US To Share $36M From Money Laundering Case With Panama

Law360, New York (October 22, 2013, 8:25 PM EDT) -- The U.S. Department of Justice agreed Tuesday to share with Panama's government $36 million of the assets seized in a money laundering case involving Panama-based businesses in the Colon Free Trade Zone, the second-largest sum of forfeited assets the agency has ever shared with a foreign country.

The DOJ offered 70 percent of the $52 million in assets it confiscated from the businesses to Panama in recognition of the assistance the Central American country's authorities provided to an investigation into jewelers who were allegedly laundering millions of...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.