Quintin Sponagle - Operating Several Online Businesses in Panama
Sunday, May 02 2010 @ 03:43 PM EDT
Contributed by: Don Winner
Anyway, as it always happens, since I first published the original story about Quintin Sponagle, the guy who victimized 178 members of his own church and family to steal about $4 million dollars in a Ponzi scheme, I have received a bunch of emails and calls with additional information on his activities here in Panama. For example, he moved to Panama in 2006 when things got too hot for him in Nova Scotia. He apparently used the stolen money to establish several offshore corporations here in Panama in an attempt to cover his tracks - for example WATERNISH TRADING, INC. which is advertised as "C/O Sovereign Management Services, Avenida Ricardo J Alfaro Edificio Century Tower, Panama City, Panama, Panama, 260-4524." That leads to a company called e-pharma24.com, and from there you can branch out into a whole network of online pharmaceutical companies all apparently owned by the same group and interconnected, but under a lot of different websites and operating names. This all ties back to another Panamanian Corporation called Miriad Inc.. Both Waternish Trading Inc. and Miriad Inc. have same resident agents and subscribers - Aknia Chi Pardo and Marga Quintanar de Calderon. If you then do a Google search on those two names, you will see how they are involved in literally dozens of companies, and their names pop up again and again on Internet forums of people trying to recover their money. Therefore, they are likely just setting up front companies for guys like Quintin Sponagle who are trying to hide behind a complicated web of offshore Panamanian corporations. And why would Quintin Sponagle want to hide the money he stole in Nova Scotia? Because Price Waterhouse is suing him for $1.8 million dollars. Quintin Sponagle was renting a house in Gorgona for awhile but has since moved out. I'm still trying to get a photo of him, so if you have one please send to firstname.lastname@example.org. I think I'm ready to answer - "Quintin Sponagle, with a Bible, in the Church..." Do I win? (And for the record, the guy in the photo is the actor who played Mr. Green from the VCR version of Clue.)
Illegal Activity And It All Melts Away: In Panama it's relatively easy to penetrate the supposed cloak of secrecy surrounding these companies and corporations. As long as you're not doing anything illegal, then you have a right to privacy and protection. However as soon as you're doing something like trying to hide the $4 million dollars you stole in Nova Scotia from the members of your church, then any prosecutor will order full an investigation, together with full and complete disclosure. The lawyers who set these things up promise the moon when they are taking your money, but when the investigators from the Public Ministry come knocking they simply say "we didn't know" and roll over like ducks on a pond. It's actually a pretty good gig for the lawyers. And, there's steady flow of new suckers like Quintin Sponagle who are willing to drop down some of their hard-stolen money to try to buy anonymity. And once you start penetrating one company, then you find bank accounts, and the bank accounts lead to other information, and before too long it's all coming down like a house of cards, and Quintin Sponagle is on a plane for Ecuador. I imagine that my phone will be ringing at about 8:00 am on Monday. You nice people at Price Waterhouse, my US phone number is (845) 514-9893. Let's chat.
Copyright 2009 by Don Winner for Panama-Guide.com. Go ahead and use whatever you like as long as you credit the source. Salud.