146 face money laundering charges in Panama
WHILE PANAMA struggles to refurbish its image in the wake of the Mossack Fonseca and Waked family scandals, both containing allegations of money laundering activities,the Public Ministry is pursuing money laundering charges against a total of 146 people.
If all are convicted El Renacer ” white collar”prison will need an extensive addition to house them and the other long line of former high political rollers facing potential long term sentences.
Of that total, 131 of the cases are from 2015 and 15 are from this year The 2016 cases alone total over $125 million, and sources report that there is much more to come.
The defendants, if convicted, are facing between five and 12 years behind bars.
Among the active cases are those related to the failed Tonosi irrigation project. Where 33 people Have been charged many of them from the Ricardo Martinelli Inner Circle, including former vice president Felipe “Pipo” Virzi.
Another 13 people are charged in the case involving former Supreme Court Chief Justice Alejandro Moncada Luna.
The defendants include former Virzi and Ricardo Calvo.
Another investigation focuses on Cobranzas del Istmo, which received a lucrative contract for the collection of delinquent taxes. There are three people charged in that case.
Recently, the ministry opened an investigation into the Waked Group based on an investigation carried out by U.S. officials. That investigation linked 68 companies and nine individuals to money laundering allegations on behalf of drug cartels.
Attorney General Kenia Porcell said investigations into this type of crime are often complex because the money is often deposited in financial systems outside the country, and the cooperation of other jurisdictions is needed.
U.N. official Amado Philip de Andrés agreed with that assessment, saying money laundering is a crime that is “extremely sophisticated and almost always includes more than four jurisdictions.”
