SKEPTICS IN MEXICO PONDER FATE OF SEIZED DRUG MONEY

Authorities Say $ 5 Million Will Be Put To Good Use --
But To Whose?

MEXICO CITY -- Show me the money.

That's a common sentiment among some Mexicans six weeks after federal
agents carted away a record $205 million in cash seized as drug money.

Given this nation's history of corruption and the average person's
distrust of anybody official, from beat cops to the president, there
is skepticism.

"They are going to steal it," said Irene Huelta, 65, a retiree who
works part-time at a grocery store. "They say they will use it for
something good, but I do not believe it."

Others shared similar opinions.

"It will not be spent the way they say, and then they will pretend
they did not know what was going on," said Mauricio Reyes, 22, an
economics student.

The public's last glimpse of the cash was in March, in photos released
by the Mexican government showing the currency -- most of it in U.S.
$100 bills-- stacked in the upscale Mexico City residence where it was
found during a methamphetamine bust.

"Whenever the government does something in Mexico, people are
automatically suspicious," said Fabrice Lehoucq, a Mexico City
political analyst.

"They have gotten 70 years of pretty rotten government. Things are
slowly getting better, but there is still a lot more that needs to
change," he said.

Process could take yearsThere has been talk that the windfall,
believed to be the largest cash seizure ever by any law enforcement
agency in the world, should be used to bolster public education and
welfare programs.

But the administration of President Felipe Calderon has said that not
a single peso will be spent until a criminal investigation is
complete, a process that could take years.

"I can say today that we will use no less than one-third of this money
for the prevention and treatment of addictions," Calderon said in April.

In the meantime, the federal government seemed to be trying to quell
concerns by publishing a letter this week explaining in general terms
how the money is being handled.

The cash was held by the army's bank, Banjercito, states the letter,
and it then was sent to Bank of America, where it is being
"authenticated," a process that could take another month.

Bank of America declined comment Friday.

The statement was unclear on whether the money is earning
interest.

Even in a standard savings account, which would be unheard of for such
an amount, the yield would be staggering.

For example, Wells Fargo bank in Texas advertises a preferred-rate
savings account with an interest rate of 3.9 percent on amounts above
$100,000.

Based on that, the $205 million would make about $22,000 a day in
interest, or in the neighborhood of $8 million a year.

That means there would be even more money that would have to be
tracked. And people would need to take the government's word for
exactly how much more.