Criminal Complaint

On October 8, 2024, BDT Investments Inc. filed a criminal complaint before the Anti-Corruption Prosecutor’s Office against Juan Luis Bosch Gutiérrez for alleged offenses under Title X, Chapter I of the Panamanian Criminal Code (offenses against public administration, extended to private actors acting as judicial depositaries). BDT asserts standing as a victim because it is now the judicially recognized successor to Lisa, S.A.’s shareholder rights in Villamorey, S.A. The filing alleges Bosch misappropriated or unlawfully retained dividends exceeding $120 million, using his role as Villamorey’s administrator, legal representative, and court-appointed judicial depositary.

The complaint cites numerous grounds: Bosch’s 2008 acknowledgment that Villamorey would retain dividends due to Lisa under the sequestration order; his ongoing failure to submit depositary reports; the 2018 final order confirming funds owed; corporate records suggesting concealment of accounting information; and the legal obligations of GALA, Villamorey’s resident agent. BDT argues that Bosch diverted funds for his own benefit and for third parties; that the funds’ whereabouts remain unknown; and that Bosch’s conduct satisfies the legal elements of misappropriation, unlawful use of assets, and breach of fiduciary obligations applicable to judicial depositaries under Articles 338, 341, and 343. BDT requests admission of the complaint, authorization of inspections and forensic audits, and ultimately, referral of Bosch to trial and conviction.