Riviera Colombia to be extinct
THE 59 RIVIERA RETAIL stores in Colombia will be declared “extinct said the country’s General Prosecutor’s Office of Colombia on Tuesday May 10.
“If one establishes a relationship or representation or corporate membership or some kind of relationship between Nidal Waked and La Riviera, we would initiate the process of extinction of the domain account,” said Prosecutor Jorge Perdomo in statements to RCN radio and the newspaper El Espectador.
According to the legal definition, the extinction of domain is a mechanism through which the state can declare the loss of the right of ownership to a business through a judicial order.
Currently, La Riviera has 59 stores in Colombia. The chain is owned by Abdul Waked, uncle of Nidal.
Last week, Nidal and Abdul Waked, in addition to La Riviera Panama and 67 companies belonging to the businessmen, were included by the U.S. Department of Treasury on the Clinton List for alleged activities related to money laundering and drug trafficking.
Nidal Waked was arrested on May 4 in Bogota and awaiting extradition to the United Stateswhere prosecutors are a calling for a 50 year prison term. Abdul Waked has not been charged and his lawyer has tried to downplay the evidence against him following a 7-year DEA investigation of the family’s activities.
