Panama's former Minister of Commerce & Industry, Ricardo Quijano, who has previously been named as the central player in the Financial Pacific (FP) insider trading scandal, and who has been missing in Panama since he left office, has been linked to the laundering of Venezuelan "flight capital", through a Panamanian money service business in which his immediate family reportedly owns 50%.
Financiero Finangente SA, managed by Quijano's son-in-law, Pedro Rojas, has reportedly sought out the assistance of other Panamanian MSBs, to accept large quantities of US Dollar shipments, known to have originated in Venezuela. He is rumored to have transported cash shipments, from Venezuela to Panama, on board Quijano's private plane.
The MSB, which is said to have a branch office in Caracas, has reportedly received preferential treatment from the Government of Panama, due to Quijano's reputed ownership status. Finangente received a $20m loan from the Government of Panama, reportedly without the required approval from the country's legislative body. It has close relationships with two Panamanian financial institutions which maintained multiple accounts for those Panamanian PEPs under investigation for trading on insider information in the FP scandal. Investigations into misconduct at these banks, in connection with their role in the FP matter, were blocked by officials of the Martinelli Cabinet, believed to be because several government ministers, and Martinelli himself, had personally profited from the illicit scheme.
Quijano is not only wanted by Panamanian authorities for questioning, he is allegedly also being sought by former President Martinelli himself. Does Quijano still control a portion of the Financial Pacific windfall ?
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