OP ED: “JB”

Some of the most important banking Institutions in Panama were involved in a transaction!   They were a group of well funded and established Panamanian banks also included was Ex President Ricardo Martinelli who also participated as an “investor”.  The case involves the purchase of the long standing and recognized editorial group known as EPASA which owns among other things newspapers and periodicals like The Panama America and also La Critica.

The “Investment Group” that made the offer to acquire Epasa and completed the transaction according to recent court records were very interesting.  According to the recent hearings everything was all done above board and with transparency.   The records indicate all funds used came from compliance and their legally begotten funds which were being held unscrutinized in their respective accounts for years.  Some of the investment group included  personal funds and even loan structures which were properly and well collateralized.  These funds were ALL held within Panama’s banking system which is actually very highly regulated by their Superintendency of Banks.   In the case  presented by the Panamanian District Attorneys they have not proven that any of these banks eluded or sidestepped any of their required audits or other compliance standards in terms of  the legality of the funds used by each Investor.  The EPASA Group who were the prior owners of this editorial conglomerate are the “Arias family”.   Whom have not ever been convicted of Money Laundering, ties to any terrorist activities or illegal arms dealings.  On the Contrary, they have been a well known and respected family in the Panamanian business community really going back as far as the history of the republic being established.

That Begs the question if The “Group” acquiring EPASA is also composed of well known  local business men and titans of business.  So the court records indicate clearly they used only legal, declared funds that came from a long-standing banking history.   Full compliance procedures of both the funds and the actual transaction were in place.   Verifying that there was in no way some sort of a secret purchase.  On the contrary it was a very well known scrutinized public negotiation and transaction.

Having myself a very vast experience and history in banking  and finance.  I have not yet seen any grounds or justification for the District Attorney to be asking the Judge to convict and sentence these businessmen as “Money Launderers” and seeking 18 year sentences.  I have never seen anything like this before.   It’s truly showing the current state of the “Bananama Republic”and how political interests are bleeding into the judicial system.  I truly feel sorry for some of the clearly innocent businessmen if they do get wrongfully sentenced which I do see happening.  But here on the ground that is what is going around and the current state of affairs.  As an American citizen and a retired Expat residing in Panama for decades now I am  terrified by what I am seeing happening in terms of the manipulation of the judicial system.  I was able to catch on TV all of the hearings of this case and there was not one example of a single proof presented to back up the prosecutions case?  The international community believe me is taking notice as well. Panama is consistently two steps forward, then three steps back.

I guess the Panamanian Justice System will just keep losing credibility Internationally like other leftist countries in LATAM.  But I don’t think Panamanians are looking  at “The Big Picture Here!”

This lady who is the judge in this case  is named Baloisa Marquinez.  She has selectively decided to spare the banks from any and all charges “locally” in Panama.   Which makes no sense at all since the funds came from those banks.  And those Panamanian banks had already legitimized those funds  before the transaction of EPASA. SO WHAT DOES THAT MEAN THEN?   Well I’m glad you asked!

 It means exactly the following.  THE MONIES WERE LAUNDERED BY THE BANKS BEFORE THE PURCHASE OF EPASA.  That is EXACTLY how the International banking community is viewing and analyzing this case. It’s also no secret that the international banking community has had their sights on erasing from the map the a Panamanian banking system for decades now.

Locally speaking these 14 Banks incredibly have dodges this bullet thanks to influence and Judge Baloisa Marquinez and her agenda.   However, their real problems Internationally are right around the corner.  This is what the groups behind eliminating Panama’s banking sector as competitors have been waiting for.  Once there’s an “Official Ruling” that this purchase  was indeed “Money Laundering”  thats all that they will need to shut them down.   There’a too much political activity in the US right now and also in Panama since officially political campaigns have begun.  But we know how the world works and they will just keep take these “Money Laundering“ local rulings and when the moment is right in 2024 these 14 Panamanian banks better brace for impact.  Because I promise it’s going to be !!!!!!!!

The local banking sector has already taken a hit for the last few years.  Heavy regulations and a slow economy but this will be no doubt the nail in the coffin.

No need to have a high IQ to see what’s coming. Expect the hammer to come down on them in the 1st  Quarter of 2024.  Some may survive but most won’t and will be liquidated as “International Money Laundering labels” wont give them a chance to even merge or sell to other banks.  As they say in Italy ARRIVEDERCI or CIAO!    Mark my words you saw it here first on PNO. “The TRUTH of PANAMA”

James “JB” Bryson