Panama's ex-president, Ricardo Martinelli, has been granted political asylum by Nicaragua after Panama's Supreme Court rejected his appeal regarding a 10-year money laundering conviction, AP reports.

Martinelli's lawyer, Shirley Castañeda, revealed outside the Nicaraguan embassy that the asylum had already been granted, citing concerns for his life as the primary reason.

Nicaragua's Foreign Affairs Ministry confirmed Ricardo Martinelli's asylum, stating that Martinelli sought refuge due to political persecution and an imminent threat to his life.

The ministry urged Panama to facilitate his prompt exit to Nicaragua. Martinelli's spokesman, Luis Eduardo Camacho, indicated that Martinelli would stay inside the Nicaraguan Embassy in Panama until safe passage to Nicaragua was secured.

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Presidential Ambitions Amid Legal Setback

Despite facing legal challenges and a recent rejection of his appeal, Martinelli, campaigning for a return to Panama's presidency in this year's elections, asserts that he is a victim of political persecution with his life at an "imminent" risk, as stated by Nicaragua's foreign ministry.

Electoral authorities in Panama have not provided updates on Martinelli's candidacy status following the court's decision.

Nevertheless, Ricardo Martinelli, who served as Panama's president from 2009 to 2014, maintains a lead in polls ahead of the May presidential election, according to Reuters.

Panama's foreign ministry has not responded to requests for comment on the recent developments.

Nicaragua has previously granted asylum to two former presidents of El Salvador, Mauricio Funes and Salvador Sanchez.

Legal Battles and Ongoing Investigations

The 71-year-old former president, a millionaire businessman during his 2009 presidency, has been under investigation for various corruption scandals since leaving office, per Barron's.

Martinelli was acquitted of espionage and embezzlement charges in 2021 but faced another trial post-May elections over alleged bribery payments from the Brazilian construction giant Odebrecht during his presidency.

Martinelli, still popular according to opinion polls in Panama, denounced the Supreme Court's recent decision as an "illegal last-minute move" to remove him from the presidential race.

Article 180 of Panama's constitution bars anyone sentenced to five or more years for a crime from being elected president or vice president.

His conviction for money laundering, relating to the 2010 purchase of a publishing company, involved the alleged funneling of money from companies with lucrative government contracts during his presidency.

The transactions amounted to $43 million through a front company named "New Business," ABC News noted

Ricardo Martinelli received a more than 10-year prison sentence and a $19 million fine, with an appeals court affirming the sentence in October.

Ricardo Martinelli, known for overseeing significant infrastructure projects, including the capital's first metro line, is the first former Panamanian president convicted of a crime.

The United States government barred him and his family from entering the country in 2021 based on significant corruption allegations.

As Panama faces challenges such as water shortages in the Panama Canal and potentially costly arbitration cases, the upcoming government, dealing with a slowdown after years of economic success, must address multifaceted issues, according to the Financial Times.

The country, once a poster child within Latin America, anticipates disappointments in economic growth amid mounting difficulties, according to experts.

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This article is owned by Latin Post.

Written by: Bert Hoover

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