Politics Economy Country 2026-02-05T07:14:55+00:00

Witness Denies Link Between Odebrecht and BPA

A former bank employee stated in court that the financial institution never had direct ties with the Brazilian construction company, adding that the firm was not a client and contacts were limited to general discussions.


Witness Denies Link Between Odebrecht and BPA

During Wednesday's session, witness Juan Cejudo Peña, a former official of Andorra's Private Bank (BPA), affirmed that there was never a direct relationship between that financial entity and the Brazilian construction company Norberto Odebrecht. BPA never had Odebrecht as a client. At the prosecutor's inquiry, Cejudo Peña stated that the company was not a client of the bank. He explained that the only recorded contact was limited to approaches by the construction company's executives to present the convenience of conducting operations through legal financial structures in that country. He also specified that the bank conducted annual external audits to oversee its operations, so during the investigated period (2009-2014), these controls should have been executed normally. Defense highlights the value of the testimony. According to lawyer Alma Cortés, the declaration confirms that the BPA never handled Odebrecht accounts and that the confusion arose from letters sent by a U.S. commission, which—she indicated—were later revoked as they were linked to specific cases. The jurist emphasized that these statements do not mention Panamanian companies or directly question the construction firm, reiterating the non-existence of a financial link. Compliance officer backs the version. The testimony was backed by Santiago de Roselló Piera, former compliance officer of Andorra's Private Bank, who stated that his department did not detect irregularities in accounts associated with Odebrecht. He also explained that when accounts linked to politically exposed persons (PEPs) are identified, oversight controls are strengthened to ensure regulatory compliance. No economic harm to the state. Both former employees concurred with the stance of the Public Prosecutor's Office and the Court of Accounts of Panama: there is no record of economic harm caused by the construction company to the state, so there would be no predicate offense. A letter signed by the acting secretary general of the Court of Accounts, Gustavo Bonilla, certifies the absence of property damage, weakening the money laundering theory linked to the case. Donations and judicial schedule. Lawyer Carlos Carrillo has maintained that an attempt is being made to criminalize properly substantiated donations to link his client to the investigation. Prosecutor Ruth Morcillo indicated that she hopes to begin the phase of arguments on Wednesday, February 11. Odebrecht case enters a key phase. The Odebrecht case hearing in Panama continues in the stage of testimonial and expert evidence. She reiterated that these contributions were not received during the 2009-2014 presidential term but during the electoral campaign period, in accordance with the law. For this Thursday, the appearance of four people—three experts and one witness—is expected as part of the judicial schedule.

Latest news

See all news