Kenneth Rijock

Kenneth Rijock

Thursday, February 12, 2015

UNLICENSED PANAMANIAN SECURITIES FIRM LINKED TO MARTINELLI AND MURCIA STILL OPERATING

NOT a shareholder
Global Valores Inversionistas SA, a Panama City broker-dealer whose clients included former President Ricardo Martinelli, and Colombian Ponzi schemer David Eduardo Helmut Murcia Guzmán, and which operated openly, without a mandatory securities license, is strangely still in business, long after Martinelli's term as president has come to an end. Why has the new Varela reform government not closed it down ?

Many Panamanians believed that this Global Valores was actually owned by Martinelli, who has several companies whose names include the term "Global,"including Global Valores SA, but, in truth and in fact, it is owned by a close associate of the former president. Valores' owner actually encouraged clients to think it was a property of then-President Martinelli. The logo design was a copy of that of Global Bank, where one of Martinelli's sons was a director; we call this a deceptively similar name. It is intended to deceive investors and the public. In fact, the owner boldly told Panamanians that he & Martinelli were shareholders in this company, which was an outright lie.

NOT the Global Valores we are covering here. Deceptively similar names.
 While Martinelli ruled Panama, this Global Valores could operate with impunity; for example, its owner was a regular visitor at HSBC Bank (Panama) SA Premier  (Bella Vista), where eyewitnesses saw him traveling up to the second floor, to see officer Frida Falk, where he would deposit, in cash, $100,00-150,00, several times a week, all done without any bank reporting these unusual deposits to regulators. It is believed that this cash came from David Murcia. One witness reported that it appeared the cash was damp from a probable maritime trip; Murcia was known to smuggle his cash into Panama covertly, using fast speedboats, under cover of darkness.

 The owner of Global Valores Inversionistas  is reportedly under criminal investigation in the United States.


Ms. Falk
Now that Global Valores' preferred status, through Martinelli, no longer exists, we ask the question, when will the new government shut it down ? There have been persistent rumors to the effect that Global is not meeting its current obligations to its investor clients. Clearly, a termination of this unlicensed securities business is called for, and a criminal investigation into alleged money laundering activities needs to take place.


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