20,000 affected by the DMG scandal
They are the unlucky fall- out victims of the recent arrest of David Murcia Guzman (head of DMG) whose garage was found to hold two Lamb...
They are the unlucky fall- out victims of the recent arrest of David Murcia Guzman (head of DMG) whose garage was found to hold two Lamborginis, two maseratis etc. etc.
Unlucky, but also slow to act, and motivated by greed as they failed to complain to the authorities when the expected big returns failed to appear.
Guzman aged 27 now in jail in his native Columbia awaiting trial on money laundering charges, was living the high life in a luxury Punta Pacifica apartment, and owned a yacht moored in Amador.
Questions have been raised about the ease with which G , took up residence in Panama three years ago. He was then 24, and a man from a poor background with little education already leading the multi millionaire life stile.
An analysis by Panama journalist Eric Jackson reveals that Panama's Banking Superintendent, Ministry of Commerce and Industry and National Securities Commission issued warnings that investors should be wary, but said that they have no power to deal with Ponzi schemes that take depositors' money and promise high returns.
Attorney General Ana Matilde Gómez pleaded that she couldn't act unless one of the previous two institutions forwarded her a complaint or an international warrant came out of the Colombian investigation.
One of the problems with legal action here was that not a single customer of Murcia Guzmán's DMG scheme, of which there were some 20,000 in Panama, doing business at branches in Panama City, David, Chitre and Colon had filed a complaint alleging that she or he was cheated.
The INTERPOL warrant from Colombia was forthcoming in a few days, and at 10:10 p.m. on November 19 he was arrested by Panamanian National Police in Chame and at 1:15 the following morning handed over to Colombian National Police chief Oscar Naranjo, who was standing by with one of his force's airplanes in Tocumen. There were no extradition procedures for Murcia Guzmán, who was expelled as an undesirable element under Panama's new immigration law.
The extent of the fraud is not known yet.