WHO FRAMED VLADIMIR KOKOREV FOR MONEY LAUNDERING ?

Vladimir Kokorev, with one of his Panama attorneys 

It would appear that Valdimir Kokorev, the Russian businessman who operated in Africa, including Equatorial Guinea, was artfully framed, and the money laundering allegations, which the Spanish press has accused him of, have no basis in fact. We have begun an investigation of the curious circumstances surrounding the matter, and the hidden agenda of the parties who are orchestrating the vendetta against Kokorev.

Here is what we know so far:

(1) Vladimir Kokorev, and the rest of the Kokorev family, are not wanted on money laundering charges, but on the equivalent of material witness warrants, for questioning. The Government of Spain, in a heavy-handed manner,  has sought their extradition, instead of contacting them, and arranging for their testimony, as their location was well known. Causing their arrest, in a highly public manner, obviously had political implications, which we intend to explore. Remember, this matter involves real estate purchases that occurred several years ago; why are they coming up now ?

(2) The back story is far more sinister than any money laundering case. According to reliable sources, certain powerful financial interests in Spain, who had previously enjoyed taking lucrative profits from exploiting Equatorial Guinea's natural resources, want the country's current leader, President Teodoro Obiang, out of power, and replaced by a president who will cooperate with those interests, and restart the flow of cash to them.

(3) Allegations of massive corruption of the Obiang family, placed in major media outlets by the Spanish special interests, has dominated news about Equatorial Guinea recently. This appear to be the method through which those interests believe they can remove Obiang, through the airing of multiple scandals.

(4) Money laundering charges against Kokorev, claiming that he laundered money for Obiang, by purchasing real estate in Spain, provides fuel for the press, and casts Obiang in a negative light. The acquisition of Spanish realty, according to the Kokorev family, was for their own use, and absolutely not bought for the first family of Equatorial Guinea.

Ismael Gerli

(5) The only witness against Vladimir Kokorev is Ismael Gerli, his former Panama attorney, who actually traveled to court in the Canary Islands, to testify against his clients, though the laws regarding admissibility of such testimony causes great concern, because of the existence of the attorney-client privilege. Kokorev denies that Gerli has any evidence or information implicating him for money laundering, and asserts that Gerli sought to extort money from him, has over billed Kokorev for years, for legal services, and stole a condominium apartment from Kokorev, by fraudulently transferring ownership to bearer shares of a corporation that owned the property.

 Gerli was formerly associated with the American fraudster, Gary James Lundgren*, who illegally acquired much of his wealth through the same type of illegal share transfers that Gerli reportedly engaged in. Attorney Gerli's lack of credibility is certainly a major issue. He is presently being sued by Kokorev in a court in the Republic of Panama.

Gary Lundgren

(6) Spanish newspaper articles that created the story about Vladimir Kokorev's money laundering, were later held, by a court in Moscow, to have committed libel, and the offending articles ordered removed. The journalist who authored the story was reportedly fired, and the Spanish Government at the time officially stated that it had not pending investigation against Kokorev. Why now, we ask ?

We are just now scratching the surface of this matter; rest assured that the identities of the Spanish financial interests will appear here in subsequent articles, as well as further details of their campaign against Vladimir Kokorev, and President Teodoro Obiang.
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*  Panama expat, Gary James Lundgren has been labeled, in the press, the "Bill Cosby of Panama, " due to his sexual predator history, in the United States, as well as in Panama. 

CAN PANAMA FIX ITS LAWYER PROBLEM ?

If you have spent any time in the legal system in the Republic of Panama, you are painfully aware of the issues. The large law firms, and the successful small firms, with their US-educated lawyers, are the place to go, if you are in need of legal advice, or a litigator. Why ? Because they generally run a tight shop, and you may pay hefty fees, but you do get effective representation.

However, if you go to the third- and fourth-tier lawyers, you are taking an immense risk, because you may not only fail t get your money's worth, you may fall prey to lawyers whose goal is to cheat their foreign clients, and insure that any claims that you may have become a casualty of corruption.

Here's the problem in a nutshell:

(1) Panama subscribes to the diploma privilege, meaning that graduation from law school entitled the individual to admission to the bar; there's no bar examination. The Supreme Court of Justice admits all graduates.

(2) The disciplinary system is non-existent. Attorneys who serve prison terms can actually pick up the pieces, and return to the practice of law when released ! This has to change.

(3) Some individuals, due to Panama's rampant corruption can actually buy a law degree, without attending a single day in law school. No wonder many of them are clueless, when it comes to the rules of procedure and evidence.

(4) Overcharging foreign nationals, in billing, is the rule rather than the exception, with this type of lawyer.

(5) Taking money from opposing lawyers, to delay cases indefinitely, fail to attend hearings or make required filings of pleadings, happens more often than you would expect. Corruption among those lawyers is one of the largest single impediments to obtaining justice in Panama; I know this from personal experience.

Please do not get me wrong; there are plenty of ethical lawyers in Panama, as well as good prosecutors and judges, it is just that the bad apples are so numerous, that attorneys in Panama have a poor reputation, in general, due to the bad actors.

Can the Government of Panama (1) require bar exams, (2) make attendance mandatory to obtain a law degree, (3) beef up the attorney disciplinary process, and (4) crack down on corruption ? We hope so, for otherwise, Panama will continue to remain high, when it comes to Country Risk assessments.   

WHEN WILL PANAMA PUBLISH PHOTOS OF ITS 50+ KNOWN MONEY LAUNDERERS ?

This is a wanted poster, published by the Government of Nigeria, of a large number of Boko Haram terrorists' the images were taken from screenshots of BH actions. I am wondering: since the Government of the Republic of Panama knows quite well who the Panamanian and Venezuelan money launderers are, who ply their dark trade in Panama City, perhaps it can post a set of photos, for the benefit of the banking industry in North America, which does not want any of them coming in to its banks, and would sincerely like to know who the players are.

The problem of widespread money laundering, through Panama's "see-no-evil" financial institutions just will not go away, as the government chooses to support the financial services industry, and to simply no charge laundrymen with their crimes. It knows exactly who they are; I challenge it to post their photographs.

FIFTH CIRCUIT AFFIRMS PONZI SCHEMER ALLEN STANFORD'S CONVICTION

The convicted Ponzi schemer, Sir Allen Stanford, will continue to serve his 110-year sentence, for the Fifth Circuit Court of Appeals has affirmed his conviction. Court observers who follow cases involving Ponzi schemers were not surprised, most of his appellate issues appeared to have any merit at law, and at times, they seemed to be more like angry rhetoric than well-reasoned argument.

Stanford was convicted on multiple courts, including wire fraud, mail fraud, money laundering conspiracy, and obstruction of an investigation. The Court, in essence, held, in a 19-page opinion:

(1) The trial court had jurisdiction.
(2) The indictment was legally sufficient.
(3) It was not reversible error to deny the defendant a continuance.
(4) There was no valid double jeopardy issue.
(5) The trial court did not err in denying his motion to suppress evidence, on 4th Amendment  grounds.
(6  The Court's response to a jury note was harmless error.
(7) The application of sentencing enhancements was supported by the evidence.
(8) The trial judge was not partial to the government at the trial.
(9)  The Cumulative Error Doctrine does not apply.
(10) There were no Brady issues, the government did not withhold exculpatory information.

Readers who wish to review the complete text of the opinion may access it on the Fifth Circuit website, as it has been posted there. It is the first decision on the list:
http://www.ca5.uscourts.gov/electronic-case-filing/case-information/current-opinions

YET ANOTHER DISHONEST PANAMANIAN LAWYER CONNECTS WITH ALCIDES BARTOLO PENA

Corrupt Panama attorney José Luis Garcia Sánchez

This is José Luis Garcia Sánchez, a lawyer working in the Republic of Panama; he demonstrates why attorneys there, unless they work at a law firm with sound ethical principles, are not trusted, and with good reason. You may want to pass this article on to anyone considering either purchasing residential real estate in Panama for investment, or retiring there.

 Attorney Garcia served two years in prison, for stealing six figures from an American client from Texas. After his release, he went right back to work, for Panama has no functioning lawyer disciplinary system; it requires only graduation from a recognized law school to practice law, there is no bar exam, and no ethics section to pass, before one can be admitted.

After leaving prison, Attorney Garcia went right back to the practice of law, including his old tricks, taking fees, but not doing the work he agreed to perform for his clients. Inasmuch as the court system is inefficient, and totally corrupt, meaning that justice can be delayed, or denied, for a price. Attorneys who cross the line are never punished.

His biggest mistake: While representing a client who had multiple claims against the American fraudster we have chosen to call "the Bill Cosby of Panama," due to his actions, the sexual predator, Gary James Lundgren. Sr. Garcia sold his client out to Lundgren's lawyer, Alcides Bartolo Peña Araya, who has paid him handsomely for his betrayal.

Garcia deliberately failed to make required filings, missed court dates, dragged his feet whenever possible, and in general insured that justice would never be served for his client, as his acceptance of regular bribes from Peña insured that the case would go nowhere. His deception has now been discovered, and his "services" terminated. He has violated the most sacred tenet of the law: to zealously represent your client, and he belongs back in prison.

Unfortunately, the bar of Panama is full of such corrupt types; all hustling for money, at the expense of their trusting clients. Unless you retain a top-flight lawyer, in a reputable firm with ethics that they expect their partners to adhere to, you may end up with someone like José Luis Garcia Sánchez, who will collude with someone like Alcides Bartolo Peña Araya, and you will lose your case. Watch yourself in Panama, for it is full of snakes with law licenses.

OFFICERS FAILED TO LIQUIDATE DUNDEE BANK, STILL OPERATING IT UNDERGROUND

Investigations into the Cayman Gang of Four trading scandal have uncovered the fact that, notwithstanding an order from Canadian regulators to close and liquidate Dundee Merchant Bank, which is also known as Dundee Bank, senior officers at the bank deliberately and intentionally failed to close down operations, and are currently running it covertly, in violation of Cayman Islands law.

You may recall that we have previously disclosed that the bank has only a "B" class license, which mandated that it could operate only if it was the subsidiary of an operating international bank. When Dundee Bank of Canada was sold, Dundee Merchant Bank was no longer qualified to operate in Grand Cayman, and Derek Buntain, its president, and Sharon Lexa Lamb, its senior vice president, were tasked, by Dundee Corporation, the holding company in Canada, to undertake the liquidation, return funds to customers, close the bank's physical operations down.

Derek Buntain, far right.

Reportedly, all the necessary documentation was executed by Dundee Corporation, and delivered to Buntain and Lamb, but curiously, they failed to commence the liquidation.  What role their use of the bank's accounts at other financial institutions has played in the massive $450m trading scam, involving Bateman Financial and B & C Capital, Ltd., is not known, but it is alleged that the Gang of Four were able to facilitate Ryan Bateman's rogue trading operation, through those accounts.

Rumors floating around Grand Cayman claim that Mr. Buntain, who is currently in hiding at his son's house in Prince Edward Island, in Canada, and Miss Lamb, who works at B & C Capital, have planned to take the millions that they have stolen from investors, and permanently relocate, without ever completing the bank liquidation. Such an act could result in the filing, in Canada, of both civil & criminal charges against Dundee Corporation, and its senior management, who, according to William Tynkaluk, have had no dealings with Dundee Bank, believing it already liquidated, and without assets or liabilities.

Will Derek Buntain & Sharon Lexa Lamb, the Gang of Four's own Bonnie & Clyde, take the money and run, or will law enforcement head them off at the pass ? Stay tuned.

INVESTMENT ADVISER TO ROTHSTEIN VICTIMS SENTENCED TO 2.5 YEARS IN FEDERAL PRISON

Michael Szafranski, the investment adviser who was supposed to perform independent verification upon Scott Rothstein's bogus sexual harassment and employee discrimination cases, but who took illegal fees from Rothstein, and failed to conduct the most elementary due diligence, to protect his clients, was sentenced this week to 2 1/2 years in Federal Prison. Szafranski, who entered a guilty plea to a single court, violated his duty to his clients, when he knew that some sort of fraud was involved, and facilitated investments, though he may not have been aware of the exact details of the billion dollar Ponzi scheme.

It is believed that Szafranski's willingness to testify against a former senior officer at TD Bank led to that individual's change of plea, and for that reason, his sentence was relatively short, due to his substantial assistance. Some of the victims may consider his sentence to be inadequate, but he did disgorge the profits he made, for his participation in the fraud.   

FEDERAL JUDGE DENIES VIKTOR BOUT A NEW TRIAL

The trial judge in the Federal criminal case against arms trafficker Viktor Bout has entered an order denying his motion for a new trial, based upon newly-discovered evidence. the Court, in a 26 page ruling, held that the information Bout's attorneys had presented in their motion did not meet the well-established requirements for a new trial, as a matter of law; The movant did not meet the high standard the law imposes.  

The judge, who also denied his request for an evidentiary hearing, responded in detail to every item of evidence that Bout's counsel had presented, in support of the motion. Many Russian observers have accused the United States of entrapping Bout into engaging in criminal conduct with undercover US Government agents, and public opinion in Russia believes that his case was purely political.

Further complicating the issues is that fact that Bout, as well as his associate, convicted sanctions violator, Richard Chichakli, had a working relationship with American intelligence services, though the details remain classified.

Bout's conviction was previously affirmed by the Second Circuit Court of Appeals, and prior counsel failed to seek Certiorari from the US Supreme Court. Was the motion for a new trial actually a ploy, by current counsel, to get the case back before the appeals court ? We cannot say, but we will advise if and when an appeal of this ruling is filed.

PANAMA'S DOWNTOWN BUILDING BOOM WAS FUELED BY NARCO-PROFITS

Construction in Panama

Visitors to Panama City in recent years have been astounded by the frantic pace of growth of new condominiums and office buildings; the only place where I have seen more cranes and derricks, in one place, was Dubai at the height of its construction boom, a couple of years ago. It is the story behind all those gleaming new high-rise buildings that is of relevant interest to compliance officers.

As we all know, North American consumers continue to throw their disposable cash at street-level drug dealers, which results in a multi-billion dollar industry for Colombian traffickers. Though money launderers working for the cartels can easily deposit their clients' narco-profits in many of Panama's banks, particularly those owned or controlled by the country's largest organized crime syndicate, a good laundryman wants his customers' funds cleaned, not just deposited in dodgy banks.

Therefore, their attention was drawn to the rapidly expanding Panama City construction boom, and the dozen or so builders who were actively operating there. Construction costs in Panama ( i.e. labor, materials, building permits, necessary bribes and kickbacks, and even the purchase of vacant land) are traditionally paid in cash, and receipts are rarely, if ever, tendered. The laundrymen had found their niche.

The method was quite simple:

(1) The laundrymen delivered sacks of US Dollars, generally many millions, to the builders.
(2) The builders used the cash to pay for the land, to pay their employees, on payday, twice a month, and to pay for materials, as well as necessary "grease" payments, to facilitate licenses and permits.
(3) After the building was completed, the builder would convey an agreed number of office and residential condominium units to Panama corporations (yes, with bearer shares, of course).
(4) Representatives of the traffickers would later sell the units to legitimate purchasers, especially North American and European expats moving to Panama, the sales proceeds, which came from the buyers, having effectively cleaned the traffickers' drug profits.

US law enforcement agencies are well aware of the identities of those builders; in fact, there is, reportedly, a comprehensive list of those builders, and their companies, maintained by the US Drug Enforcement Administration (DEA). Unfortunately, prior governments in the Republic of Panama have declined to be of assistance in American narcotics investigations of these builders, and even interfered with efforts to acquire sufficient evidence to bring indictments in the USA. For that reason, the United States seems to have ruefully settled for merely monitoring the individuals involved; whether it will ever step up, considering the probable diplomatic consequences, is doubtful.

Gary Lundgren

A large number of money launderers, Colombian and Venezuelan, have been engaged in this dark activity. Many of them are well known, including one we recently profiled, the American expat/money launderer, Gary Lundgren, whose huge real estate empire was accumulated, in large part, by his active participation in the scheme. The former President of Panama, Ricardo Martinelli, who laundered drug profits being smuggled in by the pyramid scheme "superstar," David Murcia Guzmán, also played a major role.

It all boils down to one fact: there's nobody indicting Panama's approximately fifty known, active money launderers, who have been engaged in the cash-for-condo scheme I have detailed here, and unless they are arrested, they will continue to fund major construction projects in Panama. Perhaps law enforcement agencies from the United States can start by charging Martinelli and Lundgren.

Ricardo Martinelli

  

DISTRICT COURT SETS HEARING FOR VIKTOR BOUT REGARDING ADMISSION OF RELEASE OF UN SANCTIONS

Viktor Bout's Russian-American attorney, Alexey Tarasov, has filed a letter with the the sentencing judge in Bout's case, seeking what was styled as a pre-motion hearing, for a ruling that would allow him to request that the Court will take judicial notice of the cancellation of United Nations sanctions previously pending against the defendant. The District Judge has sent the matter for November 2, 2015. Inasmuch as no motion has been approved for filing, there has been no response from the US Attorney's office in New York.

 Bout is seeking a new trial, based upon newly-discovered evidence, and his argument is that United Nations Resolution 2237, entered September 2, 2015, which removed UN sanctions associated with the civil war in Liberia, and included a lifting of economic & travel sanctions against him, is relevant to this pending motion. Inasmuch as the Court has required that any motion to supplement the existing record be heard in advance, the hearing is necessary.

After he lost his appeal to the Second Circuit, Mr. Bout's attorneys moved for a new trial, based upon newly-discovered evidence that was not known at the time of trial. We have previously covered this case in detail, including the ground for the motion, and readers are invited to review the prior posting on this blog, for the details.

HOW AN AMERICAN STOCKBROKER LAUNDERED COLOMBIAN DRUG PROFITS INTO BANK OF AMERICA

His name is Gary Lundgren*, an Alaskan stockbroker who abruptly left the state of Washington after a sexual harassment was filed against him there. He landed in the Republic of Panama, and was soon seen to have large amounts of US Dollars in his possession. The cash was Colombian drug profits, obtained due to a family connection to a major drug organization operating there (Perez).

His problem was, how to launder that money ? While he could easily deposit it into any one of a number of "see-no-evil" Panamanian banks, his clients wanted that money cleaned, and invested in the United States. How would he circumvent the AML compliance programs in place at American financial institutions ? Any large deposits coming from Panama would be immediately flagged for Source of Funds and Beneficial Ownership questions, and he could not easily explain huge deposits.

To make matters worse, Lundgren had no securities license in Panama, so he could not purchase stocks for front companies controlled by the drug trafickers. He needed to satisfy his clients, who demanded a solution from him, and are not known for patience.

His solution: to lend out the cash to newly-arrived residents, all Americans, Canadians and Europeans, who needed local financing to buy real estate, residential condominiums mainly, and direct them to make their monthly payments into the Washington bank account of his American brokerage house, Interpacific Investors Services, Inc. at the local Bank of America branch, at 203 Kirkland Avenue, in Kirkland, Washington.

These payments, from a wide variety of his clients, would not trigger any alarms, because the remitters were all legitimate individuals, and the amounts each not large enough to draw compliance attention at B of A. Of course, one wonders why the bank's compliance department did not see those payments as an artful form of structuring.

Gary Lundgren, and his wife, Griselda Perez

Once the money was in the Interpacific account, Lundgren could purchase securities in the name of any front men, or corporate entities, that he chose. It is his company, and he has a grown daughter working there, who will not be easily identified as such, due to a different last name. Lundgren is believed to be under criminal investigation, including by the Securities & Exchange Commission, for securities fraud, and selling unregistered securities, through front men, and he curiously has refrained from entering the United States for several years.

Since Ricardo Martinelli is no longer the President of Panama, Lundgren no longer benefits from his protection; will he now be extradited to face justice in the United States, or will he continue to operate his laundry in Panama ?
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* Also known as Gary James Lundgren. His attorney, who assisted him in all his money laundering ventures, is Alcides Bartolo Peña Araya, whom we have previously profiled on this blog.

WHY IS CAYMAN'S DUNDEE MERCHANT BANK, SUPPOSEDLY IN LIQUIDATION, OPERATING IN CANADA ?

A victim of the $450m trading scam, operated by a group of fraudsters known to the media as the Cayman Gang of Four, recently received a curious letter. Though it was sent by Dundee Merchant Bank, of the Cayman Islands, it contained a downtown Toronto address. Canadian readers know that Dundee Merchant Bank, which also traded as Dundee Bank, went into involuntary liquidation in Grand Cayman, a couple of years ago. So what's the story here ? Dundee Merchant Bank's small office in Grand Cayman has been closed for years. Is the bank open in Canada ?

The letter, received last week, was backdated to December, 2014, and it discussed the victim's investment account. Dundee Merchant Bank is believed to have been ordered liquidated by Canadian regulators, after it was discovered that the bank, which held only a "B" class banking license, no longer had the required international bank as a parent. Dundee Bank of Canada had been sold, and therefore the Cayman bank's license was no longer valid.

Why on earth is a bank, supposedly liquidated years earlier, still in operation, and in Canada, sending correspondence to an American investor ? Though there is no publicly-available information on the subject, it is believed that Dundee Merchant Bank had insufficient funds on hand to return to its depositors, and the officers, President Derek Buntain and Senior Vice President Sharon Lexa Lamb, could not complete the liquidation process. I leave it to the authorities, and regulators, in the Cayman Islands to determine what Caymanian laws, and regulations were violated.

Also, why use a Toronto address ? The original parent entity, Dundee Corporation, is located in Toronto. What is its involvement in what appears to be a breach of trust, by Dundee Merchant Bank officers, affecting its depositors ? We cannot say, but it suggests that the Bank of Canada may want to investigate whether the operation of an unlicensed, reportedly closed, financial institution, in Ontario, is a violation of Canadian law.



On last point, if you call the Canadian telephone number listed for Dundee Merchant Bank, it rings in Grand Cayman, where it is answered by none other than Sharon Lexa Lamb, who answers for Dundee Leeds, an affiliated company that itself no longer exists, having also been sold off, who assures callers that everything is normal, and that the victim's investments at Dundee Merchant Bank, are in good standing, and on deposit in the reputable, old-line financial institutions, Butterfield Bank.

Where are the Canadian and Cayman government regulatory authorities on all this ? Asleep at the switch, or influenced by the good old-boy network, in the financial industry, to ignore fraud when it occurs in their jurisdiction ?

THE CAYMAN GANG OF FOUR RENEGES UPON PROMISE TO RETURN MONEY TO AMERICAN INVESTOR

Sharon Lexa Lamb

An American pensioner*, living in Florida, who was promised a 100% reimbursement of his investment account by the accomplished fraudster, Cayman resident Sharon Lexa Lamb, has now, months later, been told by Miss Lamb that she would not be refunding his money after all. The investor, who rudely told the Canadian whistle blowers who have been publicly disclosing the details of the $450m trading scandal to leave him out of any civil or criminal action, as he was being paid in full, is now out in the cold, and his entire retirement savings is gone, looted by the Gang of Four.

Attorney demand letters have been sent to counsel for the Cayman Gang of Four, who are: Sharon Lexa Lamb, Ryan Bateman, Fernando Mota Mendes, and Derek Buntain, both in Grand Cayman, and in Canada, and the filing of civil litigation, as well as criminal action, is said to be imminent, lest any readers think that the claimants have lost momentum. Lamb and Mendes remain on the Caymans, operating a shell company, and insisting to investors that their money, which is largely gone, is totally safe, in a financial institution. From the office of Bateman's shell companies (B & C Capital, Bateman Financial, and Bateman Capital), they continue to mislead, and outright lie to, investors looking to obtain their money.

Derek Buntain

Considering that the most recent frauds, perpetrated upon North American investors, by white-collar criminals residing in the Cayman Islands, were total losses for the victims, the compliance world is waiting to see whether the Cayman Islands Monetary Authority, or CIMA, will step up in  this case, and assist in a recovery for the victims. Should it fail to act, many compliance officers will most likely choose to raise Country Risk on the Cayman Islands to a point where new investors are discouraged from incurring any financial risk, by engaging in investment activities there, and to recommend that existing investors remove their assets forthwith.

The fugitive Ryan Bateman

Watch this blog for new developments in the case against the Cayman Gang of Four.
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* Notwithstanding his extremely poor judgment, in agreeing to work with known fraudsters, he shall remain nameless here.

THE KING OF SLEAZE: HOW A BAD PANAMA LAWYER WINS ALL HIS CASES

His name is Alcides Bartolo Peña Araya, (Panamanian government ID Number 8-220-979)* and he has an astounding 100% success rate with his cases in the Republic of Panama, though he never goes to trial on any of them. Most Panama City lawyers tell me that they have never seen him in a courtroom. He has no office; he has been referred to as a mobile lawyer, meaning that he literally works out of his car. So how can he be so successful and wealthy ?

It's easy; for Sr. Peña is one of the dirtiest lawyers Panama has, and that's saying a lot, given that the country's court system is known for its corrupt, bought-and-paid-for judiciary, all the way up to the Supreme Court of Justice. Here is how Alcides Peña operates:

(1) Peña bribes the Fiscal  (prosecutor) to infinitely delay the criminal cases in which his client is the defendant. The cases never go to trial; justice delayed is justice denied. Bribing judges is commonplace for Peña, for whom the end justifies the means.

(2) In the field of civil litigation, he engages in bribing the secretaries, court clerk, office staff, file room clerks, and whatever other staff involved in the case, so that files are destroyed, pages removed, evidence lost, and whatever other sundry dirty tricks, and thefts, that he is able to pull on opposing counsel.

(3) He pays off interpreters and the staff at their companies, so that any necessary interpreter always is unavailable, or fails to show up for a court appearance of the parties. As the result, no cases ever move forward, where his client is the defendant, or subject to a counterclaim. Delays for four years or more are common in his caseload. Many opponents run out of money, or leave Panama permanently.

(4) He obtains, from corrupt members of the judiciary, ex parte injunctive relief, which is illegal under the Laws of Panama, including prohibitions on international travel, while the case is pending.

(5) He schedules court hearings, and fails to notify the opposing attorneys, which is unethical and improper in any jurisdiction, so that he can prevail upon a judge to enter a ruling favorable to his client.

(6) He threatens bodily harm upon any victims of crime, whom he cannot pay off or otherwise beat in court, using all the above corrupt techniques and actions.

(7) When all else fails, he boldly bribes opposing counsel, thereby insuring that he will never lose a hearing or motion, for his opponent, whose lawyer's palm has been greased, is a no-show in court. He just doesn't know that his lawyer is working with his opponent's lawyer, and his repeated failure to show up to oppose Peña'a motions means that they are always granted.

How can he get away with all this ? Panama has no bar exam, and no effective attorney disciplinary process in exists. Peña takes full advantage of Panama's rampant official corruption, to get a win for his clients, at all costs, knowing that he will not be disciplined.

You may recall that Alcides Bartolo Peña has appeared on this blog before; he is the attorney for the American expat, Gary Lundgren, a known white-collar fraudster and sexual predator, who has been labeled the "Bill Cosby of Panama," due to his long and sordid history of sex crimes. Peña procures young girls for Lundgren, and cleans up the subsequent mess, insuring that criminal charges of rape or sexual battery are never filed. When necessary to protect Lundgren, Peña pays off the victims, and bribes anyone and everyone who can close up the matter in the court system.

Gary Lundgren

So long as sleazy lawyers like Alcides Bartolo Peña Araya can openly bribe all the participants in litigation, there is no hope for the rule of law in the Republic of Panama; he deserves a long prison term, in one of his country's most primitive correctional facilities, together with all the other dirty Panamanian lawyers who engage in this obscene manner of practicing law.
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* Panama Supreme Court attorney identification number 1247.

SHOULD YOU RAISE COUNTRY RISK FOR CANADA ?

The recent elections in Canada are bound to result in major changes in government policies, and the impact of some of those changes could result in increased Country Risk for the country. If any of these categories is relevant to your existing, or future, relationship with Canadian entities or individuals, for compliance purposes. you may want to reexamine your present calculation of Country Risk for Canada.

(1) The new Liberal government plans to increase taxes upon individual who earn more than CAD$200,000 annually. Will this impact either existing foreign debt, or accounts receivable, of entities owned by Canadians ?

(2) The new government, if it is anything like the Liberal administration of Mr. Trudeau's father, will change the national debt situation, going from  a balanced budget, to a major increase in debt incurred.

(3) Will high net-worth Canadians again flee their country, and become non-residents for tax purposes, sheltering their assets in uninsured and dodgy Caribbean tax havens, where they could sustain a total loss, due to fraud, or bank failure ? If they are victims abroad, will they default upon their obligations at home ? or will they seek to hide their assets, and intentionally default ?

(4) The Liberal Government intends to open the doors to Syrian refugees; remembering the massive problems that occurred when Iranian nationals, some of whom were undesirable, or worse, were allowed briefly to enter Canada under the citizenship by investment scandal, will Middle Eastern  terrorist financiers, or even the actual terrorists themselves, be allowed entry, due to the misplaced humanitarian concerns of the new government ?

If you, your bank, or your clients, will potentially be adversely affected by any of the above scenarios, you may want to raise Country Risk on Canada at this tine.