Thursday, June 21, 2012
Hezbollah, Colombian Cartels and 30 U.S. Car Dealers Implicated in Money Laundering Scheme
The Lebanese Canadian Bank and two Beirut-based exchange houses, Hassan Ayash Exchange Co. and Ellissa Holding, along with 30 auto dealers in the United States, are being accused by U.S. federal authorities for participating in a US$400+ million money laundering scheme to benefit Lebanese terrorist group Hezbollah and Colombian drug cartels.
“The intricate scheme laid out in today’s complaint reveals the deviously creative ways that terrorist organizations are funding themselves and moving their money, and it puts into stark relief the nexus between narcotics trafficking and terrorism”, said U.S. Attorney Preet Bharara.