DAVID MURCIA GUZMAN PLEADS GUILTY TO MONEY LAUNDERING IN USA >
FROM THE -
JOURNALS of Monte Friesner >
Financial Crime Consultant for WANTED SA >
Wednesday November 24, 2010 >
WANTED SA has confirmed last night that David Murcia Guzman who masterminded the massive Ponzi scheme in several countries including the Republic of Panama and was the beneficial owner of the corporations operating under the names of DMG pleaded guilty on Tuesday November 23, 2010 to Conspiracy of Committing Money Laundering according to the laws of the USA.
Murcia who portrayed himself as a modern day "Robin Hood" who rose from "rags to riches" story with fast cars, beautiful women and a trail of broken promises and tears as his massive Ponzi Scheme unfolded in Colombia and abroad. Murcia and his partners spent the money on high living, which came to an end in Panama in 2008 when Law Enforcement in Panama arrested Murcia.
David Murcia Guzman who is at present in custody in New York after being extradited from Colombia in 2009 has been fully cooperating with the US and declares that the money was never derived from any form of drug trafficking as was alleged by the Government of Panama, but more so of the Ponzi Scheme. Murcia also claims that many of the details concerning the transfers of the money was never known to him but was controlled by his partners.
The Colombian newspaper, citing the attorney Dagoberto Charry, stated that, "Murcia claims that Margarita Pabon, Carlos Espionisa and others who are still under investigation actually operated the Ponzi and made purchases of massive amounts of real estate through firms in Panama. Murcia also claims that several banks and also officials in Panama benefited and profited in partnerships with him”.
The laundering of proceeds of the massive amount of money carries a penalty term of 10 years in the Federal Prison in the USA; however, the lawyers for Murcia stated that the reduced sentence of five years is one that the Government will recommend for Murcia. Murcia has already served time which will be credited to him therefore he is expected to serve another three years and be released in the USA.
At present the sentencing is scheduled on February 2011; however, Murcia is still cooperating in other issues with the Government & Law Enforcement in the USA who has implicated several renowned business people and banks in Panama, Colombia and other countries.
Margarita Pabon and William Smith are in custody in the USA and the investigation continues. Pabon who was the lawyer for DMG and was actually the party who managed all the operations secreted large amounts of money with her husband through other countries are facing long term prison sentences in the USA.
David Murcia Guzman who was arrested in Panama in November of 2008 faced two processes here: one for money laundering in Panama, for which he was acquitted last September, and another for fraudulently operating a financial scam in which DMG was taking money for investments from individuals in Panama.
(More to follow on this story as it unfolds)
WANTED SA thanks to the Associated Press who contributed to this report and all the Parties, Press, Law Enforcement and Securities forces who have contributed to this article and their sincere opinions and statements.
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