PAN SCANDAL: New money laundering arrest

A MAN LINKED to transactions involving former National Assistance Program (PAN) Director Rafael Guardia Jaén and his three children has been arrested and is in preventive detention charged with money laundering.

The fifth anti-corruption prosecutor ordered the arrest of Javier Cachafeiro Richa on Tuesday. July 29
His lawyer, Guillermina McDonald, described the decision as “unfair.”
Cachafeiro Richa has been linked to the Kalua, S.A. and Musashi Investment, S.A., through which Guardia Jaén has confessed to receiving bribes in exchange for contracts issued by the PAN.
Prosecutors froze bank accounts of the companies in November 2014. At that time they held $20 million.
He is also it listed as company secretary of Brescia Tre, SA, which registered the yacht “Boombastic” with the Panama Maritime Authority owned by Guardia is registered and which remains seized on the orders of prosecutors.

Cachafeiro Richa worked in the Banco Hipotecario Nacional (National Mortgage Bank) when Guardia was head of PAN (2010 -2012.)