Jailed American Man Admits to Five Murders (VIDEO)

As seen in the video below, an American man is now shackled in Panama after admitting to five murders, in a plot to take over the victims' businesses and property.

The death of the American and Panamanian citizens was said to be inspired by William Holbert's desire to worm his way into their business ventures and real estate holdings, as each of them had some involvement with tourist destinations and hostels. He befriended his victims by posing as an potential investor into their business ventures, before allegedly murdering them.

Holbert and his wife both face possible charges, and Holbert having admitted to the killings is sure to face very serious charges as he and his wife seek legal representation in Panama.

Jailed American Man Admits to Five Murders
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A jailed U.S. man has admitted killing five other Americans so he could take over their businesses and other properties in a Panamanian resort area, a government prosecutor said Saturday. The man's wife refused to talk with investigators and asked for legal assistance from the U.S. Embassy, the official said. The embassy was closed Saturday and U.S. officials could not be located for comment. The couple, William Dathan Holbert and Laura Michelle Reese, were arrested earlier this week when they tried to enter Nicaragua from Costa Rica.

Jailed American Man Admits to Five Murders