Financial Crime World

Title: International Arrest Warrants Issued in Togo against Suspected Money Launderers with Drug Trafficking Ties

In a significant step towards combating money laundering activities with alleged ties to drug trafficking, the Togolese justice system issued international arrest warrants on Monday, April 12, 2021. These individuals, primarily resident aliens, have been suspected of engaging in such illicit activities using local companies specializing in the import of second-hand cars as a cover.

US Lawsuit against Lebanese Financial Establishments

This development comes soon after US authorities filed a lawsuit against several Lebanese financial establishments for allegedly abetting the laundering of $483 million for the terrorist movement Hezbollah. Drug trafficking was identified as the primary source of these funds.

Togo’s Ongoing Battle against Drug Trafficking, Money Laundering, and Terrorism

Togo, in its determination to eradicate drug trafficking, money laundering, and the war on terror, has been benefitting from the assistance of international agencies. Collaboration includes exchanging critical intelligence and technical expertise.

Implicated Entities

According to the lawsuit filed in the South District Court of New York, the following entities are identified as part of the money laundering scheme:

  • Lebanese Canadian Bank
  • Ellissa Holding Company
  • Hassan Ayash Exchange Company
  • Cybamar Swiss GMBH
  • Nomeco SARL
  • Marco SARL
  • Salhab Travel Agency

Money Laundering Scheme Details

The drug trafficking proceeds were wired from Lebanon to the United States, used to purchase second-hand cars, and subsequently sent back to Lebanon through a complex financial network set up by Hezbollah, involving West African countries Togo and Ghana. A portion of the money was reportedly transferred directly to Hezbollah.

Hezbollah’s Togo Network and Ongoing Investigation

One of Hezbollah’s operational agents, Oussama Salhab, is believed to have headed the Togo network. The ongoing investigation will uncover further details about the extent and complexity of this money laundering scheme.

West African Nations’ Commitment to Eliminating Transnational Crimes

Togo and other West African nations remain dedicated to eradicating drug trafficking, money laundering, and other transnational crimes. Authorities, with the support of their international partners, will take robust action against these threats to maintain security and stability within their borders.