Diamond tipped traffic surveillance deal reversed

A sweetheart deal that gave a company monitoring speeding motorists in Panama 65% of the fines, has been reversed.

The company, whose director has close business links to President Ricardo Martinelli, will now pocket only 35% and the transport authority (ATT T) will get 65%. But the company still has the monoploy and will install 20 cameras.

Traffic Safety Panama SA had secured an unprecedented business deal in Panama for speeding offenses, detected through surveillance cameras. When details of the deal were published there was an outcry over what were considered exorbitant awards and he ATTT ordered the company to suspend its functions in the area of Costa del Este, After 15 days in operation , 2000 fines at the rate of $50 each, were registered, representing a turnover of $100,000.
The only camera that the company had installed Traffic Safety was cut June 22, the day that La Prensa revealed t details of the contract.
Ricardo Correa Chanis, Traffic Safety representative signed initial the contract with the State..
Correa's relationship with the company and family ties with Martinelli was another element that drew attention when the scope of the contract with Traffic Safety was revealed/
On July 21, 2009, Correa was appointed by the president, Martinelli, as a leading member of the board of the Savings Bank.
He also chairs the Editorial Epasa Group, which publishes the progovernment publicstions Panama America, Critica, Dia a Dia and PM, a business in which the president has admitted having participation.
Even with the changes to the contract, Traffic Safety maintains its monopoly in operating traffic surveillance cameras,