The Government of Panama was aware of the details of Stanford International bank's complex Ponzi scheme, but chose to bury that information, allowing the scheme to continue to take in money from unsuspecting investors for years after it received the information. A two-hundred page dossier, prepared by an intelligence analyst, was delivered to the Superintendent of Banking years before Stanford's Ponzi scheme imploded.
Furthermore, assuming that the Trustee of Stanford International Bank, and the Securities & Exchange commission, knew about this document, why wasn't this information released to the investing public, and the banking industry, so that they could adjust their assessment of Country Risk for Panama accordingly ? If Panama's Superintendent of Banking, the principal financial regulator in that nation, is not to be trusted, then should not risk levels on Panama be increased to dizzying heights ?
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