Panama bank linked to Martinelli faces liquidation

Banco Universal, whose principal shareholder is Felipe "Pipo" Virzi, one of the Inner circle of Panama’s ex-president, Ricardo Martinelli, could be facing liquidation.

The bank is under administration, in part, because it failed to freeze accounts linked to Virzi as requested by prosecutors in a corruption allegation. Firzi is currently in detention.





Source: Newsroom Panama