1,500 Kilos of Cocaine Busted Over The Weekend In Panama City
Monday, November 12 2012 @ 06:06 PM UTC
Contributed by: Don Winner
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.