A BUSINESSMAN who told prosecutors that he made regular deliveries of suitcases stuffed with $400,00 -$600,000  in cash to ex-president Ricardo Martinelli, is absolved from jail time by paying $300,000.

Cristóbal Salerno was sentenced on Friday, January 5, to  48 months in prison, replaced by payment of a fine. In messages posted on Twitter, the Public Ministry (MP) explained that First Criminal Circuit, Judge  Agueda Rentería, approved  a punishment agreement and condemned Salerno to a prison sentence, but he  will not go to jail because the court replaced the penalty with a  500 days fine at the rate of $600 a day, making a total of $300,000 d payable in four months.

The judge also ordered the confiscation of $20 million in the case, investigated by anti-corruption prosecutors.

[caption id="attachment_77616" align="alignleft" width="214"] Luis Cucalon.[/caption]

Cobranzas del Istmo received a lucrative contract from the former government to collect back taxes on a commission basis. It collected more than $40 million, Salerno also said he gave a check for $2.8 million to former Revenue Department Director Luis Cucalón, recently jailed in another case. Salerno is also facing criminal charges in another investigation.