Embezzlement Suspect Granted $5 Million Bail

Daniel Ochy Diez director of Transcaribe Trading (TCT), facing trial for alleged embezzlement of the Ministry of Public Works (MOP), related to the design and construction contract for the rehabilitation and widening of the Autopista Arraiján-La Chorrera has had a court ruling denying him bail, overturned.

Judge Wilfredo Sáenz Fernández, of the Second Superior Court, revoked a decision of the 15th Criminal Court denying bail. Among the reasons given for the reversal is that “Ochy Diez has no criminal record; he has no intention of causing physical harm to other people or destroying, polluting or disappearing.”

The Court warned that the accused cannot leave the country without authorization.

The Public Ministry has investigated since August 2015, a supposed cost overrun for more than $60 million dollars in the highway expansion project. The project was granted to TCT during the administration of  Ricardo Martinelli at a cost of $152.6 million The estimated time for its realization it was two and a half years, but it took more than four years.

Ochy is involved in another criminal investigation related to the purchase of the  Panama America publishing company.