[4] In 1955, during a trial from the National Assembly of Panama, Guizado was charged with the second degree murder of his presidential predecessor, José Antonio Remón Cantera.
Cantera was assassinated on January 2, 1955 by machine gun fire at the Juan Franco Racetrack in Panama.
[2] The suspected assassin, Ruben Miro, confessed to the murder and implicated Guizado, asserting that he had known about the plot.
[2] Guizado, his son, and his business partners Radolfo Saint Malo and Tomas Nieves Perez were sentenced to house arrest and brought to jail the following day.
[2] Two years later, Ruben Miro was acquitted of the murder charge for the assassination, and Guizado was exonerated and released from prison, reclaiming the rights and privileges of a former Panamanian president.