Financial Pacific skeleton re-emerging to face Martinelli

THE FINANCIAL PACIFIC (FP) brokerage skeleton that has been skulking   in the back of   the Ricardo Martinelli  closet, is ready to re-emerge  with the reactivation of investigations into in his alleged financial crimes for alleged anomalies in accounts managed by the brokerage .

Judiciary sources reported that Judge Hernán De Leon, prosecutor in the  case, was notified of the resolution adopted by the Supreme Court  plenary on January 25,  giving  the green light to the investigation.

The judges signed the resolution after the Electoral Tribunal lifted Martinelli’s  electoral jurisdiction  bolt hole on December 7.

Defense team lawyer  Sidney Sitton, said they will wait for the De Leon prosecutor to make the first before acting,  reports La Prensa.

Martinelli is accused of allegedly acquiring shares of Minera Petaquilla, using FP accounts and using privileged and confidential information while he held the presidency of the Republic.

The case was supported by the full Court in September 2015. The judgment argued that using his position as president, Martinelli used insider information to purchase shares of Petaquilla Mines  at low prices and then sell them in the market for double and triple the price.

The Attorney General’s Office has three Martinelli files for the possible commission of crimes of money laundering, insider trading and corruption of public officials.

The processes are based on requirements of the Superintendency of Securities, which links partners and relatives of Martinelli.