OFAC has targeted what it says is a key Hizballah support network by sanctioning Ali Youssef Charara, said to be one of its financiers, and his company Spectrum Investment Group Holding. In the US Treasury’s press release, Charara is alleged to have received millions of dollars from Hizballah to invest in commercial projects that financially support the group, in addition to having worked on oil ventures in Iraq with previously designated Hizballah associates Adham Tabaja and Kassem Hejeij. This designation is the first of its kind since the passage of the Hezbollah International Financing Prevention Act of 2015.
OFAC has also deleted the listings of a large number of people and entities under its narcotics sanctions, and amended 5 narcotics related listings. The full details of the changes are here.
Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...See profile for Michael O'Kane >