The World - News from Oct. 2, 1988

Panama has begun seizing the assets of deposed President Eric A. Delvalle, the judge in charge of the confiscation, Lorenzo Parker Dupuy, said. He said Panama’s Treasury Department ordered the confiscation after Delvalle was formally accused of acts “harmful to the people,” including asking the United States to freeze $54 million that the National Bank of Panama has on deposit in U.S. banks. The judge said 18 racehorses stabled at the Hipodromo President Remon in the capital were seized Thursday. The Santa Rosa sugar firm, one of Delvalle’s main businesses, will be confiscated Monday, he added. Also, every bank in Panama was ordered to freeze Delvalle accounts and turn over his records by Oct. 7.