Court Denies Bail for Colombia Drug Suspect

Accused Colombian drug financier Eduardo Martinez Romero was ordered jailed without bail Monday after he pleaded innocent to charges of laundering huge sums of cocaine money that led to his extradition to the United States.

U.S. Magistrate Joel M. Feldman, in denying a request that Martinez be held under house arrest rather than his current solitary confinement, ruled that defense lawyers failed to answer government arguments that he could resume supervising money laundering for the Medellin drug cartel and should be regarded as dangerous.

Martinez is the first accused Colombian drug figure extradited to the United States since his country’s anti-drug crackdown began more than three weeks ago.

Although the defendant had never been charged with a crime, was a government budget director and is a family man, Feldman emphasized that money laundering “oils the machine” of drug distribution and is more serious than a mere series of alleged illegal financial transactions.

The 36-year-old Martinez is accused of laundering at least $15 million in U.S. banks and of being the financial expert behind efforts to hide $1.2 billion in drug profits earned by the Medellin cartel, which is believed responsible for 80% of the cocaine smuggled into this country.

Martinez was extradited from Colombia under heavy guard last Thursday. His lawyer had objected that a U.S. court has no jurisdiction over him.

Martinez could receive life in prison under U.S. law, compared to 30 years under Colombian law.