Costa Rica Arrests Panama Entrepreneur David Ochy for Alleged Ties to Money Laundering

In a dramatic turn of events, Panama entrepreneur and former Panama presidential candidate David Ochy faced the long arm of the law as he was apprehended in Costa Rica on Tuesday, according to Prensa Latina.

The joint operation, orchestrated by the Public Prosecutor's Office and the Judicial Investigation Organization (OIJ), targeted Ochy for alleged involvement in money laundering.

The unfolding events were broadcasted by Teletica, capturing the raid on Ochy's residence in Guápiles, Limón province.

Simultaneously, the OIJ executed two synchronized raids in La Selva de Guácimo and Batán de Matina, focusing on a recently acquired farm with a packing plant connected to Ochy's business dealings.

The arrest follows Ochy's evasion of legal proceedings in the New Business case, which implicated 21 individuals, including former President Ricardo Martinelli (2009-2014), where Ochy wielded electoral jurisdiction during the investigation.

Despite being implicated in the New Business case, the Panama entrepreneur managed to evade the legal process, refusing to appear in court even after the lifting of his immunity.

Subsequently, he became a fugitive from Panamanian justice, a status that has now caught up with him in Costa Rica.

David Ochy's Connection with Panamanian President Ricardo Martinelli

Ochy's arrest brings to light his intricate connections with former Panamanian President Ricardo Martinelli, who, in July, received a sentence of over a decade in prison for money laundering, Reuters reports.

David Ochy, central to a case linked to Martinelli, sought refuge as a presidential pre-candidate for Martinelli's Realizing Goals party, providing him immunity from trial in the Martinelli case until the summer of the previous year when that legal shield was removed.

According to Randall Zuniga, head of Costa Rica's judicial investigation unit, Ochy arrived in Costa Rica over three months ago.

In this short period, he engaged in what authorities deemed "suspicious investments" in the country's Caribbean region.

The charges against David Ochy include money laundering and the use of a fraudulent Costa Rican identity card.

The arrest unfolded early on Tuesday in the Caribbean canton of Pococi, approximately 70 kilometers (43.5 miles) northeast of Costa Rica's capital.

Carlo Diaz, heading Costa Rica's state attorney's office, indicated that Ochy could potentially face extradition to Panama.

However, he must first navigate the legal proceedings in Costa Rica and may even serve a prison sentence there.

David Ochy's Business Involvements

Ochy, a co-owner of Transcribe Trading, is under suspicion for allegedly participating in the laundering of public funds to facilitate former President Ricardo Martinelli's acquisition of Editora Panamá América (Epasa), a case commonly referred to as the New Business case, per BNN.

This matter has been a focal point of controversy in Panamanian politics, revolving around accusations of public fund misuse by high-ranking officials.

Notably, during the June primary, Ochy maintained a low profile, refraining from active campaigning and vote-seeking efforts, resulting in an unsuccessful bid, Newsroom Panama noted.

However, in a surprising turn of events, in November, Martinelli nominated Ochy as a substitute deputy to the Central American Parliament (Parlacen).

The prosecution's case against David Ochy revolves around allegations that, through Transcaribe Trading Corporation (TCT), the company that, in August 2012, impeded the circulation of La Prensa and Mi Diario newspapers, he transferred funds to the basket account of New Business Services Ltd.

These funds, originally advances provided by the State in exchange for the renovation of the Arraiján-La Chorrera highway, were reportedly utilized for the acquisition of Editora Panamá América shares in December 2010.

This transaction occurred during Martinelli's governorship, with the trial establishing Martinelli as the beneficiary of 60% of Epasa's shares.

This article is owned by Latin Post.

Written by: Bert Hoover

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