A Lebanese money dealer who allegedly moved around tens of millions of dollars a week in laundered drug money was slapped with sanctions by the U.S. Treasury on Thursday.
Kassem Chams was designated under the Foreign Narcotics Kingpin Designation Act after his money services business (MSB) was deemed to be a money laundering outfit affiliated to Hezbollah, the Shiite militant group.
“We are targeting the financial infrastructure of these narcotics traffickers as part of this administration’s unprecedented campaign to prevent Hezbollah and its global terror affiliates from profiting off violence, corruption, and the drug trade,” said Sigal Mandelker, U.S. undersecretary for terrorism and financial intelligence.
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