Former Panamanian president’s son pleaded guilty to US corruption case | Corruption News

Luis Enrique Martinelli pleaded guilty to money laundering in a project involving the Brazilian conglomerate Odebrecht.

Former Panamanian president Ricardo Martinelli has pleaded guilty money laundering Brazil’s Odebrecht construction is part of a massive corruption scheme, according to the US prosecutor.

Luis Enrique Martinelli admitted that he conspired with his brother Ricardo to set up offshore bank accounts to “receive and disguise more than $ 28 million,” the U.S. Department of Justice said. statement on Thursday.

“To carry out the project, Luis Enrique Martinelli agreed with others to move the wiring of Odebrecht’s bribery funds into and out of the United States, and used some of the scheme’s profits to buy a sailboat and a condominium in the United States.”

The 39-year-old admitted that part of the money was used to buy a sailboat and a condominium in the U.S., according to the department.

Punishment for Martinelli, who he was extradited To the US a few weeks ago from Guatemala, it is scheduled for May 20 next year. He will face up to 20 years in prison, the Justice Department said.

His brother remains in custody in Guatemala awaiting extradition. They were arrested in July for trying to travel to Panama charge in terms of outline.

Their father Ricardo MartinelliThe former president of Panama is investigating the Odebrecht affair, but has stated his intention to seek re-election in 2024.

Odebrecht’s research has tarnished many Latin American leaders and political parties. Former company bosses have admitted in court to illegally distributing millions of dollars in bribes in exchange for public contracts.