Lack of action on missing auditor in Panama brokerage scandal condemned

 Panama Stock Market Director Roberto Brenes has questioned the performance of the Public Ministry (MP) in investigations related to the scandal at brokerage firm Financial Pacific (FP).

Brenes said Monday, January 14 that it is "a case of incompetence or a cover-up" that the MP has not acted on the disappearance of Vernon Ramos, the deputy director of Financial Analysis of the Audit Directorate of the Superintendency of Securities, almost two months ago.

Brenes said the MP has not said publicly if Ramos "ran away or is missing or dead."
He added that Ramos was one of the most important figures in the FP case, since it was his reports that certified the problems within the firm.
Former Minister of Economy and Finance Fernando Aramburu Porras said that it is necessary to shed light on the scandal.
"We should not play with the goose laying the golden eggs," the minister said. "This country is too valuable for three or four men to destroy. We must not allow it."
Rolando Rodrí¬guez, counsel for Financial Pacific, said that the company is still responsible to its investors. He said a portion of the funds allegedly embezzled from the firm have been recovered.
The lawyer said that the firm, which has been closely linked to President Ricardo Martinelli, is not afraid to be investigated, but that it must be done fairly.
Ramos’ role as watchdog began months ago, even before the SMV ordered the reorganization of FPon October 16, 2012 . On Thursday, November 15, , Ramos attended a meeting in the afternoon with staff departments of Control and Supervision, inspection officers who had been in Financial Pacific, the General Secretariat of the SMV and outside counsel. All analyzed the new landscape of the alleged "financial fraud" and wereconducting new research to FP.
A source who attended the meeting told La Prensa that it was to undertake a new audit of FP, due to the decision of the Supreme Court to nullify the reorganization of the brokerage firm and accept a collateral brought in by the managers of FP.
Ramos, the source said, was the person who would "endorse" the audit reports. Then, having more items with the new FP information collection, the prosecution must present them to the authorities and support the conclusions reached by the SMV on FP irregular operations.
But none of this happened. Ramos disappeared the next day, Friday, November 16, between 1:30 pm to 2:00 pm, from the grounds of his home in Arriajan.