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Drug Lord Arrested and Extradited
The restaurants in downtown Panama City are so good that they even attract Colombian drug lords. Unfortunately, for the drug lord in question, he did not get to finish his meal. Panama police arrested William Johnny Tamayo Hernandez and proceeded to extradite him to the United States where his former boss is being held. Because of its geographic position between Colombia and Mexico Panama has often become involved in the transport of cocaine heading for the United States. Those who think, apparently, that drug lords are afforded safety in Panama had better think twice.
Panama has a pretty low crime rate. There were a surge of murders earlier in 2008 but fewer are reported now, late in 2008. Crimes against visitors are pretty low and usually have to do with theft. Dealing in drugs, especially for foreigners who want to take a little home is a really bad idea as Panama prisons are really bad places.
Panama’s ongoing problem with international crime is its use as a transit point for cocaine heading north to Mexico and on to the USA. It is a credit to Panama that the Panama authorities are quick to arrest known organized crime leaders when found in Panama and to roll up organizations devoted to transportation of drugs.
According to the Associated Press, “National Police spokesman Eduardo Lin Yuen says [that] William Johnny Tamayo Hernandez is tied to Colombia's Norte del Valle drug cartel. He is reputed to be the right-hand man of Juan Carlos Ramirez, known as "Chupeta" or "Lollipop," the cartel's alleged money launderer who was arrested two months ago in Brazil and also has been extradited to the United States.”
Tamayo is wanted for murder as well as drug trafficking.
Panama is well known for its good governance. As the case of Mr. Hernandez shows this governmental efficiency in action extends to arresting known drug traffickers. For those who would like to retire, gain residency, and live in Panama it is reassuring to see a democratic, stable, and proactive government. For those interested in investment in real estate in Panama governmental stability and accountability assure that long term investment profits will not be confiscated, nationalized, or otherwise stolen.
Panama’s real estate investment boom has leveled off a bit with the world’s current economic crisis. However, investment in Panama, its business, its real estate, its people, and its future is still a good bet. Panama real estate investment is not just dependent upon the recent flood of North American retirees but on Panama’s well developed service sector, the efficient running of the Panama Canal, and Panama’s unique position in world trade.
If you are interested in looking into Panama real estate investments contact us at ABPanama. We have over 23 years experience managing real estate portfolios. We know little of drug lords but can recommend some good Panama City restaurants.