Ricardo Martinelli in Panama City on June 4th. Arnulfo Franco (AP)
Efforts by former Panamanian President Ricardo Martinelli to return to the Caribbean country’s presidency in 2024 faltered Tuesday. The Panamanian judiciary found him guilty of the crime of money laundering and sentenced him to 10 years and six months in prison and to pay a fine of more than $19 million. The 71-year-old former president, who has expressed an interest in standing in next year’s parliamentary elections, is also under investigation for corruption offenses in connection with the Brazilian construction company Odebrecht. Martinelli’s defense has said it will appeal the verdict. “We will exhaust all measures,” said Carlos Carrillo, the former president’s attorney.
The investigation into the so-called New Business case began in 2017, three years after Martinelli left the presidency. The Panamanian judiciary found irregularities in the purchase of shares in Epasa Publishing, which published three national media outlets, and assured that more than $40 million in public funds was used for the transaction. “The scheme of how the crime of money laundering took place and the responsibility of each of the people who facilitated the illegal transactions to purchase Epasa, the ultimate beneficiary of which was the former President of the Republic,” the judiciary’s verdict reads.
Martinilli has been persecuted by his country’s judiciary since leaving government. In May 2017, at the request of the Panamanian judiciary, the International Police (Interpol) issued an arrest warrant against the politician for a case of espionage because, according to the Panamanian press, the then President had set up a sophisticated network for “wiring”. This enabled him to spy on political rivals, journalists, businessmen and officials. The ex-president then settled in Miami to avoid prosecution by his country’s judiciary, which investigated them in more than 10 court cases over alleged corruption during his tenure. Martinelli, who ruled Panama from 2009 to 2014, was arrested in July 2017 while leaving his home in the residential town of Coral Gables, Florida, and later extradited to his country.
Criminal Liquidator Baloísa Marquínez decided to sentence Martinelli to 128 months in prison and pay a fine of $19,221,600.48 million after establishing his guilt in the money laundering case involving public funds. The Panamanian judiciary has found the former president to be responsible “as the author” of the crime against the economy in the form of money laundering. The judgment orders the dissolution of two companies involved in the purchase of the Epasa publishing house, as well as the seizure of that company’s shares and its assets, which must be handed over to the state in order to recover part of the public money used for the acquisition. The same. The judge has also convicted four other people of money laundering.
After the verdict was published, the magnate’s defense announced that it would appeal the verdict. Carlos Carrillo, the former president’s lawyer, has questioned the trial, confirming to the local press that the trial involved “repeated violations of the rights of Ricardo Martinelli,” who was also arrested earlier this year for his alleged involvement in a new process must stand in the money laundering in the Odebrecht case.
Judge Marquínez’s verdict on Tuesday represents a serious blow to Martinelli’s aspirations to run in the 2024 general election. The former president had launched his candidacy under the Realizando Metas formation, but now has to await the Supreme Court’s decision on whether to uphold the sentence against you. In that case, Martinelli will be barred from running because Article 180 of the Panamanian Constitution bans people convicted of corruption cases from voting.
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