Convicted high roller's yacht sold at auction
A yacht seized from convicted high roller David Murcia Garcia, originally valued at $1.2 million, went for $600,100 at an auction.
The money will be used to help pay back the estimated $3.5 million fleeced from 780 Panama residents by Murcia's defunct company DMG in Panama.
The winning bid was from Cardoze & Lindo according to an official source.
Murcia was arrested in Panama in November 2008 and shipped to Columbia where he was sentenced, early this month to years in prison for illegal collection of money. He faces further charges of money laundering in the US and Panama.
Among other goods seized from Murcia and his companies, were ten luxury cars two apartments, and three motorcycles, in addition to $1.3 million dollars deposited in local banks.
It is believed that an estimated 200,000 people invested in the company.
During the recent elections Murcia caused political waves with allegations that he paid $6 million dollars to the PRD (Democratic Revolutionary Party) presidential candidate Balbina Herrera and mayoral candidate Roberto Velasquez.
Velasquez was, at the time, leading in the polls.
Within days Bosco Vallarino surged ahead, and won the mayoralty race. He is now facing investigation and strong criticism for his performance since taking office.
Within days Bosco Vallarino surged ahead, and won the mayoralty race. He is now facing investigation and strong criticism for his performance since taking office.
