According to a document compiled by the Anti-Corruption Prosecutor’s Office, a scheme of financial movements between Panama and the Banca Privada de Andorra (BPA) was identified. This scheme involved offshore companies used to channel payments linked to “bribes and kickbacks” for infrastructure projects carried out by the Odebrecht Group.
Among the key elements highlighted in the document are several companies used to mobilize funds. Kingstall Financial Inc., a company incorporated in the British Virgin Islands through BPA Serveis, was a central part of these operations. These movements allowed the Prosecutor’s Office to trace the connection between accounts in Panama and Andorra, a central point in the investigation that reflects the scheme used for money laundering. The goal was to hide the illicit origin of money and use front men or intermediaries to conceal the final beneficiary.
During the reading of the indictment in the Odebrecht money laundering case, being handled by the First Court of Liquidation of Criminal Cases, information was revealed about the money trail. This trail is based on international bank transfers and data provided by the judicial assistance of the Principality of Andorra. The document indicates that these bank transactions reinforce the theory that the account was controlled by the construction company Norberto Odebrecht to transfer funds and conceal the ultimate beneficiary. According to the document, the latter was considered a company used by Odebrecht as its “slush fund” to move funds intended for illicit payments. Part of these funds was sent to Panama as alleged payment for the purchase of three islands off Ocean Reef, a transaction the court links to a possible commission payment.
The document also details transfers from accounts belonging to Constructora Internacional del Sur SA in Panama to Klienfeld Services LTD in Andorra. A total of $4.9 million was moved through this company. Neecel Corp SA, represented by Mauricio Cort y García, received four international transfers totaling $2,999,900.
