On the Move From Andorra to Playacar, ‘El Panameño’ Wanted for Extradition by Panama Since 2022.

The man arrested last week in Playa del Carmen, Mexico, accused of using the financial system of several jurisdictions to launder money from alleged illicit activities, has been wanted for extradition by Panama since October 28, 2022.  Sergio Rafael De Marco Cruz, nicknamed “El Panameño” (although he was born in Guerrero, Mexico), is under investigation by the Specialized Prosecutor’s Office against Organized Crime for alleged money laundering and crimes against public trust. As part of this process, an order was issued on October 28, 2019, to seize assets and funds in his name totaling $18 million. 

However, despite several attempts, De Marco has never been charged in Panama, as his whereabouts—until now—were unknown. His lawyer claimed that his client was being prevented from returning to Panama, but never provided evidence to prove that the National Migration Service had actually denied him entry into the country.  The case began with a “spontaneous” communication from the Principality of Andorra, which informed the Panamanian authorities of information “that could be relevant” in relation to “The Panamanian”. 

On October 28, 2022, the same day that a judge granted the extradition request for De Marco, another judge, in a separate hearing, suspended the precautionary measure of asset seizure imposed since 2019. The assets remained seized because the prosecution took the case to the Superior Court of Appeals, which on November 11, 2022, overturned the judge’s decision and upheld the asset seizure in the amount of $18 million.  This decision was subsequently confirmed by the Plenary of the Supreme Court of Justice, which on March 23, 2023 did not admit an appeal filed by De Marco’s defense. 

It is not known what assets were seized from De Marcos, but news media found that in 2018 he imported a used Rolls Royce Ghost vehicle, whose declared CIF value is $174,264.85.  His name is also linked to a private foundation called RDM Holding, registered in 2017. Its president is De Marco. It has been suspended since 2021 due to the resignation of its resident agent, the firm Williams & Williams.  Although he was born in Mexico, De Marco is nicknamed “The Panamanian” precisely because of his reputation for using the country’s financial and corporate system to commit his misdeeds.

De Marco was arrested at the exclusive Playacar residential and tourist complex, Phase 1 in the Mexican resort town of Playa del Carmen. According to the Mexican Attorney General’s Office and the Mexican Navy, he was the subject of an Interpol alert and wanted by five countries.