The country of Panama is notorious for its lack of integrity and honorability. Going back decades and decades, there are myriad of instances where Panama has failed to adhere to what it purported it was going to do. Panama stated that it was going to protect off-shore investors' bank accounts, and this never happened. There was supposed to be a government bond, and this obviously was a sham. the list goes on and on. I don't trust that country, and you shouldn't either.