New agreement will speed Andorra linked corruption probes

Investigations of high profile Panamabribery and money laundering cases linked to banks in Andorra will be made smoother and faster by a collaboration agreement signed between the two countries eliminating cumbersome bureaucratic, delays.

The judicial collaboration protocol to speed up procedures in gaining information was signed on Friday, June  15. by Panama’s Attorney General Kenia Porcell and her Andorra, counterpart Alfons Alberca

It will help especially in cases of international corruption. like the dynamics of the Banca Privada d’Andorra (BPA) as operator of the laundering of the bribes paid by Odebrecht to Panamanian politicians. Names like former Minister of the Presidency  JimmyyDemetrius “Jimmy” Papadimitriu and the sons of Ricardo Martinelli have figured in earlier probes.

“With the signing of this protocol, the criminal investigations that are substantiated both in Andorra and in Panama and the development of cooperation is strengthened and favored between the public ministries of both countries, for the prosecution of crimes, in general, and of transnational organized crime, in particular, “reads a press release by the judicial institution of Andorra.

Until now, if Panama wanted to request documentation and information from Andorra on assets or bank funds in that country, it had to be managed through diplomatic channels or through the Ministry of Foreign Affairs; a procedure that delayed the identification of banking information.

Direct talks
Now if judicial investigators require information they, may do so directly, without the intermediation of other institutions.

The agreement also provides for study visits, as well as urgent processing of the demands of legal cooperation.

“Thanks to the agreement reached between the public ministries of the Principality of Andorra and the Nation of the Republic of Panama, both institutions strengthen their ties in the fight against crime and, especially, in financial matters and corruption” said the Andorra Prosecutor’s Office

The preliminary investigation of the Pernambuco case, as it is known in Andorra to the open investigation after analysis of bank accounts and suspicious transactions carried out through BPA and linked to the Odebrecht corruption scheme, began in April 2017.

The agreement reached between Panama and Andorra will give a boost to the research on the participation of former employees and former BPA senior managers in the bribery scheme from the Brazilian construction company, but will also take advantage of other cases that have relationship with financial crimes in other banks in Andorra.

“Odebrecht is a reality, but there are also other open cases, where there is already assistance that Andorra has requested and on which Panama is working or in which, it has already delivered the information, “Porcell explained in statements to Radio Television of Andorra