Panama Starts Confiscation of Delvalle’s Assets

Associated Press

The government has begun seizing the assets of deposed President Eric A. Delvalle, the judge in charge of the confiscation said Saturday.

Judge Lorenzo Parker Dupuy said Panama’s Treasury Department issued the order after Delvalle was formally accused of acts “harmful to the people of Panama,” including asking the United States to freeze $54 million in Panamanian funds on deposit in U.S. banks.

The freeze, which disrupted the Panamanian economy last spring, coincided with an unsuccessful opposition drive to force Panama’s military strongman, Gen. Manuel A. Noriega, to resign.

The judge said he began confiscating Delvalle’s assets--including 18 racehorses--last Thursday.


The Santa Rosa sugar firm, a major Delvalle business, will be confiscated Monday, he said.

The judge said he did not know the value of Delvalle’s assets.

He also said Panama Treasury Secretary Orville Goodin has ordered all banks in Panama to freeze Delvalle’s accounts and turn over the records by Oct. 7.

Delvalle, 50, served as president from Sept. 27, 1985, to Feb. 26, 1988.


Noriega had the National Assembly replace him as president after Delvalle tried to remove him from office.