Ricardo Martinelli, who served as Panama's president from 2009 to 2014, has received a prison sentence exceeding 10 years for money laundering. The 71-year-old's political comeback aspirations for the upcoming general elections have been significantly impacted by this ruling. The case, dubbed "New Business," centers around the 2010 acquisition of a publishing company that owns several national newspapers.

The prosecution argued that companies awarded lucrative government contracts during Martinelli's presidency channeled funds through a shell corporation to facilitate the purchase of the publisher. This involved a complex web of international money transfers amounting to $43 million. The intermediary company used in these transactions was named "New Business."

The former president, who had recently been chosen as his party's presidential candidate for the May 5 election, was handed a 128-month sentence and a substantial fine. Prosecutor Emeldo Márquez had initially sought the maximum penalty of 12 years. Martinelli has consistently denied any involvement in illicit activities, claiming he is a victim of politically motivated prosecution.