Panama President faces corruption charges

Panama's President Ricardo Martinelli will be indicted and prosecuted in Italy on extortion and corruption charges as soon as he leaves office later this year.

The revelation from sources at the Italian Public Ministry is the latest development in a convoluted tale of multimillion-dollar corruption, extortion, and sex scandals that involve Martinelli, former Italian President Silvio Berlusconi, and a number of others.

The accusations include low-ball bids for a construction project to upgrade the Panama Canal, which is undergoing an expansion and modernization that includes a new and bigger set of locks.

Source: Newsmax