Cash laundering trial ends for former Panamanian President Ricardo Martinelli

The trial of former Panamanian President Ricardo Martinelli and 14 others for alleged cash laundering associated to their buy of a publishing firm concluded Friday, beginning the clock on the 30 days the decide has to subject a verdict

FILE – Former Panamanian President Ricardo Martinelli walks in Tocumen Worldwide Airport, adopted by journalists as all of them anticipate Martinelli’s sons Luis Enrique Martinelli and Ricardo Martinelli Linares after finishing jail sentences in america for laundering hundreds of thousands of {dollars} in bribes from Brazilian development large Odebrecht, in Panama Metropolis, Jan. 25, 2023. Former Panamanian President Ricardo Martinelli, who aspires to return to energy in 2024 elections, has been on trial since Might 23, 2023 for alleged cash laundering within the buy of a publishing home that publishes nationwide newspapers. (AP Photograph/Arnulfo Franco, File)

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PANAMA CITY — The trial of former Panamanian President Ricardo Martinelli and 14 others for alleged cash laundering associated to their buy of a publishing firm concluded on Friday, beginning the clock on the 30 days the decide has to subject a verdict.

Martinelli, a 71-year-old grocery store magnate who hopes to hunt re-election subsequent 12 months, had again surgical procedure the week earlier than the trial began and was not current.

The case, recognized domestically as “New Enterprise,” dates again to 2017 and considerations the 2010 buy of a publishing firm that owns nationwide newspapers.

Prosecutors keep that via a fancy collection of international cash transfers totaling $43 million, firms that had received profitable authorities contracts throughout Martinelli’s presidency, funneled cash to a entrance firm that was then used to buy the writer. The entrance firm accumulating the cash was referred to as “New Enterprise.”

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In closing statements, prosecutor Emeldo Márquez requested the utmost sentence for Martinelli, which might be 12 years, however could possibly be prolonged to 18 years with aggravating components.



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