[AP/Washington Post] Jeannine Aversa- The U.S. Treasury Department took action Thursday against two Lebanese financial companies - Bayt al-Mal and its head, Husayn al-Shami, and the Yousser Company for Finance and Investment - accusing them of functioning as Hizballah's "unofficial treasury." Americans are forbidden from doing business with them, and any bank accounts or other financial assets belonging to these three in the U.S. must be frozen. Bayt al-Mal operates under the direct supervision of Hizballah leader Hassan Nasrallah. "As Hizballah's main financial body, Bayt al-Mal serves as bank, creditor, and investment arm for Hizballah," and its central headquarters was located in Hizballah's stronghold in Beirut's southern suburbs, the department said.
2006-09-08 01:00:00Full ArticleBACK Visit the Daily Alert Archive