|Alberto Diamond: on the take.|
The public servant most responsible for Panama's probable future placement upon the FATF blacklist of uncooperative jurisdictions, is its former Superintendent of Banking, Alberto Diamond R. His abysmal job performance, where there were no money laundering investigations or arrests during his tenure, was only eclipsed by his obscene amount of corruption. He was accepting huge bribes, from the very banks that he was supposed to be supervising, to close his eyes to the massive amount of money laundering, and of providing financial services to terrorist organizations.
If you were in business in Panama, you stood an excellent chance that he, through his associates, would ask you for a $50,000 bribe; should you not pay it, your local bank accounts would be closed, and letters about your alleged criminal activities circulated throughout Panama's business and professional community. He took inappropriate and improper legal action against private parties who would not give accede to his bribe demands. he used his office for personal gain, and to punish anyone who would not cave in to his greedy demands for payment. This so-called public servant needs to be incarcerated for the rest of his natural life, due to the damage he has inflicted upon Panama.
This man is evil, plain and simple; he allowed a huge expansion in the amount of drug profits being laundered through cooperating Panamanian banks, which resulted in Panama's placement on the FATF Grey List, and its probable descent into the depths of the Black List. That is sinful, and justice demands that he pay the price for actions; he has, literally, ruined Panama's international image regarding AML & CFT. Most observers view the country's compliance effectiveness as a bad joke.
Why isn't this threat to public safety under arrest ? He wisely departed Panama, when the corruption-riddled Martinelli government was replaced by the current, reformist administration. Let us hope that he is apprehended, and extradited to Panama, where he can be charged with Abuse of Power, Money Laundering, and a boatload of other crimes, and that his millions of dollars in illicit wealth can be seized, and forfeited, in favor of the treasury of the Republic of Panama.
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