U.S. Sanctions Lebanese Bank for Aiding Hizbullah

(Wall Street Journal) Evan Perez - The U.S. Treasury Department on Thursday ordered sanctions against the Lebanese Canadian Bank SAL, that helped drug traffickers launder money and finance the Lebanese group Hizbullah. U.S. officials alleged that hundreds of millions of dollars in drug proceeds were laundered through accounts at the bank. Last month, Treasury officials designated Ayman Joumaa as a drug kingpin and sought to seize assets belonging to him and associates. The U.S. Drug Enforcement Administration says the Joumaa network moves as much as $200 million per month through various conduits.

2011-02-11 00:00:00

Full Article


Visit the Daily Alert Archive