Panama’s ex-President Martinelli sentenced to over 10 years, claims conviction was politically motivated

Former Panamanian president Ricardo Martinelli, sentenced to 10 years and 6 months for money laundering, declared his innocence, suggesting his conviction was politically driven.

This statement was made via a short video posted on his social networks.

The case, known as “New Business”, relates to an irregular purchase in 2010 of Editorial Panamá América S.A. (Epasa), resulting in a sentence of 128 months in prison and a 19.2 million-dollar fine.

Martinelli asserted that this verdict was an attempt to disqualify him from public office.

The former president, 71, remains undeterred, stating, “I will continue fighting for you and your family until I am president of Panama again.”

His defense team has announced plans to appeal.

Additionally, Martinelli and his two sons face charges in the Odebrecht case.

The sons have already served time in the U.S., confessing to laundering US$28 million and transacting bribes.

Despite this sentence, Martinelli’s presidential candidacy remains viable until it has been ratified in all instances, with the Supreme Court being the last, as stated by constitutionalist Ernesto Cedeño.

For the Epasa purchase, US$43.91 million were collected in 2010.

The Prosecutor’s Office maintains Martinelli as the “beneficiary” and “holder of 60% of the shares” of the publishing house.

The recent verdict resulted in the dissolution of two companies, and the confiscation of shares of a publishing house, in favor of the state.