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Trying to untangle the web

Víctor Arosemena/la prensa www.prensa.com

secretive: Colombian businessman David Murcia Guzmán used a variety of shell corporations to hide various transactions. Authorities think that, at the heart of his operations, he was laundering money for drug dealers.

David Murcia Guzmán, who last week was deported to his native Colombia, where he faces money laundering charges, built a network of companies in Panama in less than three years that allowed him to live a luxurious lifestyle.

An investigation conducted by La Prensa found that one corporate entity, Grupo DMG Inversiones Inteligentes, was used by Murcia to rent a luxury apartment in the Miramar Plaza on Avenida Balboa.

While Murcia was listed as the president and legal representative of that company, the directors and other officials were assigned to other corporations.

One of those, DMG Commercial Corp., appears on the lease of the apartment. That entity also lists other corporations as its board of directors.

The corporations were used by the Colombian businessman to hide his business dealings, which involved gathering money from investors to which he promised returns of as much as 150 percent.

Attorney General Ana Matilde Gómez, who last week ordered an investigation into the operations of DMG in Panama, said that it would not be easy to untangle the web of companies.

The investigation in Panama is expected to focus on allegations of money laundering, which is the charges that have been filed against Murcia in Colombia. Authorities think that Murcia was using his businesses to launder money for drug dealers.

When he began his businesses in Panama, Murcia retained the services of two law firms, Garrido & Garrido and PMC International Legal Services.

Garrido & Garrido partner Jorge Garrido was shot outside a Calle Uruguay nightclub nine days ago in an apparent assassination attempt. So far, he has not cooperated with police on the shooting.

The head of the other law firm could not be contacted by La Prensa.

But that firm was apparently used by Murcia to broker a deal that would have connected DMG to a company involved with Colombian drug dealer Juan Carlos Ramírez Abadía, who was taken into custody earlier this year in Brazil.

DMG appears connected to the Colombian business through Amazing Asset Inc. Company officials of Amazing Asset are also part of PMC International Legal Services, which created DMG's Panama operations.

Amazing Asset was dissolved in November 2007 by Garrido & Garrido.

Now that Murcia has been arrested, others seem to be trying to distance themselves from him.

The company Comercializadora Virtual, which is among those that belonged to Murcia, listed its registered agent as Ortega-González & Asociados and its president Luis Antonio Espinosa. According to records, however, both entities resigned in the past week

By sloopskipper on Nov 24, 2008, 04:59 in Politics & the war.