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Panama News Briefs

Website entrepreneur files honor suit against Panama editor

by the A.M. Costa Rica staff

A Central Valley, Costa Rica financial consultant is bringing a criminal action against the editor of The Panama News, an English-language newspaper in Panama.

The consultant is Mark Emory Boswell, who uses the name "Rex Freeman" in his online financial operations.

The editor is Eric Jackson, who said in an e-mail on November 30 that he had been served with legal papers.

Boswell, who has lived and operated his business in Costa Rica since 1999, appears to be upset with a story Jackson wrote in August, titled "'Patriot' militia radio personality to expat investment hustler."

In the article Jackson chronicled how Boswell left Colorado where he had a right-wing weekly radio talk show and then set up business in Costa Rica.

Boswell has written extensively on how he escaped from the United States on websites, so much of the background information for the story came from Boswell himself.

In his suit, Boswell charges a "crime against honor," Jackson said.

Jackson also reported that Boswell appeared to be moving his investment and foreign currency exchange business from Costa Rica to Panama. Jackson wondered if the businesses were registered with the relevant financial authorities in Panama.

A former associate of Boswell said Boswell spent a month in Panama trying to get the suit started. Boswell also gives seminars on investing abroad.

The former associate said that the business caters to those trying to hide assets offshore. The ex-associate displayed a credit card that had no name imprinted on it, just numbers. The card said it came from Continental Trust in Switzerland.

Boswell had a business location in Plaza Colonial in San Rafael de Escazu but at last report was closing that office to consolidate at an office in Plaza Mayor in Rohrmoser. The ex-associate, a Costa Rican, said he has filed a Ministerio de Trabajo action in order to receive salaries and benefits owed him by Boswell. He said that Boswell was venturing into the online casino business.

In one of his website stories, Boswell said that he and his wife have been living on tourist visas in Costa Rica for five years and that he has made significant profits trading foreign exchange.

Boswell appears to have several Web-based businesses, registered in Panama, including Venture Resources Group, which describes itself on its site as  "a membership based international business and investment club designed to do one thing: help VRG members achieve Freedom!" The site has been disabled by the Internet service provider due to allegations it was generating spam, said a notice posted there Thursday, November 30.

Boswell also operates the PCI Investment Club, another business registered in Panama but apparently operated out of Costa Rica. Club members buy in for $495 a year and get referral bonuses, said the Web site. The club also offers 200 percent interest at the maturity of certain certificates. 

Editor's note: The story in The Panama News upon which Mr. Boswell / Freeman's criminal defamation allegation is based can be found at http://www.thepanamanews.com/pn/v_12/issue_15/business_01.html