BDT Investments, Inc. joins as co-complainant before Panama's Anti-Corruption Prosecutor, accusing Juan Luis Bosch Gutiérrez of extended embezzlement for retaining Lisa, S.A.'s dividends as judicial depositary.

Factual Basis

The complaint identifies Bosch Gutiérrez as the judicial depositary appointed before the Eleventh Circuit Civil Court of the First Judicial Circuit of Panama in Case No. 7081-08. The starting point is the Official Notice that Bosch Gutiérrez addressed to the Eleventh Court on November 25, 2008, informing the court that Villamorey, S.A. had taken the necessary measures to comply with the sequestration order and that the dividend retentions corresponding to Lisa, S.A. were at the court's disposal. The complaint maintains that from that moment Bosch became constituted as depositary of those funds under Article 535(4) of the Judicial Code.

Noncompliance with the set-off order. Order 2277-2018, issued on December 5, 2018 by the Eleventh Circuit Civil Court and now final and enforceable, recognized that the dividends retained from Lisa, S.A. far exceeded the judgment amount in favor of Villamorey, S.A. and ordered set-off. Bosch Gutiérrez, as judicial depositary, was obligated to return the excess amounts. As of the date of the complaint, that judicial instruction remains unfulfilled.

Failure to file reports. The complaint emphasizes that Bosch Gutiérrez never filed any report on his management as depositary before the court where he assumed that role, and that the use, destination, or whereabouts of the retained funds remains unknown.

Criminal Classification

The complaint invokes Articles 338 and 341 of Panama's Criminal Code (embezzlement and misuse of public funds), applicable to Bosch Gutiérrez by virtue of Article 343(3), which extends crimes against public administration to depositaries of assets attached, sequestered, or deposited by public authority. The complaint asserts that the conduct meets the elements of tipicidad, unlawfulness, and culpability, as Bosch appropriated funds entrusted to him by reason of his office as judicial depositary.

BDT further invokes the reversal of the burden of proof under Article 257 of the Criminal Procedure Code for embezzlement and money laundering offenses, arguing that given the concealment of accounting books and financial statements, the burden falls on the accused to demonstrate the lawful origin of the assets.

BDT's Standing as Victim

The complaint grounds BDT's victim status in Article 79 of the Criminal Procedure Code, specifically subsection 3 (partners affected by crimes committed by those who direct or manage a company) and subsection 6 (any person who has suffered financial loss as a consequence of conduct violating criminal law). BDT requests admission as co-complainant under Article 90 of the Criminal Procedure Code, which governs concurrent complainants where more than one victim exists.

Evidence and Requested Measures

The complaint incorporates as documentary evidence all materials previously submitted and admitted by Lisa, S.A. in the criminal file, as well as an authenticated copy of Order 898-2022, issued by the Twelfth Civil Court on April 12, 2022, which certifies BDT's acquired rights. As expert evidence, it requests a judicial inspection of the accounting books and financial statements of Villamorey, S.A. and its registered agent, the firm Galindo, Arias y Lopez (GALA), to determine whether accounting records exist and, if found, to conduct a forensic audit.

Relief Sought

• Admission of the criminal complaint filed by BDT Investments, Inc.
• Recognition of BDT as a victim in the criminal proceeding
• Conduct of all requested expert examinations and any others the Prosecutor deems pertinent
• Admission and production of all evidence presented
• Upon conclusion of the investigation, request for formal indictment and subsequent conviction of Juan Luis Bosch Gutiérrez as perpetrator of the charged offenses, along with any other person found responsible
• Full restitution for damages and costs arising from the proceeding

Legal Basis

• Articles 338 and 341 of the Criminal Code (embezzlement and misuse of funds), applicable to the judicial depositary under Article 343(3)
• Article 257 of the Criminal Procedure Code (reversal of burden of proof regarding assets in embezzlement and money laundering cases)
• Articles 79 and 80 of the Criminal Procedure Code (definition of victim and obligation to inform victims of their rights)
• Article 90 of the Criminal Procedure Code (concurrent complainants)
• Criminal Code, Book Two, Title VII, Chapter III (financial crimes) and Chapter IV (money laundering)
• Title XI, Chapter I of the Criminal Code (document falsification)
• Law 32 of 1927 and complementary registered agent regulations (Executive Decree 468 of 1994, Law 23 of 2015, Law 129 of 2020, Law 254 of 2021)

Signatories

• Carlos De Icaza Munoz, Mgter., attorney for BDT Investments, Inc.