Supreme Court asks for lifting of Martinelli immunity

PANAMA’S Supreme Court Tuesday  has sent a request to the Tribunal Electoral (TE) to suspend the immunity of former President Ricardo Martinelli as part its investigation into irregularities in accounts managed by the Financial Pacific brokerage.

The information was confirmed to La Prensa by both the court and the TE.

The investigation is based on a complaint filed by the Superintendency of Securities in June that alleged that Martinelli used accounts, among them High Spirit Overseas, to buy and sell shares of Petaquilla Minerals using confidential information. The authorities have determined that Martinelli was a shareholder through his sons, his brother-in-law Aaron Mizrachi and friends.

The case has also spurred a money laundering investigation by public prosecutors.

Martinelli is also being investigated for irregularities in the National Assistance Program (PAN) and illegal surveillance by the National Security Council, among half a dozen other cases.