$200,000 bail in loan scam endorsed
THE BAIL RELEASE of two members of the consortium HPCContratasP & V consortium was endorsed by the Second High Court of Justice on Friday May 26.
The company obtained a loan from the Caja de Ahorros (CA) for $9 million for the alleged construction of a convention center in Amador.
Jairzon Lemar Hurtado and Tobías Garrido Nicolau posted the bonds of $200,000, and have already been released.
The decision dated May 17, 2017 was signed by magistrates María de Lourdes Estrada and Adolfo Mejía.
On April 24, the 14th Criminal Court gave Hurtado a bond of $90,000 and Garrido one of $50,000.
After an appeal filed by prosecutor Adecio Mojica, the amounts were raised by the Second Superior Court to $200,000.
Judges Estrada and Mejía also granted bail of the same amount to Manuel Morales Diez “in the interest of preserving the equanimity of the parties.”
Morales Diez who has never personally appeared before the court was the person who allegedly instructed A on how to divert the $9 million loan to companies that were not directly related to the convention center project.
In this case, Riccardo Francolini and Jayson Pastor, former CA chairman and general manager, remain in detention, as well as West Valdes, founder of the scandal ridden brokerage house Financial Pacific.
The case, peppered with members of ex-president Ricardo Martinelli’s inner circle, also involves former Vice President Felipe Virzi and a number of other businessmen and former government officials.
