Panama: Ex-President Sentenced to 10 Years for Money Laundering

Facts

• Former Panamanian Pres. Ricardo Martinelli on Tuesday was sentenced to ten years in prison and fined $19M for money laundering.¹
• The case against him centered on claims that public funds were used to purchase a media conglomerate, giving Martinelli a majority stake.²
• The 71-year-old, until recently considered a frontrunner for the presidency in the 2024 race, is the first former president to be convicted of a crime in Panama. However, Martinelli's lawyers have said they will appeal the sentence.³
• Four other defendants were found guilty of participating in a scheme that used kickbacks from public contracts to buy a majority stake in newspaper and magazine publisher EPASA — ten others were acquitted.⁴
• Martinelli's lawyer Carlos Carrillo claims the development does not impact next year's general election, as he argues the candidate is still eligible to run for presidency since there is time to challenge the verdict.⁵
• In January, the US banned Martinelli and his two sons from entering the country, as he was accused of taking bribes in exchange for unduly awarding government contracts during his tenure.⁶

Sources: ¹Al Jazeera, ²Reuters, ³ABC News, ⁴EFE Noticias, ⁵VOA, and ⁶DW.

Narratives

• Narrative A, as provided by Times of Malta. The anti-corruption wave in Latin America has made the region's ex-presidents more vulnerable to criminal prosecution than ever before. Martinelli's sentencing is even likely to be followed by that of former Panamanian president Juan Carlos Varela Rodriguez. Their convictions send a message to crooked officials — who set up an entire illegal structure to collect the bribes — that betraying the public trust will no longer be tolerated.
• Narrative B, as provided by Bloomberg. Despite Tuesday's sentence, Martinelli remains an influential political figure. Last month he emerged victorious in his party's primary, which granted him the right to seek another term. These money laundering and corruption charges are politically motivated, while the trial is equivalent to political persecution. Martinelli is a victim of political manipulation designed to prevent his participation in the upcoming presidential elections.