Cuba
February 01, 2019

From Panama to Spain: Commercial Networks of Cuban Front Companies Abroad

 

 

Executives and agents of Cecoex S.A., a Panama-based firm sanctioned by the US as a front organization for the Cuban government, hold similar posts with other companies domiciled in Panama, as well as Spain and the British Virgin Islands.

The Cuban government has registered firms in Panama and beyond to skirt the US embargo and conduct transactions in US dollars, according to media reporting analyzing the Panama Papers released by the International Consortium of Investigative Journalists.

Raul Morejon Rodriguez and Manuel Gutierrez Vega, who have power of attorney for Cecoex S.A., hold executive positions with Technicholding, Inc. and Treisa S.A., according to Panamanian corporate documents.

Kharon research

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