Panama’s ex-President Ricardo Martinelli has been sentenced to more than 10 years in prison for money laundering, according to the attorney general’s office. This verdict poses a threat to Martinelli’s ambitions for a new term as president next year.
The case, known as “New Business,” was initiated in 2017 when authorities discovered potential financial crimes related to the acquisition of a news outlet, as stated in the official statement.
Carlos Carrillo, Martinelli’s lawyer, announced in a news conference that the former president’s defense would appeal the sentence and pursue all available legal avenues. Carrillo asserted that Martinelli’s candidacy remains strong and highlighted that there is still time to challenge the sentence, making him eligible to run for the presidency.
A survey conducted in May by polling firm Campaigns & Elections Mexico positioned Martinelli as the front-runner, with former President Martin Torrijos following closely behind.
The court has also imposed a $19.2 million fine on Martinelli, as confirmed by judicial authorities in their statement.
Last month, Martinelli became the first official candidate for Panama’s 2024 presidential election after being elected by the Realizando Metas party, a group he established two years ago.
Luis Camacho, Martinelli’s spokesperson, stated that their team would scrutinize what they perceive as a legal attack on Martinelli.
In January, the United States barred Martinelli from entering the country, accusing him of accepting bribes in exchange for improperly awarding government contracts during his administration from 2009 to 2014.
