Martinelli FP file stuck in Supreme Court

THE DECISION on whether  or not to open an investigation  into  alleged irregularities in accounts  of ex-President Ricardo Martinelli at the Financial Pacific (FP) brokerage is in the hands of Judge Hernán De Leon, and the file has been stuck in the Supreme Court since July 1.

The Superintendent of Securities (SMV) sent a note to the presiding judge of the Supreme Court, Jose Ayu Prado, and the head of the Public Ministry (MP), Kenya Porcell, on June 29 asking for an investigation of  Martinelli for allegedly using insider information to purchase shares of Petaquilla Minerals through FP, says La Prensa.

Judiciary sources said the case was assigned on July 1 to De Leon, appointed  by Martinelli in 2012, who has not yet decided whether to admit the complaint.

Admission is a sole decision of the rapporteur, prior to deciding whether or not the court begins the investigation against the former president

La Prensa failed to get answers on the future of the complaint  from the PR department of of the MP, and  called the cell of the Secretary General of the Public Ministry, Rolando Rodriguez Cedeno, but got no response.

According to information initially released by TVN News and based on documents to which La Prensa had access,  Martinelli bought and sold mining shares days before approving mining by  Petaquilla Gold (subsidiary of Petaquilla Minerals),

According to the SMV the purchase of shares by  Martinelli was through three accounts at FP High Spirit Overseas, Distribuidora Comar, SA, and a third registered under his own name.

Other players in the scheme, according to the SMV,  were Aaron Mizrachi, Navin Bhakta, Pezet Diego Arango, Juan Luis Correa, David Diaz Garces, and Marcelino Velasquez.

Ricardo Martinelli Linares and Luis Enrique: the sons of the former president were also mentioned reports La Prensa.