The report

From Real Estate Scams to Caribbean Serial Killer

Bocas del Toro, Panama, a place seemingly ripped from the pages of a travel magazine, conjures images of swaying palm trees, white-sand beaches, and a laid-back expat lifestyle.

But beneath this idyllic facade lies a darker story, one involving a man named William Dathan Holbert, also known as “Wild Bill,” who transformed this tropical paradise into a theater of horror.

This is the story of how a small-time crook became a ruthless serial killer, and it’s a story that continues to shock and fascinate.

The Allure of Panama and Bocas del Toro

To understand the story of Wild Bill, it’s essential to grasp why so many Americans are drawn to Panama, and specifically, Bocas del Toro. Panama boasts a stable economy and serves as a significant hub connecting to various global destinations.

It’s a country where expats, not just North Americans, have found a community. For some, it’s a place for a fresh start; for others, it’s a chance to escape from debts, legal troubles, or strained family relationships. Some even live under assumed names.

Bocas del Toro, in particular, has a unique appeal. It’s a place that exists in an “uneasy space between surfers’ hangout and drug den”. The area attracts those seeking a low-budget, adventurous lifestyle, with the promise of affordable living and beautiful scenery.

However, this allure can sometimes mask a darker underbelly. There are warnings that not everything you read online about Panama may be accurate because some of those who write about it have partnerships or affiliations with developers and other companies and may be biased.

The Rise of “Wild Bill”

William Dathan Holbert’s story is a chilling one of descent into depravity. Beginning as a small-time crook in the U.S., he eventually morphed into a multiple killer in Central America. In Bocas del Toro, Holbert, a large man who “bulked up on steroids”, created a persona for himself. He was often seen sporting a horned Viking hat, an image he seemed to consider his trademark.

He opened a bar called the Jolly Roger Social Club, which became a popular spot for expats. The club’s tagline, “Over 90 percent of our members survive,” now reads as a grim joke given the fact that Holbert was a serial killer who targeted expats. Holbert’s method was to befriend fellow expats, gain their trust, and then murder them, often stealing their real estate. He then disposed of their bodies in shallow graves behind his house.

The Victims and the Crimes

Holbert’s victims were fellow expats who, like him, had sought a new life in Panama. He confessed to killing five people in Panama. The victims’ bodies were unearthed from shallow graves, a grim discovery that revealed the dark secrets hidden beneath the surface of this seemingly idyllic place.

The Investigation and Capture

The crimes came to light in 2010 when Holbert and his partner, Laura Michelle Reese, were arrested after fleeing their home in Bocas del Toro. The information about the murders was initially patchy and confusing, though some reports appeared in local media.

The Aftermath

The arrest of Holbert and Reese brought to light a story that was almost too strange to be believed. The second half of the story, particularly what happened after Holbert was imprisoned, is particularly remarkable.

Bearer Shares and Real Estate Scams

A significant aspect of Holbert’s crimes involved real estate fraud, often facilitated by bearer shares. A bearer share is a stock certificate that is owned by whoever holds the physical document. This anonymity makes them very risky and prone to misuse in financial crimes.

Here are some key details about bearer shares:

Ownership: Ownership is transferred simply by handing over the physical certificate.
Anonymity: This feature makes it difficult to track who actually owns the shares, which facilitates fraud, tax evasion, and money laundering.

Panamanian Law: Panama has taken steps to regulate bearer shares. Law 47 of 2013 established a custodial system. This law requires that bearer shares issued before Law 18 of 2015 be either converted to nominative shares or given to an authorized custodian by the end of 2015. For bearer shares issued after the law went into effect, they must be delivered to a custodian within 20 days of issuance.

Global Shift: Many countries have moved away from bearer shares to increase transparency and combat financial crimes.

Holbert exploited the anonymity afforded by bearer shares to steal real estate from his victims. He would befriend expats, murder them, and then take their properties by simply taking possession of the bearer shares linked to those properties.

Life Inside a Panamanian Prison

Holbert’s story doesn’t end with his capture and imprisonment. Even behind bars, he continued to be a complex and controversial figure.

Access to Social Media: Holbert uses social media, which is unusual for prisoners in the US. He has a Facebook group called “Friends of Brother Bill,”.
Claims of Being a Pastor: He claims to be a pastor in prison, preaching both Jesus Christ and the law of attraction.

Church Leader: He says he is the pastor of the church within the prison.
Daily Audio Diary: Holbert publishes an audio diary called “Life Inside Hell” on YouTube.
Seeking International Attention: He has sought international help regarding human rights and conditions within the prison.

Holbert has also described his experiences within the Panamanian prison system, which include the following:

Sector C: He spent time in Sector C, a section of the prison he describes as “supermax” and “the worst place you can be,” where human rights are suspended.

Lack of Basic Necessities: In Sector C, prisoners must buy their own food, bedding, and toilet paper.
Dangerous Conditions: Holbert describes Sector C as a place where “so many people die”.
Freedom within Confinement: Despite the harsh conditions, Holbert also describes that he has a lot of freedom, and has been recognized by the police as the chaplain of the prison. He is out of his cell from 7 AM to 6 PM every day.

Prison Gang Culture: Holbert describes the gang culture within the prison, noting that racism is not a factor in prison life.

Tattoo Culture: He discusses the tattoo culture, saying that most tattoos done by prisoners are “atrociously bad artwork”. Holbert has 101 tattoos and got them with the help of a fellow prisoner, a former transit cop who had good artistic skills.

A Complicated Figure

Holbert’s story is not simply that of a criminal. He presents a complicated mix of charisma, manipulation, and violence. He has written a book titled, Long Live the King Wild Bill: The Hero is a Villain, where he describes his crimes and time in prison. He is also working on a second book called Concentration Camp 2000 about the Panamanian prison. He sees himself as a victim of circumstances and a misunderstood figure.

Lessons from the Jolly Roger Social Club

The case of William Holbert and the Jolly Roger Social Club serves as a chilling reminder that not all that glitters is gold. The expat dream in tropical paradise can turn into a nightmare when the right (or wrong) people are involved.

Be Wary: It’s important to be wary of seemingly too-good-to-be-true opportunities and to do your own research when relocating to a new place.
Due Diligence: Always conduct thorough due diligence, particularly when dealing with real estate transactions, and be especially wary of bearer shares.
Trust Your Instincts: If something feels off, it probably is. Don’t ignore your gut feelings.

Holbert’s Continued Presence

Even today, Holbert remains a presence through his social media and his YouTube channel, “Life Inside Hell”. This access to an audience serves as a means for him to tell his side of the story, connect with people, and even seek assistance for his cause. However, it also provides a platform for him to potentially cause further harm, particularly to the victims’ families.

A Dark Chapter in Paradise

The story of William “Wild Bill” Holbert is a dark chapter in the history of Bocas del Toro, a place that many see as paradise. It serves as a cautionary tale about the dangers of unchecked ambition, the appeal of anonymity, and the dark side of human nature. The story serves as a stark reminder that even the most beautiful places can harbor the darkest secrets.