Martinelli gets 128 months jail sentence for money laundering

Former President Ricardo Martinelli was sentenced to 128 months in prison for money laundering for the purchase of the newspapers Panamá América, Crítica, and Día a Día, in the “New Business” case, and an accessory penalty of $19.2 million which must be paid to the National Treasury in a period of 12 months.

Prosecutor Emeldo Márquez had requested the maximum sentence for the former president and 12 others accused of the same crime. Arguing that trial, the defendants deserved 12 years in prison, plus half the sentence for aggravating circumstances, that is, 18 years.

Márquez stressed that the defendants used a network of companies and frontmen that simulated  “fictitious addendums” to achieve their purposes of diverting money from the State.

Others sentenced were Janeth Vásquez, with 60 months in prison; Iván Arrocha, (70 months); Valentín Martínez,  (80 months) and Daniel Ochy Diez, (96 months).

The accessory penalty for the aforementioned perpetrators of money laundering is: Janeth Vásquez, disqualification from the exercise of public functions; Iván Arrocha, disqualification from the exercise of commerce; Valentín Martínez, disqualification from the exercise of public functions and Daniel Ochy Diez, disqualification from the exercise of law.

Judge Marquínez also ordered the dissolution of the companies Inmobiliaria TPA, SA, and TPHC INC., as well as the confiscation in favor of the State of the shares of Editora Panamá América, SA, the administration and its facilities (movable property and estate).

ACQUITTED
The acquitted are: Gonzalo Germán Gómez Wong, Nicolás Iván Corcione Pérez Balladares, José Carlos Corcione Pérez Balladares, Iván Rafael Clare Arias, Aaron Ramón Mizrachi Malca, Vernon Emmanuel Salazar Zurita, Salomón Jack Btesh, Jack Btesh Hazan, Leo David Cohen Mugrabi and Marcos Abraham Angel Acrich.

The investigation began on March 6, 2017, after the judicial investigation office identified that the purchase of Epasa shares was carried out through a complex scheme in which legal and natural persons intervened, who carried out maneuvers to collect, $43.9 million between 15 and December 27, 2010 in a bank account named New Business Service Limited.

The investigation by the prosecution indicated that the national circulation newspapers were purchased with public funds from state contracts that were deposited in a basket account called New Business. The ex-president —according to the investigation— telephoned the state contractors to request money for the purchase of the shares of the newspapers.

Martinelli is the author of money laundering because he transferred funds personally and through an intermediary to the New Business account, knowing that the funds corresponded to State contracts with different businessmen, the prosecutor established. In addition, frontmen were used to hide the final beneficiaries of the shares and bank revenues were split and high commissions from non-existent state contracts were charged for the purchase of the publisher.

The State has managed to recover $9.2 million in shares equivalent to 30% that have been remitted to the National Treasury.

Martinelli, 71, faces trial this year for allegedly laundering bribes paid by the Brazilian construction company Odebrecht.

In 2021, he was acquitted in a trial for alleged espionage of opponents. Despite the accusations, the former president, who leads some electoral polls, has completed the procedures to run for the May 2024 elections. Martinelli  criticized the process against him, as a “political trial.”Those convicted still have the option of appealing before the Second Court of Justice. In the event that it is also contrary, they can invoke an appeal. As long as the sentence is not final Martinelli can run for the presidency in the 2024 general elections.