PAN financed trader with no relavent experience

PANAMA’S National Assistance Program PAN financed a trader with no experience in the dehydrated food business ,so that he could buy and import Brazilian dehydrated food for distribution to schools with limited resources.

The beneficiary of the arrangement was Rubén De Ycaza through Lerkshore International Limited
The arrangement came to light during the investigation of the Second Anticorruption Prosecutor, in which it is mentioned that Lerkshore International, represented by De Ycaza- might have incurred “overruns and misappropriation of public funds.” Reports La Prensa
De Ycaza confessed to prosecutors that the goods “came from the two contracts with the State [$60 million], during the administration of Ricardo Martinelli.”
Prosecutors said Lerkshore International “acquired creditworthiness with credit cards from the National Bank of Panama (BNP), with funds from the PAN .
The goods were received by the PAN after the BNP “released endorsements that gave bargaining power as part of the advances received by the company”.
A report by the Comptroller, shows that De Ycaza received advances of $18.5 million, through transfers between June and December 2010. One of these transfers was international -for $15.5 million dollars- and endorsed by excontralora Gioconda de Bianchini.
Lerkshore International, which supplied dehydrated to public schools between 2010 and 2011- “did not exist in Panama, and had no experience in the manufacture or importation of dehydrated foods food, says the investigation by prosecutors.