Soho Mall step nearer to sale

SOHO MALL, the flagship of the Waked family has received a license  from The US Treasury Department to facilitate its sale.

The mall is owned by Abdul Waked, whose companies were placed on the Clinton List due to his alleged connections to drug traffickers.

The license will allow Soho Mall to have access to American financial services until January 2017.

Any sale of the mall must be approved by the US government.

The Treasury Department prohibits its citizens and companies from engaging in transactions with entities on the Clinton List.

The mall has been placed under the supervision of a trustee who will supervise the sale. The trustee is a representative of the mall’s creditors.

A similar formula was used for the Felix B. Maduro department stores, another company owned by Waked reports La Prensa.