Ponzi king loses another court battle

Panama’s Third Criminal Court has denied a request from  the Company Assets Corporation for the return of $600,000, proceeds from the auction  of a yacht owned by a ponzi scam artist.

In 2009 the yacht, owned by the Colombian David Murcia Guzmán, owner of DMG which scammed money from hundreds of Panamanians. Murcia was known as the ponzi king.

The court, in a resolution of August 30, denied the request,  finding that it  had ordered the Drug Prosecutor to  impound all property of Murcia for the crime illegal money collection, issued on September 13, 2010.

Murcia has been sentenced to 32 years in jail by a Columbian Court, and an additional nine by a US court. A fog still surrounds events in the 2008 presidential election campaign when  never proven reports circulated that he had fed millions of dollars to the PRD opponent of Ricard Martinelli. Later it was revealed that, a partner of Murcia had passed money to the Martinelli campaign.

A case alleging disinformation is wending its way through the court system.