Panama ex-president loses last bid to avoid jail

Panama City: Panama's Supreme Court has rejected the final appeal of former president Ricardo Martinelli against an 11-year jail term for money laundering, according to the ruling published Friday, which should block him from May elections in which he was a frontrunner.

Martinelli, who was president from 2009 to 2014, was found guilty last year of using stolen public money to buy a stake in a publishing house. He also received a $19 million fine.

He and others were found to have used a series of front companies to siphon off almost $44 million from state infrastructure contracts during his presidency.

Martinelli, now 71, used part of that money to buy a controlling stake in the Editora Panama America media company, whose newspapers adopted an editorial line that promoted his interests.

The Supreme Court ruling said it would "not admit" his appeal.

Martinelli has been investigated for multiple corruption scandals since leaving office. In 2021, he was acquitted on charges of espionage and embezzlement of public funds.

He faces a separate trial, scheduled after the May 5 elections, over alleged bribe payments during his presidency from the Brazilian construction giant Odebrecht for public works projects in Panama.

Odebrecht pleaded guilty in 2016 to a massive bribery scheme in at least 10 countries and agreed to pay $2.6 billion in restitution to US, Brazilian and Swiss authorities.

The Brazilian company admitted paying bribes worth $59 million in Panama in exchange for public works contracts.

Martinelli was a millionaire businessman when he became president in 2009, and he enjoyed high approval ratings as the Central American country's economy boomed and he implemented popular social programs.

Ten candidates had qualified for this year's presidential election, including former president Martin Torrijos and current Vice President Jose Gabriel Carrizo.