No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeTopicsLatin AmericaRecord drug money bust in Panama: $10 mn in cash

Record drug money bust in Panama: $10 mn in cash

Panamanian authorities have seized a record haul of drug money — more than $10 million in cash — in a crackdown on gangs linked to neighboring Colombia’s embattled Gulf Clan.

It took investigators more than 12 hours to add up the money using a dozen machines, several of which failed under the strain, the prosecutor’s office said.

The money was found in three different hiding places in a house in Nueva Providencia in the Caribbean province of Colon. 

“This is, without a doubt, the largest seizure of drug trafficking money made in the entire history of the country,” prosecutor Javier Caraballo told reporters Thursday. The money-counting machines are finding it hard to keep up… some got damaged (from the counting) and had to be replaced.” 

The bust was part of a police operation that resulted in the arrest of 57 people this week with suspected links to the Gulf Clan, which has been weakened by the capture in Colombia of its leader and dozens of other members since last month. 

The clan controlled about a third of cocaine production in Colombia, the world’s largest exporter of the drug.  The United States is the main consumer.

Those arrested in the Panama operation, including five police officers, are accused of receiving large quantities of drugs from Colombia and hiding it before sending it on to the United States via Central America. The operation, in which agents of the US Drug Enforcement Administration participated, also seized 10 firearms and 38 luxury vehicles belonging to the group.

“We are talking about a big blow to a criminal group where it hurts most, in money,” said Caraballo.  

Trending Now

US Cracks Down on Costa Rica’s Narco Network with New Sanctions

The US Treasury Department moved against a Costa Rican drug trafficking ring today sanctioning four individuals and two entities tied to cocaine smuggling and...

Costa Rica Marks National Parks Day with Free Entry This Sunday

As everyone knows by now, our country stands out for its strong focus on protecting the environment. It leads in conservation efforts, manages its...

Panama Union Files Lawsuits Against Chiquita Over Mass Layoffs

Panama’s President, José Raúl Mulino, will meet in Brazil with U.S. banana company Chiquita Brands in search of an agreement for the company to...

In Costa Rica, Rare White-Lipped Peccaries Still Survive

Today we meet the white-lipped peccary, a large animal that travels in large groups that has disappeared from a large part of its historical...

El Salvador Schools Enforce Military-Style Uniform Inspections

El Salvador's public schools will start enforcing daily inspections for students' uniforms and haircuts from August 20, as ordered by the new education minister,...

The Most Clueless Gringo in Costa Rica: A Satirical Take on Expat Life

If part of your online day includes mindless scrolling through reels, you’ve probably seen the Dos Equis beer parody commercials. The original ads featured the...
spot_img
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica