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Thursday, June 20 2019 @ 10:57 AM UTC

1,500 Kilos of Cocaine Busted Over The Weekend In Panama City

Drug TraffickingThe deputy director of the Direction of Judicial Information (DIJ) Alexis Muñoz said four intelligence operations conducted during the weekend could result in the seizure of more than 1,500 kilos of cocaine. The intelligence operations took place in Condado del Rey, Bella Vista, Juan Diaz and other parts of the city. He also said they arrested 14 people who were involved in drug trafficking, among them Colombians and Panamanians. Additionally they seized $20,000 in cash, weapons and vehicles. (Critica)

Editor's Comment: Holy crap. That's a relatively large bust, even by Panamanian standards. One kilo of cocaine on the ground in Panama has a wholesale value of about $4,500 so 1,500 kilos is worth about $6.75 million. Once the load makes it to the United States, the wholesale value on the ground in Atlanta jumps to about $26,000 per kilo, giving this 1,500 kilos a value of about $39 million dollars. But on the street, cut, and distributed at the retail level cocaine has a value of about $100 per gram or $100,000 per kilo - so 1,500 kilos has a street value of more than $150 million. In case you're wondering, that's a 2,122% markup from wholesale in Panama to retail on the streets of Chicago.

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