judicial

DMG offices shut down

Officials say the action was taken to try and recover the assets of investors.

Meanwhile, DMG founder David Guzmán Murcia was captured and turned over to Colombian authorities.

Víctor Arosemena/la prensa

shuttered: The government has ordered businesses associated with DMG closed pending the outcome of criminal investigations of the firm’s owner in both Panama and Colombia.1121391

The Ministry of Trade and Industry yesterday ordered the DMG Group to cease operations of its companies in Panama.

The move came as the Public Ministry announced that it was investigating whether the company was used to commit crimes by its owners and partners.

Minister of Trade and Industry Gisela Álvarez said that the measure seeks to protect consumers, and that the government is considering seizing the company's assets and resources to protect investors.

Álvarez said that action had not previously been taken against the company because DMG was operating with a license for product marketing and advertising, and there were no complaints from its customers.

However, the Superintendency of Banks has issued a warning to consumers urging them to avoid investing in the company. Customers who are affected by the operations of DMG can report their cases to the Superintendency of Banks' Customer Service Department.

This week, Colombian authorities asked Panama to extradite the founder of DMG, David Guzmán Murcia. Murcia was captured Wednesday evening and turned over to Colombian authorities.

Murcia is wanted in Colombia on charges of money laundering and running a pyramid scheme in which investors were promised returns of more than 100 percent on their money.

The collapse of the pyramid schemes has caused numerous problems in Colombia, sparking widespread protests from investors who lost a great deal of money.

Attorney General Ana Matilde Gómez said that Murcia could also face charges in Panama, and that the penalty for running a pyramid scheme is between eight and 15 years in prison.

The AG's Office has opened an invesigation into Murcia's activities in Panama, but so far has not uncovered any criminal activity.

As he was being transferred from police custody to Immigration authorities, Murcia said that he plans to, “continue to work as a company” in Panama. Police are still looking for Murcia's wife and mother, who are also wanted by Colombian authorities, and who are believed to be in Panama.

Murcia lived here full-time, renting a luxury apartment in Panama City.

Investigators raided DMG's four offices in Panama yesterday, which are located in Edison Plaza, El Dorado, Herrera and Chiriquí.

Several dozen customers of DMG went to the offices demanding that their money be returned to them.

Mariela Bonilla, a DMG client for eight months, explained that after learning about the arrest of Murcia, she was concerned that her $500 investment was in danger.

Among the list of clients of DMG are government employees and private businesses, and some estimates are that some individual investors deposited as much as $130,000 with the enterprise.