The U$ OFAC hits Nazem Said Ahmad’s network of 52 individuals and entities

April 18, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated a vast international money laundering and sanctions evasion network of 52 individuals and entities

The network designated today includes dozens of individuals and their associated companies involved in assisting Nazem Said Ahmad in evading U.S. sanctions to maintain his ability to finance Hizballah and his luxurious lifestyle.

This designation is part of a coordinated action with the Department of Homeland Security, the Department of State’s Rewards for Justice program, and the United Kingdom.

This network facilitated the

• Payment, shipment, and delivery of
• Cash, diamonds, precious gems, art, and luxury goods

For the benefit of

• Hizballah financier and Specially Designated Global Terrorist Nazem Said Ahmad,
• Who was designated on December 13, 2019, for providing material support to Hizballah.

The network spanned the globe:

• Lebanon,
• The United Arab Emirates,
• South Africa,
• Angola,
• Côte d’Ivoire,
• The Democratic Republic of the Congo,
• Belgium,
• The United Kingdom, and
• Hong Kong.

Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson said

• “The individuals involved in this network used shell companies and fraudulent schemes to disguise Nazem Said Ahmad’s role in financial transactions”
• “Luxury good market participants should be attentive to these potential tactics and schemes,
• Which allow terrorist financiers, money launderers, and sanctions evaders to launder illicit proceeds through the purchase and consignment of luxury goods.”

Treasury has documented the money laundering and terrorist financing risks associated with the trade of works of art in its February 2022 in the reports titled

• “Study of the Facilitation of Money Laundering and Terror Finance Through the Trade of Works of Art”
  • https://home.treasury.gov/system/files/136/Treasury_Study_WoA.pdf
• The October 2020 OFAC Art Advisory.
  • https://ofac.treasury.gov/recent-actions/20201030
  • https://ofac.treasury.gov/media/49091/download?inline

OFAC is designating this complex network of family members, business associates, and companies under Executive Order (E.O.) 13224, as amended, which targets terrorists, terrorist organizations, leaders, and officials of terrorist groups, and those providing support to terrorists or acts of terrorism.

Individuals and Entities Designated Today

1. Sundar Nagarajan, Ali Mossalem, Mohamad Hijazi, Firas Ahmad, Mohamad Ismail, Hind Ahmad, Rima Baker, Rami Baker, Ali Osseiran, Ibrahim Ghaddar, Mohamad Khawaja, White Star DMCC, Best Diamond House DMCC, Bexley Way General Trading, G&S Diamonds F.Z.E., United Investment Group S.A.L., and Idiams DMCC are being designated pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Nazem Said Ahmad.
2. Rim Nasser, Fadi Sader, Mohamad Wehbe, Bassem Murad, Ali Nachar, Fadi Abbas Saad, Hussein Nachar, and Fadico HK Limited are being designated pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Firas Ahmad.
3. Amana Diam DMCC is being designated pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Rami Baker.
4. Daoud El Riz is being designated pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Hind Ahmad.
5. Maricel Francisco is being designated pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Ali Osseiran.
6. Helics Gemb BVBA is being designated pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Amana Diam DMCC.
7. Gavia Tradings (P.T.Y.) L.T.D. and Oxfocento (P.T.Y.) L.T.D. are being designated pursuant to E.O. 13224, as amended, for being owned, controlled, or directed by, directly or indirectly, Mohamad Wehbe.
8. MSD SPRL Diamond Trading is being designated pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Oxfocento (P.T.Y.) L.T.D.
9. High Rise Property Investments (P.T.Y.) L.T.D. is being designated pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Oxfocento (P.T.Y.) and Diotrix (P.T.Y.) L.T.D.
10. Mega Gems (P.T.Y.) L.T.D., Oriental Dynasty Limited, and Thula Uzwe Trading are being designated pursuant to E.O. 13224, as amended, for being owned, controlled, or directed by, directly or indirectly, Firas Ahmad.
11. House of Art Limited is being designated pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Mega Gems (P.T.Y.) L.T.D.
12. Artual Gallery and DIDA are being designated pursuant to E.O. 13224, as amended, for being owned, controlled, or directed by, directly or indirectly, Hind Ahmad.
13. I.A. Trading 2013 OOD, Associates of Partners S.A.L., Ismail General Trading, and Joud General Trading is being designated pursuant to E.O. 13224, as amended, for being owned, controlled, or directed by, directly or indirectly, Mohamad Ismail.
14. Collecting Bee S.R.L., Debbiye 383 SAL, and 76 Benmore Garden Trust are being designated pursuant to E.O. 13224, as amended, for being owned, controlled, or directed by, directly or indirectly, Rami Baker.
15. Park Ventures S.A.L. is being designated for being owned, controlled, or directed by, directly or indirectly, Rima Baker.
16. Diotrix (P.T.Y.) L.T.D., M.S.D. Capital (P.T.Y.) L.T.D.), MSD DMCC, and M.S.D. are being designated pursuant to E.O. 13224, as amended, for being owned, controlled, or directed by, directly or indirectly, Oxfocento (P.T.Y.) L.T.D.
17. Fadico S A CC is being designated pursuant to E.O. 13224, as amended, for being owned, controlled, or directed by, directly or indirectly, Fadi Sader.

from U.S. Treasury website-  https://home.treasury.gov/news/press-releases/jy1422