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Thursday, November 06, 2008

The Hawaladar is Convicted of Trying to Fund al Qaeda

Found this at Islamic Finanace.

The Department of Justice Just convicted a Hawaldar of deliberately funding money transfers from US government agents presenting themselves as arms and drug runners trying fund al Qaeda. Hawalas in Canada, England, Spain, Pakistan, Japan and Australia all participated in the Scheme.

This illustrates that either the system is so corruptable that that no checks and balances were put in place, or that many many Hawals are deliberately cooperate with terrorists.

Which is true?

-Shimron Issachar

Baltimore, Maryland - U.S. District Judge Marvin J. Garbis sentenced Saifullah Anjum Ranjha, age 45, a Pakistani national residing in Washington, D.C. and Maryland, today to 110 months in prison, followed by three years of supervised release, for conspiring to launder money and for concealing terrorist financing, announced United States Attorney for the District of Maryland Rod J. Rosenstein. Judge Garbis also signed a preliminary order forfeiting $2,208,000 of Ranjha's assets.

"The hawala system can be used by criminals to launder money without using financial institutions, by giving the money to a person in the United States and picking it up in a foreign country," said U.S. Attorney Rod J. Rosenstein. "Identifying hawala networks that violate the law often requires the cooperation of international authorities."

"As the U.S. financial industry strengthens its anti-money laundering programs, the use of the hawala system to move illicit funds becomes increasingly attractive to terrorist and other criminal organizations," stated Scot R. Rittenberg, Acting Special Agent in Charge of U.S. Immigration and Customs Enforcement. "We will continue to work jointly with our domestic and foreign law enforcement partners to investigate the movement of illicit funds via the hawala system."
"Terrorist networks need money to be effective. Fortunately, IRS-CI is effective at following the money to find the source of the crime," said Internal Revenue Service-Criminal Investigation Special Agent in Charge, C. Andre' Martin.

The Rest @ the Federal Bureau of Investigation (DOJ)

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