Further details have emerged, in the Financial Pacific insider trading scandal, in which former Panamanian President Ricardo Martinelli, and most of his cabinet, manipulated the price of stock in Petaquilla Mine, taking huge illegal profits in the process. Mayte Pellegrini, a employee in the securities firm, who has been literally incommunicado while being held in custody for several months, facing embezzlement charges which may be politically motivated, has executed a lengthy affidavit, and it contains a reference to a method heretofore not previously known in this case.
The affidavit contains extensive allegations, detailing how Martinelli and his ministers disguised their illegal transactions, which took profits based upon inside information not known to the investing public, and also manipulated the market price of the stock. According to Pellegrini, one of the reasons that they were able to accomplish this, without being discovered, is due to be their use of accounts in Danish banks to funnel the payments in and out of the Republic of Panama.
Perhaps now, EU regulators or law enforcement agencies may take an interest in the scandal; Canadian authorities are said to be presently conducting an investigation. We shall cover the involvement of several other senior Panamanian officials, who not only quashed the government's Financial Pacific investigation, but had a part in targeting individuals with first-hand knowledge of the facts, taking illegal actions to deter them from making disclosures, including murder, in future articles.