Costa del Este Panama has 3 Luxury Homes Seized Along with $100,000

An alleged money laundering network was dismantled through Operation Genesis.  The operation, coordinated by the Public Prosecutor’s Office and the National Police, resulted in the arrest of three people linked to the case and the seizure of more than $100,000 in cash.  In addition, 11 apartments, 3 residences and 2 vehicles were seized, with an approximate value of 2.8 million dollars, while more than 500 thousand dollars was retained in bank accounts, in an unprecedented blow against corruption and money laundering.  During the 26 raids, authorities also collected financial documents, electronic equipment, and high-value items, which will serve as evidence in the investigation.  A chain of beauty salons is being investigated, which according to the investigation, allegedly served as a front for illegal operations.

Money laundering charges were filed against a network that used beauty salons and money laundered $7 million.  According to the prosecution, the funds laundered through the companies were used to purchase 11 apartments located in luxury residential areas.  A judge charged three individuals with money laundering and ordered the provisional detention of a network that used the beauty salon chains Salón Boutique La Parce and Leblanc Salon Boutique and a variety of shell companies, managing more than $7.1 million since 2018.