The prosecutor alleges that Cachafeiro Richa was involved in transactions involving former National Assistance Program (PAN) Director Rafael Guardia Jaén and his three children.
The arrest of Cachafeiro Richa was ordered Tuesday. His lawyer, Guillermina McDonald, described the decision as "unfair."
Cachafeiro Richa has been linked to the companies Kalua, S.A. and Musashi Investment, S.A., through which Guardia Jaén allegedly received bribes in exchange for contracts issued by the PAN. Prosecutors froze bank accounts of these societies in November 2014. At that time they held $20 million.
Cachafeiro Richa worked in the National Mortgage Bank between 2010 and 2012.