Panama said it would be filing a criminal complaint against executives of a Hong Kong firm that owns ports along the Panama Canal, after an audit found they owed millions in dues.
The move comes as U.S. Defense Secretary Pete Hegseth is visiting the country to meet the Panamanian president.
Panama’s comptroller authority said Monday an audit of Panama Ports Company found irregularities in the renewal of a 25-year port concession in the interoceanic canal and it would request an investigation into the authorization of the contract to CK Hutchinson, which is based in Hong Kong and owns the company.
Comptroller-General Anel Flores said the audit found some payment defaults, accounting miscalculations and some “shadow” operation of companies that company originally denied, costing Panama $300 million in lost revenue.
The audit’s results will be sent to Panama’s Maritime Authority, which oversees the ports and has the power to terminate a contract.
President Donald Trump has threatened to retake control of the Panama Canal, arguing that the U.S. should have never turned control over to the Panamanians more than two decades ago.
While the audit was underway, CK Hutchison said it has agreed to sell its controlling stake in Panama Ports Company to a consortium including BlackRock Inc., effectively putting the ports under American control.
The Panamanian government maintains it has full control over the canal and that the Hong Kong-based group’ operations of the ports did not mean a Chinese control over the canal.
Information from the Associated Press was used in this report.
Sam Barron ✉
Sam Barron has almost two decades of experience covering a wide range of topics including politics, crime and business.
© 2025 Newsmax. All rights reserved.