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Money laundering as major issue in Panama Odebrecht case

Money laundering as major issue in Panama Odebrecht case

Panama City, Sep 16 (Prensa Latina) The hearing of the Odebrecht case in Panama enters its fifth day of reading, with a 800-page investigation providing new evidence on money laundering crime.

At the hearing, the anti-corruption prosecutor’s office presented testimonies proving money laundering crime committed by natural and legal people, including former government officials, reports supported by international legal assistance from the United States, Brazil, Switzerland and Andorra.

According to the Public Prosecutor’s Office, the Brazilian construction company and its worldwide subsidiaries made onerous contracts with the Panamanian State and has conducted important projects since 2006.

The prosecution also alluded to the creation of firms and the subsequent opening of bank accounts to third parties, which sought to erase clues about their true owners or final beneficiary.

In this regard, it was proven that Odebrecht created an office called Department of Structured Operations, which in turn used its software to manage the accounting of the group’s firms, but especially the parallel accounting regarding the illicit movement related to bribes where works were done.

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