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Panamanian Prosecutor appeals bail of Francolini release

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  • Thu, 05/24/2018 - 14:25
Ricardo Francolini
  • Telemetro

The Panamanian prosecutor's office today appealed the release upon bail granted by a court in favor of Ricardo Francolini, former director of the State Security Fund bank (CSS), accused of alleged money laundering through bank accounts at the defunct stock house Financial Pacific (FP), an official source said.

Francolini's bail, presidential candidate of the opposition Cambio Democrático Party (CD), was granted and set at one hundred thousand dollars this Tuesday by the 14th Circuit Court, under Judge Vilma Urieta's charge.

Francolini, president of the television network Next TV, owned by the Panamanian former President Ricardo Martinelli (2009-2014), was provisionally arrested on Monday after making an inquiry before the 7th Anticorruption Prosecutor's Office for this case.

In the brief supporting the appeal, the 7th Anticorruption Prosecutor, Leyda Saenz, expresses her disagreement with the measure adopted by the judge, taking into account that the defendant through the company Goldline Overseas Business, SA, and lawyer Valentín Martínez "They handled more than half a million dollars control free."

According to the Prosecutor, the bond does not comply with the provisions of the Procedural Procedure Code given the nature of the crime.

On the considerations of the defense that there is no flight risk by the represented, as he has a known address in the exclusive residential sector of Costa del Este, Balmoral, the prosecutor disagrees with this consideration in her writing as Francolini "was not reachable" in the different occasions that personnel of the Prosecutor's Office went to practice proceedings "in the specified residence".

Therefore, Prosecutor Sáenz asked the magistrates of the 2nd Superior Court of Justice, who will eventually hear the appeal, "to revoke the decision of the 14th Court, and as a result, the release of the defendant Ricardo Francolini not be granted", reported the Judicial Branch (OJ).

"This criminal case, which is in the 14th Court in process for the appeal, is related to possible illegal behavior in the bank accounts of the FP broker-dealer house, which were subsequently transferred to various accounts, among them, to the Jal Off Shore Ltd investment," the OJ states in a press release.

Carlos Carrillo, Francolini's defense lawyer, told ACAN-EFE today that his client is still being held at the facilities of the Judicial Investigation Directorate since the bond was appealed.

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