Laundering suspect suing State bank for over $1.26 billion

“Laundering” suspect suing State bank for  over $1.26 billion

ABDUL WAKED accused by the United States of money laundering and links to drug cartels is suing the National Bank of Panma (BNP) for  over $1.2 billion.

Waked’s family business empire once included the iconic Felix Maduro stores and the Soho Mall which were placed in trust when The US Treasury placed Waked n the Clinton lisr, which meant that no US citizen or business could deal with them.

The prohibition included the La Estrella and El Siglo newspapers which at one time were on a short lifeline with the Varela government providing support in the battle to save the jobs of employees.

Two trusts were set up for the mall and the retail chain while buyers were sought, a move initiated by creditor banks.

Now Waked is suing the BNP,for  “damages, plus interest.”

On Thursday President Juan Carlos Varela announced that the State will defend itself against the demand.

“Mr. Waked at one point was named  by American diplomats as a person involved in the Clinton list because, according to them, he was a person who could

Have  issues of money laundering for cartels involved in drug trafficking. Our

role was to protect the innocent. Protect the jobs of Panamanians and give guarantees to him . Given the irresponsible attitude of suing the State for that figure, the State will defend . We will look for the mechanism. We are evaluating the case, “the president told La Prensa.

Waked’s lawsuit is in the hands of Judge Abel Zamorano.