Son of Panama ex-president pleads guilty in US graft case

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NEW YORK, Dec 3 — Luis Enrique Martinelli, the son of Panama’s former president, pleaded guilty to money laundering Thursday in New York as part of a massive corruption scheme involving Brazilian construction conglomerate Odebrecht, US prosecutors said.Martinelli admitted conspiring with his brother Ricardo of establishing offshore bank accounts “to receive and disguise over US$28 million (RM118 million) in bribe proceeds,” the Department of Justice said in a statement.The 39-year-old son of ex-president Ricardo Martinelli, acknowledged that some of the money was used to buy a yacht and a condominium in the United States, according to DOJ.Sentencing for Martinelli, who was extradited to the United States just weeks ago from Guatemala, is scheduled for May 20, 2022.His brother remains in custody in Guatemala, awaiting extradition. Both were arrested there in July while attempti…