The United States imposed on Wednesday new sanctions on 52 people and companies based in nine countries for assisting Lebanese businessman and art collector Nazem Said Ahmad, accused by Washington of financing Hezbollah.
In a press statement, the US Department of State said that in coordination with the Department of Treasury, it is taking actions against a global sanctions evasion network that facilitates the payment, shipment, and delivery of cash, art, and luxury goods for the benefit of Hezbollah financier and Specially Designated Global Terrorist Nazem Said Ahmad.
The Treasury Department is designating this network and the State Department is re-advertising its reward offer of up to $10 million for information on Hezbollah's financial mechanisms, including Ahmad, the statement noted.
It added that these actions are being coordinated among the Departments of State, the Treasury, Justice, Homeland Security, and Commerce, as well as with the United Kingdom, to target on elements of the network.
“Today’s actions highlight the tactics used by sanctions evaders, trade-based money launderers, and supporters of terrorism, as well as the risks of conducting business in permissive industries, such as the art, diamond, and precious gems markets,” the State Department statement noted, adding that, “We will continue to hold accountable those who would seek to harm the United States and our partners.”
In another statement, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) said it designated a vast international money laundering and sanctions evasion network of 52 individuals and entities in Lebanon, the United Arab Emirates, South Africa, Angola, Côte d’Ivoire, the Democratic Republic of the Congo, Belgium, the United Kingdom, and Hong Kong.
“The network designated today includes dozens of individuals and their associated companies involved in assisting Nazem Said Ahmad in evading US sanctions to maintain his ability to finance Hezbollah and his luxurious lifestyle,” it said.
Meanwhile, the Justice Department announced that it started the prosecution of Ahmad on charges of evading US sanctions imposed on him by exporting hundreds of millions of dollars worth of diamonds and artwork.
It said entities controlled by or operating for the benefit of Ahmad engaged in more than $400 million worth of financial transactions between January 2020 and August 2022 and that the conspirators were responsible for exporting more than $234 million of goods from the US between December 2019 and December 2022, consisting primarily of diamonds and artwork; and approximately $160 million worth of transactions involved the US financial system.
In 2019, the US had imposed sanctions on Nazem Said Ahmad, Saleh Assi and Tony Saab for funding Hezbollah.
Ahmad owns a large collection of art works. The US said he materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of Hezbollah.
As of late 2016, Ahmad was considered a major Hezbollah financial donor who laundered money through his companies for Hezbollah and provided funds personally to the party’s Secretary-General Hassan Nasrallah.
Ahmad is a founder, chairman, authorized signatory, and majority shareholder of Beirut Diam SAL, Beirut Gem SAL, Debbiye 143 SAL, Damour 850 SAL, Gebaa 2480 SAL, Noumayriye 1057 SAL, and Nour Holding SAL.
Ahmad is a chairman, authorized signatory, and majority shareholder of Montecarlo Beach SAL, Beirut Trade SAL, and Blue Star Diamond SAL – Offshore. He is also a founder, chairman, and authorized signatory of Aramoun 1506 SAL.
The Treasury said Ahmad, who has a vast art collection, is one of Hezbollah top donors, generating funds through his longstanding ties to the “blood diamond” trade.
He is also accused of hiding personal funds in high-value assets in an attempt to mitigate the effects of US sanctions.
The Treasury said Ahmad also maintains ties to several US-designated Hezbollah financiers and associates, including Kassim Tajideen and Mohammad Bazzi.
In early 2019, Ahmad was involved in a bank loan with Adham Tabaja and he is also close to US-designated Hezbollah officials, to include Nasrallah and the party’s representative to Iran, Abdallah Safi-al-Din.
Additionally, according to press reporting, Ahmad purchased a tract of land in Lebanon for $240 million. A major investor in the transaction was a relative of US-designated Ali Tajideen, a Hezbollah fundraiser and former Hezbollah commander.
The investor acquired the funds from conflict diamond and mineral dealers, and Treasury-designated Hezbollah front companies.
In London, a 50-year-old man has been arrested on suspicion of funding terrorism.
Officers said the police detained the man in Wales and then transferred him to London.
His arrest relates to art collector and diamond dealer Nazem Ahmad.
Officers from the National Extradition Unit - acting on an international arrest warrant - detained another man on Tuesday in west London, also related to Ahmad.
