Colombia president oks Waked extradition to US

Panamanian Nidal Waked will soon be getting his day in a US court  to face charges  of fraud and money laundering after Colombia President Juan Manuel Santos authorized his extradition.

A Florida prosecutor is reported to be calling for a 50-year sentence in a case that has devastated  the Waked family owned business empire that once included Soho Mall, Felix B Maduro and the La Riviera chain of stores, a prominent fixture in  Latin American airports.

Santos approved the extradition before heading to New York to participate in the 71st General Assembly of the United Nations.

Nidal Waked is currently being held in La Picota Prison in Bogota. He was arrested in Colombia May 4.

The next day, the US Department of the Treasury placed 68 companies linked to Nial Waked and his uncle, Abdul Waked, on a sanctions list.

The Wakeds have denied any wrongdoing and have sued the U.S. government over the decision, which prohibits any US entity or citizen from engaging in transactions with companies in the family conglomerate.