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Who killed the party people on the yacht in Max Payne 3?

I want to understand some details of the Panama mission; was the mission even part of the main story, contribute to it? Or is it shown as a side story, one episode from Max's past missions as the Branco's family bodyguard?
Yes it was the Panama military, but who told them and why that there is money hidden on the yacht.
Marcelo was using Daphney and the party to launder, transport the money. He clearly did not want anyone to know anything of his true goal.
Is the Panama mission serving as a reminder that all the people Max tried to protect just die?
Question from user ERJAN at gaming.stackexchange.com.
Answer:
It is talked about in the following cut scene after you complete this mission, which you can watch here:.
To summarize, there was a large amount of cash on the yacht that the paramilitary group got tipped off to somehow. It doesn't seem to be exactly clear how they knew, but they were pirates after all.
The money was meant to be laundered in Panama since it is easier to get away with. Victor and Marcelo Bronco were conspiring against their older brother Rodrigo, who controlled the family's wealth. Victor and Marcelo "lived well", but they don't actually have any real money to their name(s), since Rodrigo controlled it all, hence why they were trying to launder this money.
So where does Max Payne fit into this? He was meant to be the fall guy, which Da Silva theorized.
Why did the paramilitary group kill everyone? They didn't care most likely. They wanted the money that was on the boat, and were willing to kill everyone in their way. They are a powerful enough Colombian organization in Panama that they could get away with it.
Answer from user Timmy Jim at gaming.stackexchange.com.

I want to understand some details of the Panama mission; was the mission even part of the main story, contribute to it? Or is it shown as a side story, one episode from Max's past missions as the Branco's family bodyguard?
Yes it was the Panama military, but who told them and why that there is money hidden on the yacht.
Marcelo was using Daphney and the party to launder, transport the money. He clearly did not want anyone to know anything of his true goal.
Is the Panama mission serving as a reminder that all the people Max tried to protect just die?
Question from user ERJAN at gaming.stackexchange.com.
Answer:
It is talked about in the following cut scene after you complete this mission, which you can watch here:.
To summarize, there was a large amount of cash on the yacht that the paramilitary group got tipped off to somehow. It doesn't seem to be exactly clear how they knew, but they were pirates after all.
The money was meant to be laundered in Panama since it is easier to get away with. Victor and Marcelo Bronco were conspiring against their older brother Rodrigo, who controlled the family's wealth. Victor and Marcelo "lived well", but they don't actually have any real money to their name(s), since Rodrigo controlled it all, hence why they were trying to launder this money.
So where does Max Payne fit into this? He was meant to be the fall guy, which Da Silva theorized.
Why did the paramilitary group kill everyone? They didn't care most likely. They wanted the money that was on the boat, and were willing to kill everyone in their way. They are a powerful enough Colombian organization in Panama that they could get away with it.
Answer from user Timmy Jim at gaming.stackexchange.com.
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