Guilty Stockmarket exec fingers, Martinelli, Shamah in FP scandal

THE FORMER director of supervision of the of Stock Market Superintendence (SMV) who pleaded guilty on Tuesday August 25  to supplying confidential information to the Financial Pacific (FP) brokerage said he acted under instructions of ex-president of, Ricardo Martinelli and ex-Tourism Authority, manager, Salomon Shamah.

Ignacio “Nacho” Fabrega also said that Juan Manuel Martans, superintendent of the Stock Market at the time, was aware of the situation.

 Martans replied that Fabrega accusations are a “revenge” for having denounced him before the Public Ministry. He told La Prensa that he is waiting to be called by the Third Anti-Corruption Prosecutor to give his defense.

Fabrega made his statements at the First Criminal Court where the hearings of the irregularities in Financial Pacific (currently in liquidation) were held 

Fabrega told the court that he met with Martinelli and Shamah in the Presidency of the Republic.

“They told him to keep them informed and avoid new processes involving the firm,” said Jair Urriola, a lawyer who represented the superintendency at the hearing where Fabrega pleaded guilty to the crime of corruption of  a civil servant.

According to Urriola,  Fabrega said he did not know that his actions were illegal. He also said that “it was understood that Martinelli and Shamah  were shareholders of FP.”

Fabrega’s appearance came as a surprise during the hearing to discuss Financial Pacific, currently in liquidation. He was assisted by his lawyers Mónica González and Hilda Bonilla.At the  hearing, the former director who was assisted by the lawyers Monica Gonzalez and Hilda Bonilla- pleaded guilty to the crime of corruption of officials. He faces a sentence of four to eight years in prison, under the Penal Code. As a result sumitting  to an abbreviated trial, the judge has the power to reduce his sentence, But Third Anti-corruption prosecutor, Zuleyka Moore, asked  apply him the maximum penalty of eight years in prison. On previous occasions, the prosecutor referred to the defendant as a “dangerous person” who never showed interest in cooperating with the investigation. In fact, he was cited numerous times before being arrested on February 26 in a parking lot in La Chorrera.

Fabrega  became a fugitive on  March 27, after the Second Superior Court judge overturned a March 3  decision by Judge Rolando Quesada Vallespi which changed  preventive detention to  country arrest  leave the country and the duty to report every 15 days.

The  preventive detention order was issued by the Third Anti-Corruption Prosecutor who investigated him for allegedly supplying confidential information to Financial Pacific. The complaint was presented by the SMV.

Fabrega turned  himself in a month and a half after the prosecution announced that it would seek his arrest through Interpol, as they were unable to locate him.