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HomeNewsBusinessAlleged Hezbollah financial adviser in Lebanon under US sanctions

Alleged Hezbollah financial adviser in Lebanon under US sanctions

On Tuesday, the United States imposed sanctions on a prominent Lebanese economist who was allegedly helping the extremist organisation Hezbollah with its financial activities.

Hassan Moukalled, an economist and money changer, his company, CTEX Exchange, and his sons Rayyan and Rani Moukalled were all named in the U.S. Treasury Department’s announcement of sanctions. The Treasury claimed that these individuals “facilitate Hassan Moukalled and his company’s financial activities in support of Hizballah.”

In order to help Hizballah create a foothold in Lebanon’s financial system, it was said that Moukalled, who frequently makes appearances as an economic commentator on local television, had “worked in close coordination with senior Hizballah finance officials.” He is described as the terrorist group’s financial adviser, “carrying out business dealings on their behalf,” in the statement.

The Treasury further claimed that Hezbollah uses Moukalled’s exchange office as a “financial front firm.”

The Lebanese Company for Information and Studies (LCIS) and Lebanese Company for Publishing, Media, and Research and Studies were two further businesses that Moukalled owned or controlled that were also the focus of the sanctions (LCPMR).

Calling back, Moukalled asserted that his firms are “100% above-board” and refuted the accusations.

The action follows the imposition of terrorism sanctions by the United States in December against two accountants and two businesses in Lebanon for providing financial services to Hezbollah.

The sanctions were directed against Adel Mohamad Mansour, executive director of Hezbollah’s previously sanctioned al-Qard Al-Hassan firm, as well as another business he is connected to, al-Khobara for Accounting, Auditing, and Studies.

The company Auditors for Accounting and Auditing, one of its representatives named Naser Hasan Neser, and Hassan Khalil, who according to the Treasury Department has actively assisted Hezbollah in acquiring weapons, are also subject to the penalties.

Patrick Huston
Patrick Huston
As a senior editor, Patrick is a professional who is in charge of putting out business news. As a senior editor, Patrick is likely to be in charge of the duties of junior editors and writers, make sure the content is correct and high-quality, and work with other departments to make sure the business news is published on time. Patrick knows a lot about business and the latest market trends. He uses this knowledge to choose and edit stories that are both interesting and useful to readers. He also works with reporters and analysts to come up with insightful pieces that help readers keep up with the latest business news. Patrick is a very important part of keeping the public informed and interested in important business issues. He is passionate about journalism and strives for excellence.
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