Panama seizes $7 million in suspected drug money

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Associated Press

Posted on January 13, 2014 at 2:32 PM

Updated Monday, Jan 13 at 2:36 PM

PANAMA CITY (AP) — Panamanian police have seized $7 million in cash found hidden in eight suitcases and are holding three Honduran men who allegedly brought the luggage into Panama City's international airport.

Chief drug prosecutor Javier Caraballo said Monday that authorities found the cash after getting intelligence that suspected drug money would enter Panama through Tocumen Airport.

A police statement says the three men flew in from the Honduras capital of Tegucigalpa and had the suitcases with them when they were detained.

Panamanian authorities say officers found bundles of $100 bills in hidden compartments inside the suitcases.

Panama is a known money-laundering hub for drug cartels in Latin America.

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