Ex-Financial Analysis boss gets 10-year sentence

Emma Reyes,  the former director of the Financial Analysis Unit (UAF) has been sentenced to 10 years in prison for embezzlement by the first liquidator judge of Criminal Cases of the First Judicial Circuit of Panama, and two other former officials were sentenced to 84 and 30 months in prison and all were disqualified from the exercise of public functions for the same term, once the main sentence of imprisonment had been completed.

The judge sentenced the sentenced women to pay compensation for material damages and losses in favor of the victim of the crime, in this case, the UAF.

The case originated in 2014, through the presentation of an anonymous complaint that brought to the attention of the authorities irregular events that arose within the UAF, specifically in the extra cost of the contract for the remodeling of the headquarters of the financial institution that was paid with funds from the National Aid Program (PAN). After a long investigation, the authorities were able to confirm that the work had cost $200,000  and not $695,000 as claimed at the time.

The former director was also being prosecuted for mishandling funds that were used to celebrate parties and for the use of vehicles and gasoline assigned to the UAF for the transfer of family members and personal activities.

Reyes held the position of director of the Financial Analysis Unit between 2009 and 2014 during the Martinelli reign.