Panama's Ricardo Martinelli vows to run for presidency despite recent money-laundering conviction

Panama's former President Ricardo Martinelli waves to supporters during a campaign rally, in Panama City, Saturday, Feb. 3, 2024. (AP Photo/Agustin Herrera)

PANAMA CITY, Panama — A former president convicted of money laundering defiantly proclaimed his intention Saturday to run in Panama's upcoming presidential election despite facing a possible ban on seeking office.

Ricardo Martinelli was officially presented as the candidate of the Realizing Goals Party at a rally in Panama City where his supporters waved blue and white flags and chanted that they will stand with him in his struggle with Panamanian officials.

In a speech, the former president and businessman said he was not guilty of any crimes and accused authorities of persecuting him as the country gets ready to hold elections May 5.

"The only crime I have committed is to defend the people of Panama, to defend our country from those who want to steal hope," Martinelli said.

Martinelli, a conservative known for investing heavily in infrastructure projects, was Panama's president in 2009-2014.

In July, he was sentenced to 10 years in prison for money laundering. Prosecutors accused him of using undeclared funds from companies that had contracts with Panama's government to buy a media company that owns several newspapers in the country.

Martinelli, who owns a large supermarket chain, says he bought the media company with his own funds. He has been free while appealing the conviction, though it was upheld by Panama's Supreme Court on Friday.

Panama's constitution bans anyone with a conviction carrying a prison sentence of five or more years from running for office. The nation's electoral tribunal will now have to rule whether Martinelli is eligible to participate in the election, where he is one of the most popular candidates.

In a recent poll by EcoAnalitic, about a third of those surveyed said they would vote for Martinelli, giving him a nine-point lead over his closest rival, Martin Torrijos.

Martinelli has been involved in several corruption cases since he left office in 2014. Last year, the U.S. government barred him and his immediate family from entering the country, alleging he had been involved in "significant" corruption.