Friday, September 17, 2004

Costa Rica Digest, Sept. 17, 2004

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>>Costa Rica News Digest<<
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TODAY'S CONTENTS
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*News Digest


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NEWS DIGEST
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* More Revelations in Fischel Scandal

Yesterday, it was revealed that former manager of
the Corporación Fischel, Marvin Barrantes, received
almost $1 Million Dollars, all coming from the
Finnish loan.

Investigators discovered that the Sociedad O Fishel
R Panamá, issued a payment of $938.778 Dollars to a
private
bank account held by Barrantes at the Bac Panamá bank.

The account was very active, according to the records.
Large money transfers began on January 27, 2003, with
a $258.803, then $100.000 in February of that same year
and another $90.500 followed in March. In September
of 2003,
$352.000 was deposited to the account and another
$82.475 in
January of this year.

Harcourt Holdings, a company held by Walter Reiche
Fischel,
also deposited to the Barrantes account the sum of
$45.935.

Barrantes left the Corporación Fischel last month,
even though
it appears he was the best paid manager at the
pharmaceutical firm.


*Bolaños Gives Back the Money

A report in the daily Spanish newspaper La Nacion, tells
that former legislative deputy and former director of
the
Caja Costarricense de Seguro Social (CCSS), Gerardo
Bolaños,
who is also a partner in the law firm of former
president
Rafael Angel Calderón, gave back to the Ministerio
Público a
deposit certificate in the amount of ¢28.4 million
colones.

The money was on deposit for a term of one year and
equals the
sum of $90.000 Dollars and $62.000 Dollars, that were
received
by Bolaños and his wife, Ligia Céspedes, from
Harcourt Holdings,
a Panamanian firm held by Walter Reiche Fischel.

Bolaños told La Nacion that the devolution was part
of a deal he
made with the "Fiscalia" - the prosecutor's office.

Bolaños is currently under house arrest for his
involvement in
receiving funds from the Corporación Fischel with
respect to
the Finnish credit loan to the CCSS.

Bolaños said that the money is the "total" amount he
received
from Harcourt Holdings.

Former president Rafael Angel Calderón who also received
$440.500 from Harcourt said he respects the decision
by his
law firm partner, but he has not given thought to
returning
the money he received.

Calderón told news reporters waiting outside his
lawyer's
office, that "our circumstances are different. If don
Gerardo
did so, it is part of his strategy for a legal
defense. I
respect it."

Gonzalo Castellón, Calderón's lawyer, added that his
client's
case is different from the others involved in this
case. "Don
Rafael has not been indicted nor can he be considered a
'funcionario' (sic), thus the investigation should be
centered
if the origin of the money is legal or illegal".

*Fraudster Arrested in Panama

Panamanian businessman Thomas E. McMurrain has been
arrested
there on the strength of a U.S. district court
indictment
alleging he ran a fraudulent ponzi scheme from 1997
to 2000
in the United States.

The indictment said that McMurrain ran a chain of
pay-day
loan storefronts and induced people to invest in the
operation
with the promise of high interest.

The indictment says he spent nearly $3 million in
investor money
for unauthorized purposes, including personal
expenses and day
trading. The total loss to victims is $9 million,
said the
indictment.

In Panama, McMurrain ran San Cristobal Land
Development Inc.,
a company that sold land, mostly to foreigners, near
Boca de Toro
on the Caribbean coast.

Panamanian journalist Okke Ornstein alledged that the
San Cristobal
"noni plantations" were fraudulent, using misleading
advertising
and sales techniques. But, instead of the Panamanian
government
investigating the allegations, it supported
McMurrain's use of
outdated, draconian, slander and libel laws to
harrass the journalists
who were attempting to expose the fraud.

Such laws exist throughout Latin America, including
Costa Rica, and
are often used by the oligarchies in these countries
to shut up
anyone who objects to their crimes.



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