Kenneth Rijock

Kenneth Rijock

Saturday, January 14, 2017

SWITZERLAND FREEZES $22m OF PANAMANIANS IN ODEBRECHT SCANDAL


Swiss Authorities have advised that they have frozen $22m, in accounts owned or controlled by four Panamanian nationals in the bribe scandal involving Constructora Norberto Odebrecht SA. Though those individuals have not been named, they are believed to include former Panamanian President Ricardo Martinelli Linares, and his two sons, Ricardo Martinelli Linares, and Luis Enrique Martinelli Linares, whom the Swiss are seeking information upon, with Panama. It is not known whether Martinelli's daughter, Carolina Martinelli Linares, is the fourth account holder.

Longtime readers of this blog will recall that we detailed a special trip that Martinelli took, to Lugano, in the Italian-speaking region of Switzerland, where he allegedly has extensive banking relationships, towards the end of his tenancy as president of Panama.

The Attorney General of Panama has announced that Odebrecht has agreed to pay $59m, to settle corruption charges brought by the government, against it. This is the amount of bribes reportedly paid to Panamanians, to obtain lucrative construction contracts, granted by the Government of Panama. 

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