Heraldo de Madrid - Panama ex-president Martinelli goes on trial for money laundering

Martinelli is one of 15 people accused of having bought, in 2010, a majority share in the Editora Panama America publishing house using state funds.

Martinelli, who was president from 2009-14, was not present at the opening of the trial having presented a medical disability certificate due to an operation on his shoulder.

According to prosecutors, the defendants used a series of front companies to siphon off almost $44 million from state infrastructure contracts during Martinelli's presidency.

Martinelli then allegedly used part of this money to buy a controlling stake in the media company, whose newspapers adopted an editorial line that promoted the ex-president's interests.

Supermarket magnate Martinelli denies having received "any ill-gotten gains" and claims to be a victim of political persecution to prevent him from standing in the May 2024 presidential elections.

The 71-year-old is also accused in a separate case of laundering money from Brazilian construction giant Odebrecht.

In 2016, Odebrecht pled guilty in a Brooklyn court to paying more than $788 million in bribes to government officials and political parties, mainly in Latin America, to win infrastructure contracts.

The Brazilian company admitted paying bribes worth $59 million in Panama in exchange for contracts to build public works.

Martinelli has been investigated for multiple corruption scandals since leaving office. In 2021, he was acquitted for a second time on charges of espionage and embezzlement of public funds.

I.Soto--HdM