Felix B. Maduro workers get Hail Mary pass
WORKERS at Felix B. Maduro got a whiff of oxygen on Wednesday June 1 with the announcement of measures to aid the continued operation of the iconic department stores that will safeguard their jobs.
The news came from the Office of Foreign Assets Control (OFAC) of the United States Treasury Department which said that while the action does not mean that the stores have been removed from the Clinton list, which prohibits it from doing business with U.S. entities, it does mean that, in cooperation with the Panama government, actions can be taken to break the link between the stores and its current owner, the Waked Group.
Members of that group have been accused by the U.S. of laundering money for drug traffickers.
People participating in this transaction will not be included in the Clinton list “as long as these non-U.S. people are participating in transactions between independent parties, and in good faith,” U.S. officials said.
The money from the transaction must be placed in a restricted account.
“To the extent that a transaction involves an American citizen or has ties to an American jurisdiction, parties should seek a specific license to participate in the transaction. Requests for such approval can be submitted through the internet site of the OFAC,” the Treasury Department said.
On May 5, the Treasury Department identified Abdul Waked and his nephew Nidal – currently detained in Colombia – as the ringleaders of the so-called Waked Money Laundering Organization
The Felix Maduro stores, which had operated in Panama for 138 years, were acquired by Grupo Wisa in February 2015.
The announcement came from Wisa Group vice president Juan Luis Correa, whose name surfaced in September the same year in connection with a probe by the Superintendency of financial institutions.
He was linked to insider trading in Petaquilla Gold shares with ex-president Ricardo Martinelli through the scandal plagued Financial Pacific brokerage.
His name re-appeared on April 4, the day of the announcement of the group being placed on the Clinton list when he was visited by Supreme Court Judge Harry Diaz whose visit has been widely questioned by civil groups.
