Martinelli plans fast retrieval of fraudulent sale land

(newsroompanama.com) Over 30 hectares of land  “fraudulently” sold to a relative of a former president  will be “promptly” retrieved and sold to investors, says  Panama's President Ricardo Martinelli. The land  in Punta Chame was sold to Rudolf Espino, uncle of former president Martin Torrijos in 2004.

"The state will retrieve the land and then sell lots to local  or foreign investors who will build condominiums or hotels," Martinelli said during a Friday, September 3, visit to the province of Herrera.

He said that the government plans on developing the infrastructure in the area, where 38 hectares of mangroves were destroyed, leading to criminal charges before the sale price scandal erupted.

The new infrastructure will to allow investors to cash in on the area's proximity to the ocean. increase the value of the property and promote tourism in the area, said Martinelli.

The government is seeking to void the sale because it was not endorsed by the Comptroller General.

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Original Source: http://www.newsroompanama.com/panama/1638-martinelli-plans-fast-retrieval-of-fraudulent-sale-land.html
Date Retrieved: September 4, 2010