Ex-bank boss faces probe over $7 million loan to aborted project

THE FORMER president of the board of  the Caja de Ahorros (CA) during the government of Ricardo Martinelli (2009-2014) faced an anti- corruption prosecutor on Wednesday October 12.

Riccardo Francolini Arosemena, was driven to the headquarters of the First anti-prosecutor from his residence in Costa del Este.

He was accompanied by his attorney, Carlos Carrillo.

While he was being questioned investigators searched his home, in the Balmoral complex for evidence linked to the case.

The investigation is focused on a $7 million loan from CA that was granted to the consortium HPC-Contratas-P&V for work on the convention center in Amador, a project that was plagued with irregularities.

Eight other people are  charged in the case.