Ex Municipal engineer who became millionaire, under arrest

 
306Views 0Comments Posted 22/12/2009

Panama’s former Municipal Engineer Jaime Salas who, as a government employee, never earned more than $5,000 a month, has over $2, million in the bank .


He is under arrest, charged with money laundering and corruption.
He also owns three residences, three other pieces of property, and 11 cars  according to reports in La Prensa.
It is alleged he opened a bank account with an initial balance of $100 in 1999. It was closed without funds in November 2000. In April of 2000, he opened another account with $550 in it, and closed that account out a month later.
In September 2006, after being appointed municipal engineer, Salas' finances suddenly improved. He opened an account with $40,500, and received a loan for $50,000 which he later paid off a few years later.
He purchased a BMW registered in the name was a clerk in a company controlled by Salas, Edificaciones Portobelo, S.A.
The clerk earned a salary of $900 a month, while the company paid all the bills on the vehicle.
Salas joined Portobelo S.A. as president on Nov. 27, 2009, according to information at the public registry, and received income of $1.9 million from the company into an account at Banco del Istmo between July 2005 and October 2007.