Alberto Diamond R, who was the Superintendent of Banking in the administration of former Panamanian President Ricardo Martinelli, and who disappeared after he vacated his office, has surfaced, oddly enough, at a banking regulatory conference in the Dominican Republic. Ex-Superintendent Diamond, who as senior banking regulator in Panama, failed to charge a single bank in Panama with money laundering during his tenure, and allegedly received bribes to ignore the red flags of money laundering at several local banks, even when clear and convincing evidence was presented to him. he actually bragged that he was instrumental in bringing in $17bn into the banks, from Venezuela, of dodgy funds.
Diamond, who was clearly unqualified to hold the senior banking regulator job, as he had no training of experience for the position, is a close relative of Ricardo Martinelli, and it is believed that he was appointed solely for that reason. He relocated to El Salvador after leaving office, as his activities there appeared in local media, but his current whereabouts are unknown. A criminal investigation was initiated at that time in Panama, but the outcome is not known. Some sources in Panama claim that criminal charges are pending.
The title of the lecture he presented at the conference, The Importance of Ethics in External Audits in the Financial and Banking Intermediation Entities, indicates that Dominican regulators must have blinders on, to invite a known former corrupt official, to speak on ethics. His appearance is a cruel joke upon the people of the Republic of Panama, who now must deal with their country's international reputation as a centre for money laundering, which Diamond not only failed to deal with, but he actually encouraged it and then bragged about his accomplishments about bringing dirty money to Panama banks.
Chronicles of Monte Friesner - Financial Crime Analyst
Contributed by Kenneth Rijcok - Financial Crime Consultant