Just rewatched it for like the twentieth time and my impression is that the CIA slimeball in a suit that joined the meeting at the US command center was the source of the bad intel that got Ryback's team wiped out in Panama. Something tells me in an earlier draft of the script, TLJ's character was going to be the CIA asset that Ryback's team worked with during the failed operation, and either have it be revealed he screwed Ryback on purpose to make him super extra villainous OR to have him try and relate his getting betrayed by the CIA himself with Ryback's team getting the shaft during the final confrontation.
In the end, I'm glad the reference to a past encounter is vague. It comes off better as a plausible, cool throw away with interesting implications, rather than some hammy over-explained "And it was I who killed your father and kicked your dog, too" moment. TLJ was already the biggest *beep* on the planet.
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