Disgraced former Panamanian Superintendent of Banking, Alberto Diamond R., who once bragged that seventeen billion dollars in Venezuelan money had been deposited in Panamanian banks, was ordered to ignore Source of Funds and Beneficial Ownership issues, on all that "flight capital" and not to audit the country's banks for money laundering issues. As the result, zero compliance on narcotics profits, bribe & kickback money, and funds stolen from agencies of the Government of Venezuela, flowed directly into Panamanian banks. Who ordered this ? Former President Ricardo Martinelli.
The reason: Alberto Diamond, whose work experience prior to his appointment was solely as an accountant at KPMG, and without any banking background whatsoever, was married to a close relative of Martinelli. He religiously followed Martinelli's orders: No audits of Panamanian banks, no money laundering investigations, and especially, no investigation of the Financial Pacific scandal, wherein Martinelli and his ministers reaped millions of dollars in illegal insider trading profits. Diamond also targeted Panamanian businesses that Martinelli wanted to hurt, or take over, and he killed the government investigation into the $3bn David Murcia Ponzi scheme.
For those readers who always wanted to know why nobody was ever charged with money laundering the billions going through Panama's banks, during the Martinelli administration, blame Sr. Diamond and Martinelli equally, please.
White collar crime is everywhere. What is the cost to society?
ReplyDeleteMr. Kenneth Rijock:
ReplyDeleteI hope you have proof of what you are stating here. It is unlawful to engage in defamation of another’s character and reputation. Defamation consists of
(1) a statement that tends to injure reputation;
(2) communicated to another; and
(3) that the speaker knew or should have known was false.
I encourage you to CEASE and DESIST to spread defamatory statements against Mr. Diamond and delete your posting. Mr. Diamond could seek monetary damages and equitable relief for your defamation against his character and reputation if your statements are proven false. Your liability and exposure under such legal action could be considerable.