Noriega's Panama mansion fails to draw bids again

AP News
Posted: Apr 12, 2011 9:43 AM
Noriega's Panama mansion fails to draw bids again

Panama's government hoped to auction off a mansion that once belonged to former strongman Manuel Noriega for $2.5 million, but no one has bid.

The dilapidated mansion is on a 35,000-square-foot (3,500-square-meter) lot in an exclusive Panama City neighborhood.

This is the second time the property has been up for auction and drawn no bids. A statement Monday from the Economy Department says it will try a third auction.

Noriega's family has been trying to recover the property.

Noriega was ousted in a 1989 U.S. invasion. He was convicted of drug racketeering in Miami and served 20 years in a U.S. prison.

He was sent last year to France, where he was convicted of laundering drug money and received a seven-year sentence.

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