Long arm of the FBI nears Martinelli and Financial Pacific

CORRUPTION in FIFA, football’s powerful governing body ran rampant for years, and while many around the world had deep suspicions, and there was the occasional “resignation” little changed until the FBI swooped.

Anyone familiar with Panama’s political scene will recognize the scenario. Endemic corruption has permeated many levels of government since the return of democracy after the US enforced deposal of military dictator Manuel Noriega.
For many in successive governments “democracy” meant access to the State cookie jar, funded by tax payers, while at the other end of the scale many struggled to survive.
As the country prospered, the sugary diet of those close to the enlarged jar grew in tandem The “have” population expanded, while the “have nots” shrank, as many reached the ranks of “barely getting by”.
But in 2009, behind a slogan attacking those who arrived on foot with empty pockets, and left in luxury 4x4s with well padded bank balances, came promises of change with a party created by a man so rich, he didn’t need to steal. On his accession to power, Ricardo Martinelli boasted on CNN that the success of his government was because it was led by a cabinet of “businessmen.”

Ladies of the night sometimes refer to themselves as businesswomen. Many of the bussinessmen cabinet,and their associates are now behind bars and likely heading for trial for a pillaging of the national treasury unmatched in the country’s history, The $1 coin, introduced in the early days of “Democratic CHANGE” and quickly nicknamed the “Martinelli is now named by many as “Ladrone” (thief.)

But so far the former leader behind a shield of high tax-bracket lawyers has managed to appear invulnerable to any attempts to call him to face justice for his alleged involvement in massive financial frauds.
But things may be about to change as the Superintendent of Securities (SMV) has forwarded to the Supreme Court a report warning of “irregularities” in the Financial Pacific (FP),brokerage and identified “Ricardo Martinelli Berrocal as “owner and beneficiary” according to information released by TVN News.
According to TVN News the SMV has detailed tranfers by Martinelli to law in a lawsuit related to the Securities and Exchange Commission (SEC) according to an investigation conducted by the FBI.
The law firm The law regulating the stock market in Panama states that it is forbidden to receive and send money to not identified third parties.
The note adds that Kyleen Cane, of Cane Clark LLP, is being investigated for her links to a pattern of fraud and manipulation of the US stock market.
Martinelli has been identified as a member of FP, the brokerage which is currently in liquidation, and appears linked to the High Spirit account that was used to invest in the purchase of shares of Petaquilla Minerals and Inmet Mining, and in which irregular movements were detected.
As some former directors of FIFA will attest, The FBI has a long arm,