U.S. blacklists Hezbollah ‘money launderers’
U.S. Treasury says Beirut-based company Trade Point International moved money for Hezbollah-linked businesses
The U.S. Treasury on Thursday named two Lebanese men it said laundered money for Hezbollah to its sanctions blacklist.
The Treasury said Mohamad Noureddine and Hamdi Zaher El Dine worked through Noureddine’s Beirut company Trade Point International to move money for Hezbollah-linked businesses and individuals already on U.S. blacklists.
“Noureddine has utilized an extensive network across Asia, Europe, and the Middle East to provide money laundering, bulk cash shipment, black market currency exchange, and other financial services to a variety of clients, including Hezbollah members,” the Treasury said in a statement.
Hamdi Zaher El Dine was an employee of Trade Point.
Hezbollah, the Lebanese Shiite militant group and political part, is officially labeled a terrorist group by the United States.
Sanctions seek to lock individuals and companies out of the global financial system by banning Americans and any U.S. institutions from doing business with those on the blacklist.