US Prosecutors Chase Diamonds from "Hezbollah Boss"

By John Jeffay / August 27, 2023 / www.idexonline.com / Article Link

(IDEX Online) - Federal prosecutors in the USA have filed documents to seize 35 more diamonds, a number of artworks and sculptures and $2m in cash from Nazem Said Ahmad, alleged financier of the Hezbollah terror group in Lebanon.In April OFAC, the US Treasury Department's Office of Foreign Assets Control blacklisted 52 individuals and entities which, it said, had been supplying cash, precious gems, art, and luxury goods to Ahmad.It described him as a "diamond smuggler and art collector [who] dealt in millions of dollars of goods and services in violation of the global terrorism sanctions regulations".In the latest development, on 16 August, court documents were filed for the forfeiture of a 2.4-carat "green diamond cushion modified brilliant cut ring," and 34 other diamonds.The US government has previously sought the forfeiture of over 450 diamonds and 100 pieces of artwork.Ahmad, together with eight co-defendants, has been charged with conspiring to defraud the US and other governments, evading U.S. sanctions and customs laws and conducting money laundering transactions. The forfeitures will be made if and when Ahmad is convicted.Pic of Nazem Said Ahmad with paintings he allegedly commissioned, courtesy of the US Justice Department

Recent News

Smaller juniors still financed even in more cautious market

January 13, 2025 / www.canadianminingreport.com

Gold stocks shrug off equity market decline on metal gain

January 13, 2025 / www.canadianminingreport.com

Geopolitical risk outlook unclear after US election

January 06, 2025 / www.canadianminingreport.com

Low valuations offer a cushion to mining sector

January 06, 2025 / www.canadianminingreport.com

Polarized gold and iron ore moves, moderate aluminum and copper gains

December 30, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok