Thursday, Mar 30, 2023

Sons of Panamanian ex-president released from US prison

Sons of Panamanian ex-president released from US prison

The two brothers are expected to return to Panama on Wednesday, where they and their father face corruption charges.
Two sons of Panama’s ex-President Ricardo Martinelli are expected to return to the country after completing prison sentences in the United States for their involvement in an international corruption scandal.

Luis Enrique Martinelli Linares and Ricardo Martinelli Linares are slated to arrive in Panama on Wednesday evening after being released earlier in the day, shortly before the completion of their three-year prison sentence in the US.

They were convicted of conspiring to launder millions of dollars in bribes for the Brazilian construction company Odebrecht.

This August, the brothers are scheduled to go on trial again, this time in Panama, for their involvement in the scandal during their father’s time in office between 2009 and 2014. The brothers admitted to receiving $28m in bribes from the construction group, of which about $19m passed through US accounts.

Their father, the elder Martinelli, is also waiting to be tried on money laundering charges in the Odebrecht case but has said he will run for president again in 2024. Another former president, Juan Carlos Varela, is also scheduled to be tried in the August case, which includes charges against 36 people.

In 2016, the Odebrecht construction company admitted to paying out about $788m in bribes between 2001 and 2016 to win contract bids in Panama and 11 other countries. It paid the US $3.5bn in penalties.

In December 2021, the two Martinelli brothers pleaded guilty to conspiring to commit money laundering after they were extradited from Guatemala to the US. They were detained in Guatemala for 23 months before their extradition.

In May last year, they were sentenced to three years in US prison but were released on Wednesday after serving a total of about two and a half years, including time already spent in detention before their conviction. The AFP news agency reported that the brothers’ early release came as the result of good behaviour.

Their return to Panama is being followed closely, particularly as the August trial approaches. Panamanian Attorney General Javier Caraballo made a statement on Tuesday calling for the brothers to face justice in the country.

The brothers have paid a $14m bond in advance to avoid being jailed in Panama as they await trial on charges of money laundering and corruption.

Related Articles

Don’t Dismiss China’s Peacemaking Bid
China and Brazil have signed a new deal that will allow them to trade in their own currencies, bypassing the US dollar as an intermediary
Elon Musk and Others Call for Pause on A.I., Citing ‘Profound Risks to Society’
Nashville style execution
“We've had evidence prior to the pandemic that masks were largely ineffective at preventing community transmission of influenza “
Former Starbucks CEO Howard Schultz:
Former Starbucks CEO Howard Schultz rejects being labeled a "billionaire"
Jamie Dimon is being deposed over JPMorgan Chase role in Epstein lawsuits
Brand new security footage has just been released to the public showing the Active shooter Audrey Elizabeth Hale drove to Covenant Church School in her Honda Fit this morning, parked, and shot her way into the building
U.S. charges FTX's Bankman-Fried with paying $40 million bribe
Nashville Police release bodycam footage showing officers neutralizing trans shooter of Christian school
Fallen 'Crypto King' Who Owes Millions to Investors Was Kidnapped and Tortured
Regulators blame social media for SVB's rapid collapse: 'Complete game changer'
AOC explains why she opposes banning TikTok
Singapore’s Prime Minister says China and US need to stabilize relations because world can't afford a confict between the two superpowers
Gordon Moore, a co-founder of Intel Corporation, died at 94
Powell: Silicon Valley Bank was an 'outlier'
Bordeaux town hall set on fire in France pro democracy protest
Police violence in Paris
Donald Trump arrested – Twitter goes wild with doctored pictures
NYPD is setting up barricades outside Manhattan Criminal Court ahead of Trump arrest.
Credit Suisse's Scandalous History Resulted in an Obvious Collapse - It's time for regulators who fail to do their job to be held accountable and serve as an example by being behind bars.
Paris Rioting vs Macron anti democratic law
'Sexual Fantasy' Assignment At US School Outrages Parents
The US government has charged Chinese businessman Guo Wengui with leading a $1 billion fraud scheme that cheated thousands of followers out of their money.
Credit Suisse to borrow $54 billion from Swiss central bank
Russian Hackers Preparing New Cyber Assault Against Ukraine
"Will Fly Wherever International Law Allows": US Warns Russia After Drone Incident
If this was in Tehran, Moscow or Hong Kong
TRUMP: "Standing before you today, I am the only candidate who can make this promise: I will prevent World War III."
Drew Barrymore
China is calling out the US, UK, and Australia on their submarine pact, claiming they are going further down a dangerous road
A brief banking situation report
Lady bites police officer and gets instantly reaction
We are witnessing widespread bank fails and the president just gave a 5 min speech then walked off camera.
Donald Trump's asked by Tucker Carlson question on if the U.S. should support regime change in Russia?.
Silicon Valley Bank exec was Lehman Brothers CFO
Elon Musk Is Planning To Build A Town In Texas For His Employees
The Silicon Valley Bank’s collapse effect is spreading around the world, affecting startup companies across the globe
City officials in Berlin announced on Thursday that all swimmers at public pools will soon be allowed to swim topless
Fitness scam
Market Chaos as USDC Loses Peg to USD after $3.3 Billion Reserves Held by Silicon Valley Bank Closed.
Senator Tom Cotton: If the Mexican Government Won’t Stop Cartels from Killing Americans, Then U.S. Government Should
Banking regulators close SVB, the largest bank failure since the financial crisis
Silicon Valley Bank: Struggles Threaten Tech Startup Ecosystem"
Man’s penis amputated by mistake after he’s wrongly diagnosed with a tumour
In a major snub to Downing Street's Silicon Valley dreams, UK chip giant Arm has dealt a serious blow to the government's economic strategy by opting for a US listing
It's the question on everyone's lips: could a four-day workweek be the future of employment?
Is Gold the Ultimate Safe Haven Asset in Times of Uncertainty?