Treasury Targets Drug-Money Laundering Network, Hezbollah Fundraiser
The U.S. Treasury Department said Wednesday it designated four individuals and three entities under the Kingpin Act for their role in laundering drug money for alleged international drug trafficker Ayman Joumaa.
The Treasury also designated a Colombia-based individual as a terrorist for directing the Americas fundraising activity of Hezbollah, a U.S. State Department-listed foreign terrorism organization.
"The Joumaa network is a sophisticated multinational money laundering ring, which launders the proceeds of drug trafficking for the benefit of criminals and the terrorist group Hezbollah,” said David S. Cohen, the undersecretary of Treasury for terrorism and financial intelligence, in a statement.
Abbas Hussein Harb and Ibrahim Chibli were designated for collaborating with Joumaa to move millions in drug-related money, Treasury said. Harb’s Colombia and Venezuela-based organization launders money for the network through the Lebanese financial sector, while Chibli used his position as manager of a branch of Fenicia Bank in Lebanon to help Joumaa and Harb, Treasury said. (...)