$10 million in private bank for Panama bribes

SPAIN’S leading newspaper El Pais has reported that the Odebrecht construction company opened an account in the Private Bank of Andorra (BPA) for the parents of Jimmy Papadimitriu, Panama’s one time  Minister of the  Presidency during the Ricardo Martinelli administration.

The father of the former minister accumulated $10 million dollars, in this and other financial institutions in  Andorra, says the document to which the Spanish newspaper had access.

Jimmy Papadimitriu has been identified as having received $4 million in bribes by the Odebrecht executive in  charge of bribing government officials and businessmen.

He denies having received payments from Odebrecht but acknowledges that his late father Diamantis Papadimitriu held accounts in Andorra as “a lawful commercial activity” although he does not specify how much or what bank. In addition, the former official admits that his father had business with Odebrecht.

“The Private Bank of Andorra (BPA) next to the Meinl Bank of Antigua and Barbuda were the banks that the Brazilian construction company used for the payment of illegal commissions to heads of State and officials of a dozen countries of America, including Panama, where he obtained millionaire contracts for public works “, details El Pais.