-end luxury retailers. This information has been highlighted by various Colombian news sources.

Petro responded to accusations from former President Donald Trump, claiming that his financial records show inconsistencies with being labeled a drug trafficker.

According to El Colombiano, the UIAF, which oversees anti-money laundering efforts, disclosed Petro’s personal transactions following a request from the president himself. In a lengthy social media post, Petro criticized Trump’s comments, asserting the need for transparency from the former president regarding his own financial dealings.

In October, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Petro, accusing him of activities that could significantly contribute to the global drug trade. Petro’s family members, including his wife and son, were also impacted.

Just days before these sanctions were placed, Trump labeled Petro an “illegal drug leader,” while Petro struck back, calling Trump “rude and ignorant.”

On Tuesday, UIAF presented the financial transactions, clarifying that while transactions were documented, it couldn’t definitively link them to any criminal activity. The authority insisted that further investigation would be necessary to ascertain any illicit connections.

Caracol Radio reported that Petro maintains twelve bank accounts, primarily using two—one with Scotiabank Colpatria and another with BBVA. The 30-page UIAF report covers banking activities from 2023 to June 2025, excluding the year he took office. It detailed a mix of transactions, from salary deposits and mortgage payments to foreign currency purchases and withdrawals.

Notably, the report highlighted Petro’s spending at high-end outlets in the U.S. and Europe, such as Saks Fifth Avenue, Nordstrom, and Gucci, among others. One of the more provocative items mentioned was his expenditure at the Menage strip club in Lisbon.

Reports indicate that Petro visited this club during a trip to Portugal in May 2023, just after a formal visit to Spain. Former Foreign Minister Alvaro Leyva, who traveled with him, previously suggested that Petro had issues with drug addiction.

Petro raised concerns about proving his financial integrity, asking rhetorical questions about the legitimacy of his expenses compared to his income. He challenged whether it seemed plausible for a drug lord to maintain such financial responsibility.

“Is it reasonable to think that my accounts reflect hard-earned income without evidence of corruption or illegal activity?” he queried on social media.