Ex-Martinelli cohort lifts lid on newspaper deal

The Epasa offices

864Views 1Comments Posted 10/08/2020

The former president of Editora Panamá América, SA (Epasa) Ricardo Chanis has provided  the Public Ministry  with details  of how Ricardo Martinelli and Henri Mizrachi bought the publishing house which publishes Panama America and La Critica although Martinelli controls a TV station and owning a daily newspaper  is forbidden

The deal took place  in 2010 while  Martinelli was president and is now the focus of a criminal investigation  involving the use of government funds known as “New Business.” Lawyer Chanis, made his statements to criminal prosecutors in February.

When it comes to freedom, each one looks out for himself says La Prensa and Ricardo Chanis  has begun to distance himself from Martinelli.

The purchase of Epasa involved the disbursement of some $47 million, which included the cash payment of a debt of Epasa - of $12.5 million - to the General Bank, which Martinelli paid as a "shareholder loan,".

The purchase required a financial architecture in which, according to Chanis, Global Bank intervened directly, that by 2011, two Epasa shareholders - including Martinelli - controlled almost 25% of the shares of that bank, said Chanis. The corporate maneuvers submerged the new owners of Epasa under layers and layers of corporate entities, hiding their identities.

Accused of money laundering in the New Business case, Chanis has revealed details of the purchase and sale of Epasa, according to the Public Ministry, part of the payment was made with public funds contributed by state contractors.

Chanis began by saying that he knew that $34.1 million would be paid for Epasa, but that he did not know the origin of those funds.

He also said he knew that at that price it was necessary to add a debt that Epasa maintained with Banco General, of $ 12.5 million. In total, according to Chanis, $ 46.6 million were disbursed in the purchase-sale operation of the publishing house.

The lawyer claimed that he was contacted in November 2010 by Henri Mizrachi Kohen, whom, until then, he did not know personally. Mizrachi asked him for legal advice to buy Epasa. He accepted, although his role was not limited to that of an advisor.

Chanis provided the Public Ministry with emails and multiple documents on the purchase of the company, companies created for this purpose, as well as communications with the Global Bank, which approved a loan to complete the millionaire disbursement.

The lawyer stated that he was not expected to be a member of the Epasa board, but that Mizrachi asked him - shortly before the sale was completed, on December 21, 2010.

Although Mizrachi endorsed Chanis the presidency of Epasa –and the position of treasurer–, the businessman had no problem occupying the position of secretary of the board, together with Alberto Esquenazi, as director.

Chanis distances himself from both by ensuring that, although he served on that board, he did so as an "independent".



Comments 1

George Klk

Panama | Martinelli Power and Control Just Beginning...Here's How!!! Underground Corruption Facts: 1. Former president Ricardo Martinelli a business man was in office... 5 years legally appointing powerful political figures to aid in his total and complete control of the... a. Panama Supreme Court Justices and the lower courts. b. Legion of attorneys c. Major business sectors and financial institutions. d. Police department e. Prison System f. Hire trustworthy family members his... sons for underground operations and payoffs. g. Joined the Guatemala Parlacen and was sworn in as deputy. to accomplish his ultimate goal for control and power of ... Panama state funds, major business and financial institutions... the economy of the state as a world trade center of Panama! 2. Martinelli had to use legal tactics with with his attorneys to establish underground money laundering using layers and layers of... non-existing corporations in name only to hide his sources of wealth. 3. Martinelli used foreign accomplices with the... Panama state funds to install an Israeli ... Pegasus spy equipment to keep tab of any opponents he deemed a threat to his rise for power. 4. Martinelli purchased through state funds his own... news media outlet to control negative publicity. 5. Martinelli hired a battery of lawyers...his legion of attorneys who knew Martinelli had control of...[All]... Panama Supreme Court Magistrates and the... lower court justices. 6. Martinelli assured the continual underground operations after his term in office with the payoffs in bonuses to the police chiefs, pardon and release of prison inmates and maintains communication with the underground operations through his sons and... Guatemala Parlacen / Mexico connections for U.S. drug routes and political party control. 7. Martinelli uses his legion of attorneys to suppress freedom of speech and attack legal adversaries for defamation and slander. In addition, files lawsuits to confiscate homes and other properties against his legal adversaries including Panama prosecutors to delay... due process against any Martinelli alleged charges. 8. Former presidents...Martinelli and Varela are under house arrest and with newly appointed prosecutors unfamiliar with the alleged charges and cases, have been appointed by the current... PANAMA PRESIDENT CORTIZO! A WELL KNOW SUPPORTER OF MARTINELLI DESPITE HIS FALSE PROMISES TO CLEAN UP CORRUPTION!

9 months ago
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