Monday 14 June 2021

Costa Rica’s Opposition Alleges Dirty Political Campaign Donations

A legislator in Costa Rica brought up explosive accusations against two political parties during a debate on campaign reform. Jeanette Ruiz from the Citizen Action Party (PAC in Spanish) has insinuated that Liberty Reserve, a controversial money transmitter based in Costa Rica, donated money to fund the electoral campaigns of the Libertarian Movement and the powerhouse National Liberation Party (PLN in Spanish).

Liberty Reserve and its principals are currently facing an indictment that the United States categorizes as the largest money laundering operation in the world. The company’s operations were based in Costa Rica, but two of its principals were arrested in Spain as they landed in a flight from Morocco. Liberty Reserve was formed by two foreign businessmen who became naturalized citizens of Costa Rica.

Although Liberty Reserve became active circa 2006, the company had been around since before then. By 2009, the company was moving millions of dollars each year in a system that involved the exchange of digital currency in an online platform. The U.S. Attorney for the Southern District of New York claims that Liberty Reserve laundered more than $6 billion by operating as a sort of PayPal for crooks. Hackers, multilevel marketing swindlers, drug traffickers and other law breakers allegedly flocked to Liberty Reserve due to their implied anonymity and lax “Know Your Customer” practices.

- Advertisement -

During a debate session on limiting contributions by the government of Costa Rica towards a common fund that political parties can use in their campaigns, legislator Maria Jeanette Ruiz made her accusation against the social democratic PLN party and the Libertarian Movement.

“These parties received campaign donations given by a law firm that has since disappeared. They made donations to these parties… So, is that what you want? To keep creating these loopholes?”

Legislator Ruiz referred to the loopholes that could emerge by reducing the government’s contribution to all political parties from 0.19 percent of the country’s gross domestic product down to 0.11 percent. Powerhouse parties such as the PLN are well-heeled thanks to their strong connections to powerful people in Costa Rica who share the social democratic ideals of the party; thus, the PLN does not need to tap into the general campaign fund too much. Several other political parties in Costa Rica, however, are tiny and need all the help they can get.

Legislators who argue against lowering the government’s general contribution to electoral campaigns fear that limiting these funds could push political parties to seek alternative, and not altogether ethical, form of financing. Legislator Ruiz says that she has hard evidence that Liberty Reserve made these donations at a time when authorities in Costa Rica demanded that the company obtain a money transmitter’s license. The company’s main office was once located in the Forum II corporate park near Lindora.

Liberty Reserve did not want to open their books the way money transmitters in Costa Rica are required to, and thus they changed their corporate structure to remain a digital currency facilitator. The company allegedly obtained profits of about $100 million, which were kept in several accounts -many of them in the Agrarian Credit Bank of Cartago. These funds were eventually transferred to Cyprus prior to the 2012-2013 banking crisis in that nation.

- Advertisement -

Prosecutors and the Supreme Tribunal of the Electorate will investigate the allegations made by legislator Ruiz.

Source: News.co.cr, CRHoy.com

- Advertisement -

FACT CHECK:
We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

Ricohttp://www.theqmedia.com
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

[BLOG] Costa Rican Electric Company – General Maintenance Procedures

During my fifteen plus years of living in Costa Rica, I...

Heliport, Money and Weapons in Costa Rica

Following reports by residents of Las Asturias de Pococí about flyovers...

MOST READ

On Monday the vehicle restriction will change, again

QCOSTARICA - In times of pandemic, things change constantly, especially when it is necessary to tighten the belt to reduce the contagion of covid-19. The...

Today’s Vehicle Restriction: June 10, “ODDS”

Today, Thursday, June 10, only ODDS can circulate. The measure is countrywide and applied between 5:00 am and 9:00 pm, save for those under the...

Direct flight will connect Guanacaste with Austin starting in November

QCOSTARICA - American Airlines announced that starting November 2, 2021, it will offer a direct flight between Austin, Texas and the Daniel Oduber International...

Are you fully vaccinated? You can now enter Spain

Q TRAVEL - Travelers from the European Union or third countries, including Costa Rica, who have fully been vaccinated, will now be able to...

Which countries could follow El Salvador by making it legal tender?

Q24N - El Salvador may be the first country to adopt bitcoin as legal tender, but recent developments suggest that it might not be...

Nicaragua government assures that detainees violated one of the Ten Commandments

TODAY NICARAGUA – The vice president of Nicaragua and First Lady, Rosario Murillo, assured that those who feel persecuted are for the crimes they...

Vaccine Tourism – A Practical Guide

By Amy Gdala, Guest Contributor - The US has a surplus of vaccines, while Costa Rica is struggling to supply sufficient numbers to citizens...

Quepos flooded by heavy rains (Photos)

QCOSTARICA - The residents of the Central Pacific endured heavy rains Monday afternoon, June 7, hardest hit the town of Quepos, where the streets...

Carlos Alvarado describes calls reprehensible the persecution of Ortega against opponents in Nicaragua

QCOSTARICA - The President of Costa Rica, Carlos Alvarado, described the persecution of Nicaragua President Daniel Ortega against opponents as reprehensible after the government...

WANT TO STAY UP TO DATE WITH THE LATEST!

Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.