Resolution

The Deputy Prosecutor of the Investigation Section of the Anti-Corruption Prosecutor's Office of Panama's Procuraduría General de la Nación ruled on the evidentiary request filed by attorney Carlos De Icaza Muñoz on behalf of Lisa, S.A. in the criminal investigation into the alleged misappropriation of dividends owed to Lisa, S.A. as a shareholder of Villamorey, S.A. The resolution partially grants the requested investigative measures, ordering the production of financial records while denying requests the Prosecutor deemed redundant or premature.

Complainant's Request

Lisa, S.A. made three specific requests. First, that the Prosecutor order Villamorey, S.A. and, alternatively, the law firm Galindo, Arias & López (GALA), its registered agent, to produce accounting books, financial statements, and related documentation for the period 2019 through 2024. Second, that if production failed, an on-site inspection be conducted at the offices of Villamorey, S.A. or GALA to examine the financial records. Third, that if accounting records exist, a forensic audit be ordered to establish the magnitude of the alleged illicit acts and the amounts concealed from Lisa, S.A.

Prosecutor's Analysis

The Prosecutor grounded the analysis in the broad scope of evidentiary admissibility under Panamanian criminal procedure, noting that only evidence deemed irrelevant, inconducive, repetitive, superfluous, or illicit may be excluded. On the document production request, the Prosecutor found it appropriate because the investigation originates from the alleged improper retention of dividends belonging to Lisa, S.A. in its capacity as shareholder. On the on-site inspection, the Prosecutor determined it served the same purpose as the production order and was therefore unnecessary as an independent measure. On the forensic audit, the Prosecutor considered it prudent to defer the request until the financial records from Villamorey, S.A. are received and can be evaluated.

Ruling

• Grant the request to order Villamorey, S.A. and, alternatively, GALA to produce accounting books and financial statements for 2019 through 2024
• Deny the request for an on-site inspection of Villamorey, S.A.'s or GALA's financial records
• Notify the parties of the decision

Legal Basis

• Articles 22, 25, and 220 of the Political Constitution of Panama -- fundamental guarantees and protection of property rights
• Articles 3, 5, 10, 14, 19, 68, 70, 73, 93, 98, 272, and 273 of the Criminal Procedure Code -- provisions governing the Public Prosecutor's investigative powers and the conduct of evidentiary proceedings

Signatories

• Mileyka Espinosa Vargas, Deputy Prosecutor of the Investigation and Case Monitoring Section of the Anti-Corruption Prosecutor's Office