Bail revoked for high stakes brokerage boss

WEST VALDÉS  founder of the scandal-plagued  former brokerage, Financial Pacific  the center of multiple corruption   investigations  has had his $200,000 bail revoked, by  The Second High Court of Justice.

He  will remain in the El Renacer prison  cell he has occupied since January 24  when he was  when was repatriated from the Dominican Republic where he was celebrating his recent marriage. His former partner is a fugitive.

Valdes is currently under investigation along with a  by now familiar group of former Ricardo Martinelli insiders in a case involving the State savings bank  Caja de Ahorros. for  the alleged commission of a crime against public administration.

Bail had been granted by the Fourteenth Criminal on August 10 but the Anti-Corruption Prosecutor filed an appeal.

But there is sure to be more to come for Valdes as a judge acting as prosecutor in a case involving manipulation of Petaqulla Mines stock from an account called High Spirits at  Financial Pacific, was in Canada recently, seeking assistance from Canadian authorities. The account was opened by ex-president  Ricardo Martinelli according  to evidence from a former brokerage employee.