The killing of prominent emerald businessman Jesús Hernando Sánchez in Bogotá has reignited fears of a renewed conflict in Colombia’s lucrative but historically violent emerald industry. Sánchez, considered an heir to the legacy of the late “Emerald Tsar” Víctor Carranza, was shot dead on Sunday in a method that echoes the assassination of another major player, Juan Sebastián Aguilar, known as “Pedro Pechuga,” who was murdered just eight months earlier.
Both men were targeted by snipers in nearly identical circumstances—struck by a single bullet while attending family gatherings in the same upscale residential area in northeast Bogotá. In both cases, the shot was fired from the nearby hills, prompting suspicions of a professional hit. Bogotá’s mayor, Carlos Fernando Galán, has acknowledged the escalating violence tied to the emerald sector, especially in connection with the neighboring Boyacá department, where most of the country’s emeralds are mined.
Police commander Giovanni Cristancho stated that investigators believe the shooter in Sánchez’s case was positioned in the forest bordering the Bosques del Marqués complex. Aerial patrols are underway in an effort to track down any evidence of the sniper’s location.
Sánchez had narrowly survived two previous assassination attempts. In 2012, he was shot 11 times inside a luxury boutique in Bogotá’s Andino shopping mall but lived, albeit with severe injuries, including the loss of an eye and kidney. His associate Aguilar also survived a failed attempt on his life in late 2023.
Authorities are examining the possible involvement of the Gulf Clan, one of Colombia’s most powerful criminal organizations. Wiretapped conversations from 2021 suggest that Dairo Antonio Úsuga, alias “Otoniel”—the former Gulf Clan leader now in custody—had plotted to eliminate Sánchez and another emerald magnate, Julio Lozano Pirateque, who resides in Dubai. President Gustavo Petro has publicly accused Lozano Pirateque of orchestrating attacks against rivals to consolidate control over emerald operations.
Sánchez and Aguilar were both protégés of Víctor Carranza and held senior roles in Esmeraldas Santa Rosa, a company with significant mining concessions in Maripí, Boyacá. The company has long been a central player in Colombia’s emerald industry, which has often been marred by violent turf wars.
Following Aguilar’s assassination last year, the National Federation of Emeralds called for enhanced protection measures for industry stakeholders. The sector has been plagued by power struggles since the mid-20th century, often involving links between business figures, criminal groups, and even paramilitary factions.
A 2013 report by Colombia’s Comptroller General described the emerald trade as one of the clearest examples of the state’s failure to control non-renewable resources. It noted that mine operations in Boyacá had often fallen under the control of armed actors, with violence and organized crime flourishing in mining towns.
The murder of Sánchez has attracted international attention. According to reports from El Tiempo, the U.S. Drug Enforcement Administration (DEA) has requested details from Colombian investigators, as part of a wider probe into suspected money laundering through emerald transactions—a tactic long associated with illicit networks in the region.
Petrit Baquero, a historian and author of The New Green War, argues that the resurgence of violence is driven more by personal vendettas and power realignments than by emeralds alone. In an interview last year, Baquero noted that individuals previously extradited for drug offenses have returned, aiming to reclaim control over lucrative ventures they once managed.
While the formal mining rights in Boyacá are largely split between foreign investors and Esmeraldas Santa Rosa, Baquero said there had been ongoing disputes involving Sánchez and the Triana clan—led by Horacio Triana, a longtime rival of Carranza who is currently serving a sentence in the U.S. for drug trafficking.
The cycle of violence surrounding Colombia’s emerald trade appears far from over, and the killing of Hernando Sánchez has highlighted the enduring influence of deep-rooted criminal structures within the industry. As investigations continue, authorities are bracing for what could be another volatile chapter in the long and bloody history of the country’s “green war.”
