Panama Approves Zhang Liang Extradition to China Over Alleged $300 Million Embezzlement
Updated
Updated · The New York Times · Nov 14
Panama Approves Zhang Liang Extradition to China Over Alleged $300 Million Embezzlement
1 articles · Updated · The New York Times · Nov 14
Summary
Panama’s Foreign Affairs Ministry agreed last month to proceed with Zhang Liang’s extradition to China, where authorities accuse the 44-year-old businessman of embezzling about $300 million.
A July traffic stop in Panama City triggered his arrest after police found an Interpol red notice; he has remained jailed since, and a Panamanian court denied bail in August.
Chinese prosecutors tie the case to Zhang’s transfer of a Panama port terminal to Notarc in 2022, while Zhang calls the charges a sham aimed at regaining control of assets near the canal.
The case unfolded as U.S.-China tensions over the Panama Canal intensified, with Zhang arrested the same week China’s new ambassador arrived and days before Panamanian officials traveled to Beijing.
Zhang once helped expand Chinese commercial influence in Panama, but his empire unraveled as Panama cooled on Chinese projects and Beijing tightened control over politically connected entrepreneurs.