Kenneth Rijock

Kenneth Rijock

Saturday, April 11, 2015

IS PANAMA'S FUGITIVE SECURITIES REGULATOR COOPERATING WITH US LAW ENFORCEMENT ?


Ignacio Fabrega de Obarrio, the Republic of Panama's former supervisor of its securities regulation agency, SMV, who is facing multiple criminal charges, has become a fugitive from justice. He is believed to have fled Panama, and a rumor is racing around Panama City this week that he is in the United States, and is cooperating with an unspecified American law enforcement agency.

Fabrega, who allegedly collected large bribes, in exchange for which he would torpedo potential, or pending, investigations into violations of Panama's securities laws, is known to have incriminating information regarding:

(1) Government officials currently in office, as well as Martinelli's former ministers, who are accused of participating in the Financial Pacific insider trading scandal, and securities fraud.
(2) Senior members of Panama's organized crime syndicate.
(3) American businessmen (expats) involved in securities fraud. This information would be of particular interest to the Securities & Exchange Commission, as many of the victims of securities crimes in Panama are US investors.

Obviously, Fabrega has committed several securities offenses under US law; he may also have violated the Foreign Corrupt Practices Act. He is considered armed and dangerous, and is alleged to have been responsible for a number of violent acts committed under his direct orders, including a homicide, in Panama.

 As soon as additional information is made public, we shall update our readers.


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