A Swiss national, on an international most-wanted list, is suspected of murdering a former Ottawa business man whose body was found in a suitcase a year and a half ago.

According to a local paper in Panama, 56-year-old Ludwig Vico Pereira was arrested in the murder of Ed Moynan on Friday.

The article posted by Playa Community News says the arrest was made by an undercover officer and that the suspect appeared to be living near the beach.

Ed Moynan was reported missing from a home he owned in Coronado, Panama in November 2012.  His body was found in a suitcase at a national park in Panama in March 2013. Now more than a year later, Pereira has been arrested in connection to the case.

Officials believe there may be other suspects connected to the case.

The investigation is ongoing.