Juan Machete is a Colombiano "Espanto" (Creep), that is a damned soul or creature that wanders at night to kill a certain kind of people. The legend tells that Juan Machete was a poor worker at a Colombian barn, and he wanted money and power, so he made a pact with the devil if he promises him wealth in exchange for his soul, so the devil gave him a bull-horse-like creature and luck with money and promised he will return someday to claim his soul.
One night 6 months later, the devil came on a black horse and Juan did not wanted to give him his soul so, the next day Juan Machete buried his money and gold that the devil gave him and later, the bull-horse came crazy and brought Juan to the devil who took his soul and left him as a "Espanto". He appears at night to lone wanderers obsessed for money looking for him, and if they can support three hits from his machete on the naked body, they will find the buried fortune Juan Machete buried, but no one could ever withstand his three hits.