Stock exchange moves on Waked operations
ONE DAY AFTER the Securities Superintenedency suspended operations of the Balboa Bank, the Panamas Stock Exchange ordered three suspensions related to operations connected to Waked businesses.
The first of was the suspension of the position of Balboa Exchange Securities Corp. A second order suspended trading of corporate bonds of Strategic Investors Group Inc.
Two bond series had been in place: one for$4,875,000 and another for $10 million.
The Stock Exchange of Panama also decided to “suspend trading of the different classes of common stock registered 1513 Balboa Funds, Inc., licensed for up to 100 million common shares for each class.”
The orders are signed by Olga Castillo, executive vice president and general manager of the Panama Stock Exchange.
The Waked family was, until Thursday,April 5, one of the most powerful economic groups in the country, whose visible leaders are Abdul Waked and Nidal Waked, now linked yesterday to an international network of drug trafficking and money laundering by the United States Department of the Treasury (EU ) and the US Drug Enforcement Administration (DEA).