Panama Investor Blog

S.C. port authority in hot water over Panama trip

A web publication called "The Nerve" carried a story about a number of lawmakers from South Carolina being investigated because of the amount of spending for a two day trip to Panama. Seems the good people of the south are not so happy with the politicians gallivanting around the globe spending large sums with questionable results. As I recall from a local article there was some scandal associated with the one of the lawmakers who stayed an extra day in the country. Unfortunately, unlike Vegas, what happens in Panama does not always stay in Panama.

Written By: Rick Brundrett

                    The Nerve

Wednesday, January 26, 2011

At least $29,000 was spent on a three-day trip to Panama last September sponsored by the S.C. State Ports Authority, and that included five state lawmakers on a commission overseeing the authority, according to documents obtained by The Nerve.

The stated purpose of the trip was to promote South Carolina ports to Panama Canal officials. But there are a number of unanswered questions, including why two of the lawmakers who went stayed an extra day in the Central American country.

Among other things, the more-than 100 pages of documents, which were provided by the Ports Authority under the S.C. Freedom of Information Act, show that during the Sept. 22-24 trip:

• The group of 24, which included Ports Authority Chairman Bill Stern and other board members, Ports Authority CEO Jim Newsome, and representatives from five companies, spent most of the one scheduled full day of the trip on tours of the Panama Canal area or traveling to tour destinations, according to their itinerary. One 90-minute formal meeting was scheduled with Panama Canal authorities in the morning; another 90-minute reception with canal officials was scheduled for the evening.
• Two lawmakers who went on the trip – Rep. Bill Sandifer, R-Oconee, and then-Rep. Harry Cato, R-Greenville – spent an extra day in Panama, though documents provided to The Nerve provided no explanation as to why. Ports Authority spokesman Byron Miller told The Nerve on Tuesday that Sandifer and Cato stayed behind an extra day after Sandifer suffered an injury, though Miller said he didn’t have any details on how it occurred, and the two lawmakers didn’t respond to The Nerve’s request for interviews.
• The other three lawmakers who traveled with the group were Sen. Larry Grooms, R-Berkeley; Sen. Phillip Shoopman, R-Greenville; and Rep. David Weeks, D-Sumter. All five lawmakers are or were members of the Ports Authority Review and Oversight Commission, which is required to screen board candidates and conduct oversight reviews of the authority at least once every two years. Grooms was chairman of the oversight commission last year; Cato, the then-House speaker pro tempore who lost his re-election bid last year, was the commission’s vice chairman.
• Grooms, who also is the Senate Transportation Committee chairman, reimbursed the Ports Authority $1,490.47 for his trip expenses with a check drawn on his “Grooms for Senate” account, according to a copy of the check provided with the documents.
• Nearly $1,600 was spent by the group, or at least $62 per person, on one dinner at a private club in Panama.  Newsome’s tab at the Marriott Panama, where the group stayed, included about $148 for another dinner and drinks for some members of the group.
• Another $1,440 was spent on books on the Panama Canal for the 24-member group, and $120 was doled out for flower purchases.
• Besides covering most of the trip costs for the seven-member legislative group, which included two staffers, and eight Ports Authority staffers and board members, the Ports Authority also paid airfare and hotel costs for a representative of a Washington lobbying firm that represented the authority last year, and a senior vice president at the Charleston Metro Chamber of Commerce, Miller confirmed. The other private parties paid their own expenses, he said.

In a written response Monday to The Nerve, Miller said the total trip cost to the Ports Authority was about $29,400, not including certain individual “ancillary” expenses, such as parking charges. But a precise final tab was not provided.

One of the documents provided to The Nerve listed total trip costs at about $28,000, though it didn’t specify flight costs for most of the lawmakers and two legislative staffers. Another document listed total trip costs for the legislative group at about $10,500.

Miller said all of the trip funds were provided “through the Ports Authority’s operating accounts, i.e., revenues from our customers, who also are customers of the Panama Canal,” adding that the agency receives no state appropriations for general operations.

‘Implication of Instability’

 

The purpose of the trip was to “promote South Carolina and her shipping capabilities to port and maritime leadership in Panama,” and to allow the Ports Authority board and legislative oversight commission to “see firsthand how this project relates to our capital plan.”

 Contacted last week, Sen. Shoopman told The Nerve that Ports Authority officials approached the oversight commission about the trip, contending it was necessary to repair a perception among canal officials of a “disconnect” between the Ports Authority and former Gov. Mark Sanford, who battled with the agency during Sanford’s administration.

“It gave the implication of instability,” Shoopman said, noting that during his visit he noticed that canal officials  “didn’t even have our port on their map.”

Still, Shoopman acknowledged that he wondered at first, “Why do you want me to go down there for 33 hours?”

Shoopman said he didn’t know why Sandifer or Cato stayed an extra day in the country. Sandifer, Cato, Grooms and Weeks did not respond last week to written or phone messages left from The Nerve.

Asked if he believed if going on a trip paid for by the Ports Authority posed a potential conflict of interest for the oversight commission, Shoopman replied:  “I hadn’t thought about it. … We can’t veto any decisions they (the Ports Authority) make. All we do is tell them, ‘We want you to tell us what’s going on.”

Asked the same question, Miller replied: “Again, the Ports Authority was most open and forthright about this trip and welcomed media attention both before and after the visit. A fair look at the agenda reveals a rather intense and compact educational and promotional visit.”

Miller said he was not aware of any other trip involving oversight commission members or other lawmakers “where expenses were paid by the Ports Authority.” He cited a state law that requires the Ports Authority to pay for commission expenses, though the law doesn’t address overseas trips.

Half of the 10-member commission did not attend the trip. Contacted last week by The Nerve, commission member Rep. Jim Harrison, R-Richland, said he didn’t believe it was necessary for him to go.

“I’ve seen the Panama Canal, and I’ve taken a good tour of the Panama Canal,” said Harrison, the House Judiciary Committee chairman. “You don’t need to see that to understand (what’s going on) if the canal is widened and deepened.”

The Port of Charleston is competing with ports across the country for more and larger ships that are expected to move through the Panama Canal when a third set of locks is scheduled to be completed in 2014.

Miller said the expansion project is the “single biggest project impacting international trade flows since the advent of modern container shipping in 1956,” adding that the Port Authority’s 10-year, $1 billion capital plan is “very much related to this project.”

S.C. Ports Authority officials want to deepen the Charleston port to 50 feet from 45 feet, compared to a planned dredging at the Port of Savannah to 48 feet from 42 feet, according to published reports.

But Georgia is ahead in the federal clearance process; the Palmetto State has been struggling to find approximately $400,000 in federal funds to be used toward a feasibility study on deepening the Charleston port.

The Charleston port-deepening project, if approved, is projected by Ports Authority officials to cost about $300 million, according to agency statements.

Lawmaker Costs

Originally, oversight commission member Hugh Leatherman, R-Florence and chairman of the Senate Finance Committee, was scheduled to go on the Panama trip but dropped out, according to documents provided by the Ports Authority.

His airline ticket, however, was non-refundable, and his hotel reservation could not be cancelled because it was too late, so those charges were incurred, documents show.

Including Leatherman’s costs, $10,433.28 was spent on the legislative group who went on the trip, which included a House staffer and a Senate staffer, according to documents. That worked out to $1,490.47 per person, the amount that Grooms reimbursed the Ports Authority.

Based on that amount, the cost of the trip for the five lawmakers was $7,452.35. But that figure didn’t include the extra night’s stay for Sandifer or Cato; the base room charge at the Marriott Panama was $143.63 per night, according to documents.

Miller told The Nerve in his written response to questions about Sandifer and Cato that as the legislative delegation gathered at about 4 a.m. on Sept. 24 for the return flight, “Rep. Sandifer was not down in the hotel lobby because he was injured in his room,” though he said he didn’t know how the lawmaker was injured. Sandifer was accompanied by Cato and House staffer Andy Fiffick, who flew home the following day, Miller said.

One of the documents listed the trip costs for the entire group at $27,698.89, including $8,620.54 in hotel charges. Miller told The Nerve that the Ports Authority paid for flights for 16 people, adding that Sen. Grooms reimbursed the authority for his flight and that Stern, the Ports Authority chairman, “covered his own flight.” The flight cost for each member of the legislative group was $879.70, according to one document.

Eight people representing five companies also went on the trip. Miller said the Ports Authority covered the airfare and hotel costs for a representative of Strategic Marketing Innovations (SMI), a Washington, D.C., lobbyist firm that, according to the U.S. Senate’s federal lobbying database, represented the Ports Authority last year; and a senior vice president of the Charleston Metro Chamber of Commerce.

Asked why the Ports Authority covered those two individual’s travel and hotel costs, Miller replied that they were “invitees of the Ports Authority and, as such, the SCSPA covered their expenses.”

The other four companies represented on the Panama trip were:

• TBC Corp., a Florida-based wholesale and retail tire company that, according to published reports, is building a 1.1-million-square-foot distribution center near Summerville;
• Rockefeller Group Development Corp., a New York-based commercial real estate development and management firm;
• MeadWestvaco Corp., a global packaging company based in Richmond, Va.;  and
• Jones Lang LaSalle, a Chicago-based global commercial real estate firm.

Miller described the private parties as “both allies and stakeholders in the success of our ports.”

Reach Brundrett at (803) 254-4411 or rick@thenerve.org.

 

Protect the Goose That Lays the Golden Eggs

Eduardo Morgan is a well known and respected attorney in Panama and he is also a fellow blogger. He posts some interesting story's about Panama from the viewpoint of a patriot and conservative. In the excerpt below, he argues against  the statements made by U.S. ambassador to Panama, Barbara Stephenson, that came out in Wikileaks regarding the Tocumen airport being a hub for money laundering. He makes some valid points and also a brief defense of the tourism authority manager Salo Shama. I am meeting with Shama next week and will post regard his side of those allegations. You can view Eduardo Morgans blog here.

Excerpt: I allude to this experience in light of the assertions by the U.S. Embassy regarding the laundering of drug money in Panama’s Tocumen Airport. It is absurd to think that travelers coming from, mainly, the Caribbean, and South and Central America, are full of drug money, since the $600 billion generated by the drug trade is produced at the sites of consumption, i.e., in the United States. Drug money flows from north to south: from the U.S. to Colombia, Bolivia, Peru, etc. Drug dealers are not so dumb as to move large amounts of cash by plane from a U.S. airport (with strict controls). Narco-dollars are used for imports and exports, for example, the so-called black market for Colombian pesos and the cash purchases of mobile goods like cars and helicopters. This is documented by FinCEN, a U.S. government agency, on its website. Our hub is no different from London’s or Amsterdam’s, and neither are the duty-free shops managed by successful entrepreneurs who have long been engaged in this business.

Be sure to read the entire post here.

Here's who to call if you get screwed by a developer!

My post last week regarding being screwed by a developer last week recevied a lot of comments and garneshed a few  imformative emails from avid readers. Gail Geerling  has worked on a commitee with the American Chamber of Commerce here in Panama to educate buyers on the pitfalls  and help them navigate through them. Here commenst are below. I also recieved an email from Mitch Creekmore of Multinational title insurance. Here are his comments.

"If I have a title policy issued and I go to sell and find out someone has committed fraud against my land title, my recourse is to the title company who issued the policy via a claim and the coverage’s, conditions, stipulations and exceptions under the policy.  Without it, an owner’s recourse is to no one, not even the notario.  Or you can sue the original seller.  In the case of Costa Rica, we created the endorsement so each year we can renew it at the owner’s discretion with payment and check the public registry.  It’ a minimal cost for the peace of mind it gives.  But naturally, the Panamanian agents and attorneys pooh pooh the notion of title insurance and say it’s not needed…., until there’s a problem Sam

Here is Gails suggestions:

It seems as though all is not lost when it comes to getting screwed by a developer here in Panama.  So what do you do when it all goes wrong?

 According to Gail Geerling, whose company helps foreign investors learn how to navigate the system in Panama, “No longer do buyers- foreign or local- have to accept shoddy, sub-standard construction, outrageous clauses in their contracts, or developers who dance rather than deliver.  There is another option.”

 Panamanians love acronyms, so of course we expect they’d use one of the longest to refer to Panama’s consumer protection agency, ACODECO.  Autoridad de Proteccion al Consumidor y Defensa de la Competencia is a public autonomous entity, which means that it actually has some power to carry out its purpose and follow through—unusual in Panama.  It was created in its original form in 1969, and has morphed quite a bit over the years- including at least two name changes and several refinements to the law pertaining to its rights and abilities.  Though the changes have all been positive they are somewhat confusing, so perhaps that’s why few consumers are aware of what ACODECO can do for them.

 Does ACODECO’s claims system work perfectly? 

 “Absolutely not”, says Geerling.  “It is the usual Panamanian process- sometimes full of bureaucracy and frustration.  But after all, we chose to live and invest here, so why not brave the bureaucracy and take advantage of one of the best tools Panama gives its buyers? 

 It’s not for the fainthearted.  There are limitations in the process, and of course most foreigners (especially non-Spanish speakers) will probably want advice and assistance throughout the process.  Yet, many of my colleagues and I have taken clients successfully through the process- resulting in repairs or money from the developer.  By and large- and to no one’s greater surprise than my own- the process actually works!”

ACODECO’s mandate is to Protect and Preserve the Rights of the Consumer, a fairly broad scope of work covering anything from cases of price fraud to false advertising, to honoring product guarantees. 

However, in a speech given by ACODECO’s representative recently at the AmCham Real Estate Forum in Panama City, it was mentioned that nearly 70% of the cases ACODECO are currently handling pertain to the real estate industry. 

“It’s not a great commendation for developers in Panama,” says Geerling,  “but what we find interesting is that these cases are increasing.  People are sick and tired of being taken advantage of, and they’re making a statement: We’re not going to take it any more.”

Restrictions within the process include financial claim limits, and time limitations for making a claim- but options do exist even after those limits have been exceeded.

For more information, email: Gail.Geerling@SuccessInca.com or check out ACODECO’s website at www.acodeco.gob.pa

 

Notaries: Property Fraud is a daily battle

I have heard from readers about fraudulent land transfers, but up until now there has been no acknowledgement by government officials that there was even a problem of this kind. These two articles from La Prensa enlightens us to the fact that there is a serious problem in the notory system in Panama that extends into the public registry. I am unable to decern from this story whether it is corruption of officials or weaknesses in the system, but it is probably both. How does one protect themselves from this kind of larceny? We can only hope that the government officials follow through with their commitments to make the system more difficult to cheat.

From Monday

Few controls on the notaries and the Public Registry allows people to transfer houses and land illegally.

Rafael E. R. Berrocal
rberrocal@prensa.com

No property appears to be safe from a network of scam artists who have managed to get through a few checks of the Public Registry and the facilities offered by notaries.

So far, no evidence of the existence of employees in these institutions, but in the last three years have increased cases of sales of houses and land with false documents.

The original owners lost the title in the Public Registry and in most cases they hear when the new owner to claim it.

According to the fraud cases that have come to the judicial inquiry, points out that most problems have occurred in the second and tenth notary.

The Government of Panama had accepted the existence of the problem, but said they are cases of past administrations.

According to records with irregularities that have moved to the Public Prosecutor is prosecuting where they have identified at least 536 cases, in others 389.

On 3 August, the first Attorney Second Judicial Circuit of Panama, which holds nine other cases of crimes against the public trust committed by public documents, he informed the Government that it has found "many difficulties" upon request to notaries location protocols.

"These circumstances crippling our investigation, since this document is used to prove the crime, which in most cases involve fraudulent conveyance of property", underlined the Prosecutor II.

The cases reported demonstrate that there is a similar pattern of operation of these networks of fraudsters. This is the first step in the publication of the sale of the property in the print media.

Once the potential buyer is found, requesting the notarial certification of a power to lease the property with fake identity cards.

Once notarized the sale of the property, the next step seems to be easier.

In most cases, these purchases notarized smoothly pass the filter of the Public Registry where it is possible to make the change of ownership.

The general secretary of the Interior, Roberto Tejeira, said they are continuing the fraud cases that come to his office in search of records or notarized protocols to proceed with the complaint to the Attorney General.

But he agreed that much of the documents does not appear, complicating the task of those affected claim.

"We also found that past administrations notaries took the stamps and numbers of old scripts that can be provided for a sale false," warned Tejeira.

However, the official said that against the new notaries there have been no complaints, as the Government takes full accountability.

Some notaries have also adopted the digital verification system identification Electoral Tribunal to prevent tampering with ballots, but they are the minority.

The Press tried to know what actions are taking the new administration of the Public Registry to combat these scams, but there were no responses from their representatives.

Owners robbed

The most recent cases that have come to seek refuge in the justice show that it is not difficult for scammers to list a property of others. We also found that the largest number of scams has been in the capital city and in Chiriqui. In one of these cases are charged with Alexis Rojas, holder 4-102-1732, alleging that he sold a residence in Bethany for $ 100,001 days of work such as irregular Ash Wednesday this year. The original property owner, who asked that his identity was learned when someone claiming to be the owner of this asset.

In this case, forged identity card of the original owner of the residence to notarize the sale of land. This was the second time that Rojas had broken through the filter of the Public Registry was despite a warning of fraud in this institution. A Andrés Fereijdo also put your property for sale in Bethania in a national newspaper in December 2009. Fereijdo learned that since the property was in his name when he tried to make a personal transaction, his card had been forged and the alleged fraudster had received $ 117 000 for this sale.

The victim maintains a criminal kidnapping has not been resolved because the buyer also claims to own the same property. Professor Jaime Brid also fell victim to these scammers two months ago. In this transaction used the name of his father, now deceased, to donate land in Penonomé and a residency in Albrook, on behalf of a Colombian woman. Omar Perez was another surprise in September 2010, when a fraudster legalized the sale of land in Boquete de 130 hectares using the name of his grandmother died in 1931.

 

A very weak notary system

A letter from the Government of Panama to the College of Notaries Public of Panama, on 1 July, reveals that the authorities know that the notarial system lacks proper regulation to prevent fraud in the sale of properties.

"Protocols missing, defective, and no bells, registers of wills lost, stolen books, stamps, letterheads and numbering pages to make records" are part of the findings of a report submitted by the Government of Panama to the Ministry of Government.

The document suggested the alternative of appointing a committee to present draft legislation to regulate the function of attorney, but the mission did not make progress, as was known.

The Government argues that the proposed changes to the system of attorney must be the result of an in-depth consultation with different social and commercial entities involving this activity

From Tuesday

Past administrations certifying sales of properties with fake identity cards and names of deceased persons.

Rafael E. R. Berrocal
rberrocal@prensa.com

The Public Registry and Notaries agreed yesterday on something. Any property (house or land) can be completely safe from fraud.

Both parties agree that there are networks that are dedicated to the sale of property of others using fictitious documents of the original owners, managing attorney subverting the system and the Public Registry.

The number of cases is not formally counted, but only in the Government is under investigation over a thousand records to alleged irregularities committed by past administrations notaries, including fraudulent conveyances of property.

The Second Office in Panama another group handles complaints of this type, while others are just beginning the procedures in the Directorate of Judicial Investigation (DIJ).

Among the cases there are transfers of property of deceased persons with identification cards, cloning of deeds, and even former notaries are being linked to such crimes.

The president of the Association of Notaries and notary tenth, Ricardo Landeros said already taken concrete steps to curb this crime, but agreed that there is a formula to control it completely.

Landeros said that most notaries have adopted the system of data verification of the Electoral Tribunal, others have acquired fingerprint system, have canceled operations, with satellite offices of little recognition, and now demand the personal presence of both the seller and buyer of a property.

"The notaries of the present administration have changed and have a clean resume. Hopefully the new statistics to see how this crime has been reduced with the new controls, but we can not prevent someone turn the system, "said Landeros.

Yesterday, more than 10 people reported to this newspaper have been victims of fraud with their properties.

Alejandro Tiniacos is one of those people who said that in his legal fight to recover their property has sued a former notary first for his alleged involvement.

Domingo Barrios is one of those who fight legally, if necessary to regain ground in Columbus that was transferred using the identity of her deceased grandmother. The surveys proved that the signature of his grandmother in this transfer was false, but because many of the documents were lost, the case was declared prescribed. Today, Barrios has an appeal.

In most cases the recovery of these goods is also complicated, because the networks engaged in this crime do a double sales in the second purchaser is as a person who acted in good faith.

This is the case of a client's lawyer, Antonio González, where crooks to fake Herrera moved up writing two tracts of 900 meters in Bethany, the capital city.

With writing and notarized, the scammers managed to cross twice this property without the controls had activated an alert.

Been screwed by a developer? Who ya gonna call?

I get a lot of emails from readers asking me what action they should take against a developer or promoter who has taken their deposit and not started or completed a project. Unfortunately there are no clear laws protecting buyers from scams or from developers who's dreams turn to nightmares in Panama. I believe the buyers of Los Foros have taken the best approach which is to come together and file legal action in order to try and get retribution. To sit back and do nothing pretty much guarantees you will get nothing. I have no idea what is going on with Grupo Mall and don't want to accuse them of wrongdoing, but the fact that  there has been no work on the site for well over a year and they do not communicate any information to their buyers after numerous requests, certainly does not instill confidence. I certainly understand the challenges that developers are under getting finances for mega projects, but there is a correct way to handle such a situation. Go to these disgruntled buyers website to see the actions they are taking. Another website that may be of value to those who want to share their concerns about certain individuals and businesses in Panama is the Panama Scammers Forum.

Complaints against Panama developers on the rise

Several times a year La Prensa comes out with the reports of complaints against various businesses filed by consumers  and developers always lead the pack. Judging from email I get this is certain to increase as building are being delivered over the next year or so.

Machine translated from La Prensa:

Roberto Gonzalez Jimenez
rgjimenez@prensa.com rgjimenez@prensa.com

  The property business is still generating the most complaints in Panama.

In the first two months of the year, the Department of Settlement Authority Consumer Protection and Competition (acodec) received 87 complaints against companies in this sector, which represents 58% of the 149 complaints handled.

  Distance second from the property business is the sale of used cars (27 complaints) and dealerships (15).

  Most complaints against promoters were for breach of contract (31), return of deposits (20), breach of warranty (18) and hidden (5).

  The president of the Panamanian Institute of Law, Consumers and Users (Ipadecu), Giovani Fletcher, explained that contractual breaches go through the drafting and implementation of unfair terms, misleading advertising concerning the qualities of the projects, charges not agreed, amendments the size of property, failure to delivery dates and the setting of occupancy permits.

  Representatives of groups of developers have recognized that these practices can damage the image of Panama as the housing market, but consumers do not see that the authorities are giving the issue the attention it deserves.

"The central government administration is not necessarily getting into this subject, because they see it as one of the loads to be met by acodec" said Fletcher.

  Last year alone, the public entity resolved 188 of the 433 complaints that were filed against property developers.

  The acodec, which has always recommended to report any abuses, said that sometimes "can not give a more effective because it leaves the consumer's own case" or because certain claims are the responsibility of other officials.

  Recommendations

  Data on complaints against promoters were known a few days before the start of a new real estate exhibition in Panama.

  At these events, many citizens are attracted to good deals and sometimes do not keep the reserves needed to avoid unpleasant surprises. Ipadecu President advises consumers that before any commitment to close the contract subject to review by an expert and consult on acodec if the developer has received complaints.

It also suggests that not sign contracts in which the developer is given the power to solve unilaterally, it can be fertilizers or permitted to vary the size of the apartment and charge the customer in addition.

  Consumers should also require the exact date of delivery of the property and ensuring that the quality of materials and finishes will deliver the advertising and the contract.Acodec itself often involves a booth at fairs where they can meet the concerns of buyers.

31,486 American scientists against UN on global warming

Why am I continuing to harp on this subject? Because the U.S. is getting dangerously close to signing agreements that will force every man, women and child to pay a tax to breath and use energy. In essence the "human caused  global warming" cabal want's to redistribute wealth in a grand fashion and at the same time impoverish even more countries just emerging into the first world. There are many scientist who are against this conspiracy, but their voices are rarely being heard. The UN, mass media and most politicians drown out anyone who dares argue the facts. Most ordinary people have been brain washed into believing the modern world is at fault and don't even realize what it will cost them to support such a lie. Third world countries like Panama may be on the receiving end of this wealth distribution, so they tout the same ideology and will have their hand out.

Here is a link to a website that has a list of scientists and thier backgrounds who have signed a petition card like the one below. So the next time you hear someone say, there is a "consensus among all scientists" you can point out how that is just another lie. Thanks to my friend Ron de Haan for sharing so much of his time and knowledge on this important subject. If you are a scientist, maybe after examining the facts you would want to add your name to this growing list.

More fuel for the global warming meltdown

Just for educational purposes and to further stir the pot, I present another great video debunking the global warming myth. Ask yourself this; Why do so many politicians and government pay-rolled scientists continue to promote man-made global warming using admitted falsified data? Is it because they care about you or the planet? Maybe for some who are gullible or just plain misinformed, but for most it is about money, your money. This is a money making machine designed to redistribute wealth, your wealth and that of your children. Don't be fooled, look at the facts and then make up your minds.

Over 30,000 real scientists have risked their careers and signed a petition denying the facts of the global warming conspirators. As their theories fall apart with facts the conspirators continue to try and implement new laws and taxes to make you pay for "human kinds mistakes" that further their careers and/or agendas. Your only mistake will be believing these fools.

There are six short videos in this series and you can go here to view them all.

Former Panama President Arrested

This is the first time a Panamanian president has ever been arrested and is certain to make all of Panama's politicians and public office holders sit up and take notice. If it can happen to the bull, it can happen to anyone.

La Prensa this morning: SANTIAGO Fascetto
JOSÉ OTERO
panorama@prensa.com 

  Ernesto Pérez Balladares yesterday became the first former president of Panama who is deprived of his liberty for an alleged act of corruption: the Public Ministry (MP) ordered his arrest in a criminal case that accuses him of course money laundering.

  The precautionary measure dictated Ayú prosecutor Jose Prado, in charge of the Special Prosecutor's Organized Crime after the former president (1994-1999) refused to testify a second time.

  The extension of the investigation was scheduled for today, but the prosecutor and defense lawyers agreed and 24 hours ahead of diligence.

  Perez Balladares admitted to the prosecutor's office at 8:05 am and left guarded by National Police agents shortly thereafter.

  Apart from the prohibition to leave his home, he dictated the Prado Ayú barred from leaving the country.

  The charge of guarding the former head of state does not leave his home will be the agents of the Institutional Protection Service.  Ayú Prado-reported-not frozen the accounts or property of Perez Balladares.

  "We decided to take certain precautionary measures for procedural health record," said the prosecutor, after issuing the injunctions.

  The defense of Pérez Balladares, meanwhile, unveiled two new resources that add to the other seven: another habeas corpus before the Supreme Court and a reconsideration with the prosecutor for outlawing measures.

  The MP opened the investigation into alleged money laundering against former President Ernesto Pérez Balladares, after a series of investigative reports published in the press and that uncovered links Balladares gaming company with Lucky Games Ltd., the than the government of former president was granted a concession to operate direct free slot machine halls in 1996.

  That company turned steadily money to an account of society "paper" Shelf Holding Inc., which controls the former head of state.

  Ayú Prado, on the other hand, decided yesterday to prosecute seven others, bringing the number to 12.  The latter group reported "relates to people who have benefited from money Shelf Holding Inc.

  SEE Perez Balladares, under house arrest

Los Faros non-progress report

The $600 million mega project, Los Faros was announced back in 2006 with much fanfare and held up as additional proof that Panama was the choice of major project developers from around the world. With over 2000 apartments and a 200 room hotel, it was scheduled to be completed in 2009.

The name Los Faros, which in English ironically means "lighthouse", has apparently led investors into the dangerous reefs of the many partially completed or never started Panama projects. The Spanish company behind the project, Grupo Mall, was touted as a major player and a sure bet. I was in Spain at the residential tourism  Expo in 2006 where I witnessed the hype first hand as the glitzy marketing of the project was being touted mostly to European investors. Grupo Mall's booth was one of the biggest and most extravagant in this huge exposition with thousands of developments from all over the world. A model of the project showed the entire city with this mega structure dominating it. 

I made a post with photos about the project in April 2006 while at the expo and if you read the comments below the post, you will see how many promoters with "special connections and deals" responded to an inquiry to buy expressed by a reader. This will give you some idea of the hype associated with this project.

That was then and this is now.  Almost four years later a hole in the ground  sits where once grandiose dreams of lifestyle were to be made. Nothing more to show but scale models, computer renderings and unfulfilled contracts. Many people in good faith made down payments on apartments and now more than likely will not see a return of any kind as Grupo Mall apparently has no property in their name in Panama. They now tell investors that they were only the "marketing agent" and were hit by the word financial crisis. One needs only look at the dates promoted by the company (Start in 2006 finish in 2009) to see that if that were the case, the project should have been more than half completed when the crisis hit. Panama is littered with such projects and I would bet there are hundreds of millions  of dollars in deposits that will never be returned making Panama one of the biggest real estate debacles in the western hemisphere, and it ain't over yet!

Photo From La Prensa