288 Kilos of Cocaine Found In Boat Workshop in Rio Abajo
Friday, October 19 2012 @ 01:21 PM UTC
Contributed by: Don Winner
When the police arrived there was no one in the premises that was being used as a workshop. There were only two German shepherd dogs, guarding the premises. During the inspection they found two boats, and upon further review they found the drugs hidden in a false bottom that had been built into both boats. Other packages of drugs were found within several small boxes, bags and suitcases in a storage area on the premises.
The Chief of Police of the Pueblo Nuevo zone, Deputy Commissioner Jose Duarte, said they received a telephone call on Wednesday night reporting the suspicious movement of cars on the site. This irregular situation led to an intelligence operation conducted by specialized anti drug units, and when the raid was ordered they found 54 kilos in a boat and more drugs in the storage area. The drugs were field tested, and was positive for cocaine.
It is presumed the place was used as a workshop, in order to modify the boats, which were then used to transport drug shipments to other countries. The drugs were transferred to the National Police headquarters located in the district Ancon, where it is heavily guarded. (Critica)
Editor's Comment: A kilo of cocaine in Panama City costs about $4,500 so 288 kilos has a wholesale value in Panama of $1.29 million. A kilo of cocaine in Atlanta has a wholesale (traffickers) value of about $26,000 so 288 kilos in the US is worth $7.48 million. Then once it's cut and sold on the street at a retail level, the value jumps to $100,000 per kilo so 288 kilos eventually brings in $28.8 million dollars in cash. So "what's the value of this bust?" Depends...