The Sixteenth Prosecutor in charge of Kira Brokamp a trial against businessman Richard Fifer and Kenneth Morgan who acted as directors of Petaquilla Minerals, SA, and now are accused of crime against economic wealth to the detriment of Gold Dragon Capital Managment, Ltd.
Gold Dragon says Petaquilla Minerals, cheated him by selling some metal exploration concessions he never had in their power.
According to the complainant, Fifer through the company 'tricked' because it offered a business that could not be realized, which was impossible. For this reason, Fifer would have cheated and taken away 'almost' $ 1 million.
The contract was that in exchange for Gold Dragon invest hundred thousand Canadian dollars for exploration work and make sure that owned 2% of the shares of Petaquilla Minerals Ltd, parent company of Petaquilla Minerals, S, A, were issued in circulation, Gold Dragon had the option of receiving in return concessions Belencillo River zone 1 and 2, and Rio Petaquilla concessions.
However, Gold Dragon says he was duped because the signing of the contract, Petaquilla Mineral represented that had concessions for mining exploaración in their hands and they were able to transfer no later than 120 days action has been executed, the date was on May 6, 2006.
FINANCIAL RESEARCH
According to the summary of the prosecution, the ruler of the mining sector by the Panamanian government, the Department of Mineral Resources, Ministry of Commerce and Industry (Mici), a note certified that Petaquilla Minerals maintained at that address demand for exploration concession Belencillo for Rio and Rio Petaquilla.
The request was submitted by Adrian Resources, now Petaquilla, on December 22, 2003 and was declared eligible for exploration of metallic minerals, however, it has not been granted concession to the request.
Therefore, he added Mici, the company can not transfer or perform other actions on concessions before being approved or recognized by the State, since for this must have a concession contract and Petaquilla Minerals, does not have any operating permit or exploration in these areas.
CONTRACT
The version of the complainant, Gold Dragon, refers to 7 May 2005. John Cook president of Gold Dragon with Petaquilla Minerals signed an option contract trading on the rights of several concessions.
Depending on the contract, Petaquilla Minerals, was forced to sell Gold Dragos two polygons of land identified as Zone 1 and 2 by 68% in the Belencillo and Petaquilla Rivers.
In the contract, Petaquilla claimed to be the legal owner and beneficiary of both areas.
Under these conditions, the parties agreed that Gold Dragon CANADIAN deliver 1,125,400 of dollars, against a 2% of the shares of Petaquilla Minerals.
The term of the contract within which Gold Dragon had an option to exercise the option to purchase the rights enunciated ran until May 7, 2006, as stipulated in the contract.
In the document between the parties, the 'optionee' or Petaquilla Minerals; ensures that concessions are free of encumbrances and restrictions of all kinds and are peace and safe with the government and can be transferred.
In the agreement, Petaquilla Minerals Gold Dragon also offered the option of processing the ore material.
According to the complainant, Petaquilla must deliver within 60 days, the title of concessions or 100% of the shares of a Panamanian company that has the concession.
The day May 18, 2005, Petaquilla Minerals made public the agreement with Gold Dragon.
DECEPTION
The shareholders of the company learned through a statement that the company had granted to Gold Dragon an option to buy its interest in the concession of Rio Belencillo and Rio Petaquilla by more than one million Canadian dollars, payable in shares of capital Gold Dragon.
To activate the option Gold Dragon must demonstrate ownership of a minimum of $ 1,025,000 shares of Petaquilla Minerals Ltd., within 120 days from the execution of the option agreement. After activating the option, Gold Dragon, noted the contract, has the irrevocable right and option to purchase concessions until May 7, 2006.
On October 5, 2007, Richard Fifer, president and legal representative of Petaquilla Minerals forwarded, as read on the fiscal side, a note to Gold Dragon in which he mentions that the payment of $ 100,000 on expense account exploration, not made in accordance with the agreed terms.
Therefore, the agreement between the parties has not been honored by Gold Dragon also indicated that involuntarily had misinformed Gold Dragon and the public.
COMPLAINT
The fact motivated lawyer Gold Dragon and Fifer protest to the position taken by the mining. This corrected his posture and approached both Mineral Resources in the Ministry of Commerce where the agreement made between the two parties were notified and requested once Mici the transfer of concessions to meet Gold Dragon.
However, according to the complainant, this date Petaquilla Minerals has failed to obtain the concessions offered in option despite having said he possessed the same in due form.
The complainant says Fifer cheated because he offered an impossible business for nonexistent and therefore fraudulent because he 'removed' almost $ 1 million.
The prosecution turned multiple ballots Fifer and Morgan summons to surrender their defense, but without success. Cg court granted a term of four months from the prosecution to conclude the investigation and at this time failed to get the version of the accused.
Despite that, it appears in the file Luis Acevedo lawyer as legal representative of Fifer, who also filed a motion for dismissal.
The Sixteenth prosecutor issued fiscally, however, to appeal to trial Fifer and Morgan for committing the offense against the administration of justice (evasion), to the detriment of Gold Dragon.
The prosecutor Kira Brokamp signed the view, apparently unaware of the error.
Richard Fifer remains provisionally detained at the Directorate of Judicial Investigation after the prosecutor issued an arrest warrant for the International Police. Fifer was arrested on 25 February, two months after launching the alert. It is judged in the province of Cocle on the standards set by the accusatory penal system (SPA), in force in Cocle.
==========
CHRONOLOGY OF FACT
The complainant accuses Richard Fifer of fraud 'almost $ 1 million
DICEMBRE 2003
Petaquilla is declared eligible for exploration of metallic minerals.
MAY 2005
Golden Dragon signs purchase agreement with Petaquilla.
MAY 2006
Golden Dragon tried to enforce the contract.
FEBRUARY 2016
Fifer arrest in Colombia.
News 
Market Data 
Discover 
