Panama: Two implicated in $261,000 financial fraud via stolen phone face electronic monitoring

Two men have been placed under precautionary measures, including electronic monitoring and a ban on leaving the country, as Panamanian authorities investigate a significant financial fraud scheme. Francisco Javier Cuevas Herazo and David Antonio Domínguez Macías are implicated in the alleged theft of $261,000, reportedly facilitated by the illicit use of data from a stolen cell phone.

The investigation, known as Operation Cenit, is being conducted by the Public Ministry. According to details presented during a hearing, the scheme involved approximately 160 fraudulent bank transfers. The judicial authorities are also exploring the possibility that as many as 130 other individuals may be linked to these operations, indicating a potentially widespread network involved in the fraud targeting Iris De Arco.

During the hearing, Judge Julieth Ubillus imposed the measures, which also include weekly reporting requirements and a prohibition on communicating with other individuals involved in the case or with the victim. The stolen phone is believed to have been the key instrument used to execute the financial operations that resulted in the substantial economic loss.

The Public Ministry continues its diligence to ascertain the extent of the fraud and the specific role of each person allegedly connected to the scheme. The investigation aims to uncover the full scope of the financial operations and bring all responsible parties to justice.