167-year-old newspaper faces US sanctions
Source: Gulf Today
167-year-old newspaper faces US sanctions
June 15, 2016
Panama City: A 167-year-old newspaper in Panama that existed even before the country became independent is faced with extinction because its main shareholder has been hit with US sanctions for allegedly laundering drug money.
The daily, La Estrella de Panama, and a sister newspaper, El Siglo, are in real danger of closing, the head of its publishing company, Eduardo Quiros, told foreign correspondents on Monday.
Both titles are published by Gese, which is part of a business empire owned by Abdul Waked, a Panamanian who also holds Lebanese and Colombian nationalities.
Waked, 66, and a relative, Nidal Ahmed Waked Hatum, 36, were on May 5 designated by the US as major money-launderers for big drug cartels. Waked Hatum was arrested in Colombia.
Read more: http://gulftoday.ae/portal/3f3811a5-3692-4fbd-8bfb-f20c4c45aeab.aspx
geek tragedy
(68,868 posts)phazed0
(745 posts)EX500rider
(10,842 posts)phazed0
(745 posts)EX500rider
(10,842 posts)like it says in the article?
phazed0
(745 posts)Big banks, CIA, DEA, Afghanistan, China, Saudi Arabia... it's rampant.
Then, in the article it says a "the main board member", Waked Hatum, was arrested in Colombia. So, we're sanctioning the newspaper in Cuba because... ?
Notice how Mossack Fonseca continues to do business as usual:
The leaked documents illustrate how wealthy individuals, including public officials, are able to keep personal financial information private.[4] While offshore business entities are often not illegal, reporters found that some of the Mossack Fonseca shell corporations were used for illegal purposes, including fraud, kleptocracy, tax evasion, and evading international sanctions.[5]
Newspaper? Of course! We can't have the spy agencies (including the CIA) hurting from the loss of Mossack Fonseca.
Panama Papers: Spy agencies widely used Mossack Fonseca to hide activities
Something more is at work beyond this cover story, me thinks.
EX500rider
(10,842 posts)So this is the only drug money laundering case ever?
Suggest you start reading here:
https://www.google.com/?gws_rd=ssl#q=drug+money+laundering+indictment
Lots of banks there
phazed0
(745 posts)Which is my point. Go ahead and pick me out a Newspaper that has Government sanctions placed on it like a multinational bank or a Country would.
EX500rider
(10,842 posts)The US Treasury Department even gave a special licence intended to allow both Panamanian newspapers to continue printing and operating by authorising specific activities that would otherwise be prohibited
GreydeeThos
(958 posts)I think the article is about Panama City, Panama.