Ex state bank president denied bail

Riccardo Francolini, facing trial, gets delegate nod
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RICCARDO FRANCOLINI’S introduction to life behind bars will continue after The Second High Court of Justice denied a bailapplication.

The decision confirmed an earlier one by Judge Alina Hubiedo  in  the Thirteenth Criminal Court;

The decision, was announced by the Secretariat of Communication of the Judicial Branch, on Tuesday, April 4

Francolini, a former Ricardo Martinelli business associate and member of the ex-presiden’ts inner circle, has been detained since October 12, 2016, on the orders  of the First Anti-Corruption Prosecutor as part of the Investigation of the irregularities in the loan granted by The Caja de Ahorros (CA) to the consortium HPC Contratas P & V, for the alleged construction of the  Amador Convention Center, which was never completed.

The $9 million loan, was granted during the, Martinelli administration when Francolini served as president of the Board of Directors of the CA.

The preliminary hearing of this case was to be held on March 27, but was canceled because lawyer Luis Eduardo Camacho Gonzalez filed an objection against the presiding judge.

Camacho was the former  spokesman for the CD Party and remains spokesman for  Martinelli.

Francolini remains behind bars, serving his apprenticeship for what could be a long stay if he and his accomplices are found guilty.

 

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