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Financial offshore tourism in Panama
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Why the smart money stays away from Panama's crime-ridden financial sector.
Bananama Republic (https://www.bananamarepublic.com/tag/coacecss/)
Why the smart money stays away from Panama's crime-ridden financial sector.
COACECSS hasn't even been dismantled yet, but Gilbert Starub & Co are already on it with a new company, Sentinel Capital Services, selling yet more shadowy offshore certificates of deposit.
The liquidation of COACECSS is not the result of their shoddy management and ties with financial criminals, but of a vicious yet unspecified campaign, the directors claim.
The gringos are coming to put out the fire on Cerro Patacon, but toxic smoke still hovers over the COACECSS toxic assets in the banking district. - UPDATED
The shenanigans of our beloved president Ricardo Martinelli, in his indefatigable drive to promote Panama as a business heaven for financial shysters, have produced accomplishments not seen since Noriega.
MasterCard has pulled the plug on Pronto Cash, and at the same time it turns out that Monte Friesner and offshore crook Gilbert Straub are circling COACECSS, a credit union that is in trouble.
In case you missed it: The Panamanian authorities have launched an assault on Pronto Cash, the financial firm of Monte Friesner, his wife Tatiana Nazarova and lawyer Herbert Young.