Home raided as 5 subjects questioned

EQUIPMENT seized during a Wednesday raid on the home of the chairman of the Board of Directors of Caja de Ahorros during the government of Ricardo Martinelli is being examined for clues to  a questionable loan.  first anti-corruption prosecutor Tania Sterling ordered the inspection of equipment found in a raid carried out Wednesday at the residence of Riccardo Francolini, currently director of Nex TV owned by Martinelli.

Sterling  said the items seized in the raid on the Costa Del Este residence, may be related to the loan made by the bank to the consortium HPC, which received a contract to construct the Amador Convention Center.

The prosecutor said that HPC made a number of questionable payments to companies unrelated to the project, including $7 million to Summer Venture and almost $1 million to Langton International Holding.

Francolini, Bank Deputy Manager Rodrigo Arosemena and three others have been detained in the case.