32 Facts About Ricardo Martinelli

Ricardo Alberto Martinelli Berrocal was born on 11 March 1951 and is a Panamanian politician and businessman who served as the 36th President of Panama from 2009 to 2014.

In 2024, Martinelli was sentenced to ten years in prison for embezzlement of public funds and money laundering related to his use of public money to buy several Panamanian media outlets in 2010.

Ricardo Martinelli was implicated in several other corruption cases during his presidency ; as of February 2024, he is facing several trials.

Ricardo Martinelli's father is of Italian descent, and his mother is of Spanish descent.

Ricardo Martinelli completed his secondary education at Staunton Military Academy in Staunton, Virginia, in the United States.

Ricardo Martinelli began his career as a credit officer at Citibank in Panama.

Ricardo Martinelli was the president of the Democratic Change party, which he formed in 1998.

Ricardo Martinelli was the leader of Democratic Change and presidential candidate in the 2009 general election.

Ricardo Martinelli had the support of the Alliance for Change, a group of political parties that includes his own Democratic Change party, the Panamenista Party, the Nationalist Republican Liberal Movement, and the Patriotic Union Party.

Ricardo Martinelli was helped by strong support from the business community.

Ricardo Martinelli's victory was an exception to a trend of victories for left-leaning Latin American candidates.

Ricardo Martinelli introduced a number of measures designed to alleviate poverty, including a $100 monthly pension for the elderly, an increase in the minimum wage, and subsidies for students to meet the cost of uniforms and supplies.

Ricardo Martinelli increased the minimum wage, making it the highest in Latin America.

Ricardo Martinelli implemented measures to help Colon, an impoverished city on the Gulf Coast.

Once during his first year in office, Ricardo Martinelli proposed and signed into law tax reforms to simplify filings, reduce rates, and improve collection.

Ricardo Martinelli had designated the completion of this agreement as his top priority upon taking office.

Ricardo Martinelli oversaw, the approval of a comprehensive Association treaty with other regional countries and the European Union.

Ricardo Martinelli undertook efforts to strengthen the rule of law in Panama and to create greater transparency in its institutions, this had some success.

The Fitch upgrade was described as "a victory for conservative President Ricardo Martinelli, who has pushed two tax reforms through Congress since taking office".

Ricardo Martinelli's policies contributed to credit upgrades but robust increases in foreign direct investment.

Ricardo Martinelli has been criticized in the local and international media.

Ricardo Martinelli sought to reduce the time period before the president could run for re-election though he withdrew when it proved unfeasible.

Ricardo Martinelli was accused of tampering with the Supreme Court.

Critics charged that Ricardo Martinelli had requested the extradition to turn public attention away from administration scandals, an accusation denied by Panamanian government.

Additionally, Ricardo Martinelli has proceedings open for espionage and telephone interception of more than 150 people during his mandate, most of them opponents.

On June 12,2017, Ricardo Martinelli was arrested at Coral Gables in south Florida after a provisional arrest warrant issued by the US Justice Department in response to a request from Panama and was set to appear on Federal Court.

In May 2017, Interpol issued a red notice for the extradition of Ricardo Martinelli, installed in Miami.

Ricardo Martinelli was arrested in Miami by US Marshals on June 12,2017, to face extradition to Panama.

Ricardo Martinelli was extradited to Panama on June 11,2018, to face the wiretapping charges.

Ricardo Martinelli is suspected to have hired a private security outfit in Mallorca, Spain, to spy on his lover while she was there in 2020.

Ricardo Martinelli's conviction was upheld by the Panamanian Supreme Court on February 2,2024, making him ineligible to run again for president in elections that he wanted to contest later in the year.

Ricardo Martinelli was presented with the Citation of Distinguished Alumnus award and was made an official ambassador of the State of Arkansas by Governor Mike Beebe.