Locks changed at scandal ridden brokerage

THE LOCKS  at Financial Pacific(FP)  have been changed and the Superintendency of Securities (SMV), has taken control of the firm which has been mired in scandal and mystery since October 2012.At that time $12 million was reported missing and an employee, Mayte Pellegrini was charged and still sits in jail awaiting trial

The SMV ordered the reorganization of the brokerage on Wednesday July 2..
During the scandal two criminal complaints were filed, one against the brokerage firm for possible money laundering, fraud and forgery of documents, the other against a Pellegrini, who remains detained.
Pellegrini, during an investigation process, says irregularities in the management of the brokerage included the existence of a secret account called High Spirit, which was opened to manipulate stock market shares. Reports LaPrensa
Pellegrini also said that the directors of FP, Iván Clare and West Valdés, had publicly said that the secret account ” is Mr. [ former president ] Ricardo Martinelli.”

Pellegrini later claimed her statements had been doctored by the then Attorney General, now President of the Supreme Court.

Since then the auditor who uncovered the problems has disappeared, the former head of the Superintendency has resigned because of threats, and a defense witness for Pellegrini was stabbed on his way to the FP office .
The latest move by the Superintendency comes after FP executives declined to give details of accounting records, preventing the market regulator  from getting an accurate  picture of the financial situation of the company.

The brokerage was not diligent in providing sufficient data to clients on funds belonging to their investment accounts and has complied with the delivery of financial statements with the rigor required by securities law says a July 2 SMV resolution in which the intervention of the brokerage firm was ordered.

The SMV notified the measure to the directors of the company on Wednesday, afternoon. The decision means taking control of the brokerage. Hours later, and in the night, even when the locks had been changed at the Financial Pacific offices, the presence of two people who allegedly attempted to enter the force was reported.

A complaint was filed with the National Police. Apparently workers from Pacific Financial were found in a car, with tech gadgets to try to get information from digital records of the company reports La Prensa.Locks changed at scandal ridden brokerage
THE LOCKS at Financial Pacific(FP) have been changed and the Superintendency of Securities (SMV), has taken control of the firm which has been mired in scandal and mystery since October 2012.
At that time $12 million was reported missing and an employee, Mayte Pellegrini was charged and still sits in jail awaiting trial
The SMV ordered the reorganization of the brokerage .
During the scandal two criminal complaints were filed, one against the brokerage firm for possible money laundering, fraud and forgery of documents, the other against a Pellegrini, who remains detained.
Pellegrini, during an investigation process, says irregularities in the management of the brokerage included the existence of a secret account called High Spirit, which was opened to manipulate stock market shares. Reports LaPrensa
Pellegrini also said that the directors of FP, Iván Clare and West Valdés, had publicly said that the secret account ” is Mr. [ former president ] Ricardo Martinelli.”
Pellegrini later claimed her statements had been doctored by the then Attorney General, now President of the Supreme Court.
Since then the auditor who uncovered the problems has disappeared, the former head of the Superintendency has resigned because of threats, and a defense witness for Pellegrini was stabbed on his way to the FP office .
The latest move by the Superintendency comes after FP executives declined to give details of accounting records, preventing the market regulator from getting an accurate picture of the financial situation of the company.
The brokerage was not diligent in providing sufficient data to clients on funds belonging to their investment accounts and has complied with the delivery of financial statements with the rigor required by securities law says a July 2 SMV resolution in which the intervention of the brokerage firm was ordered.
The SMV notified the measure to the directors of the company on Wednesday, afternoon. The decision means taking control of the brokerage. Hours later, and in the night, even when the locks had been changed at the Financial Pacific offices, the presence of two people who allegedly attempted to enter the force was reported.
A complaint was filed with the National Police. Apparently workers from Pacific Financial were found in a car, with tech gadgets to try to get information from digital records of the company reports La Prensa.