Soho Mall could be heading to trusteeship

PANAMA’S UPSCALE Soho Mall  owned by Abdul Waked could follow the same exit route from the Clinton list linked to money laundering and drug trafficking activities, as the Felix B. Maduro department stores with assets transferred to a trust.

The news came from    Minister of Economy and Finance, Dulcidio De La Guardia, during a talk with reporters on Tuesday, June 7.

Since Friday, June 3 the stores have been administered in  the form of a trust with  the National Bank of Panama (BNP).as trustee With this transaction, he gave its owner Abdul Waked assets stores.

La Guardia is confident that this week, Felix B. Maduro  will obtain a license from the United States Department of the Treasury, which allows it  to search for a new owner and make commercial and financial transactions with US citizens.

The unprecedented arrangement allowed  the department store chain to carry on normal operations and secured the  jobs of  company employees, some with decades of service the minister said