OFAC Targets Hezbollah Money Exchanger, Related Entities
The Office of Foreign Assets Control this week designated three people for their financial support of Hezbollah, including Hassan Moukalled and his business CTEX Exchange. OFAC sanctioned Moukalled, a Lebanese money exchanger, and CTEX for working closely with Hezbollah financiers to help the group "establish a presence" in Lebanon's financial system. Moukalled serves as a financial adviser to Hezbollah and does business on behalf of the group, representing it in financial negotiations, the agency said. In addition, OFAC designated Moukalled's two sons, Rayyan and Rani, who OFAC said support their father and his business with Hezbollah.
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The agency also sanctioned the Lebanese Company for Information and Studies (LCIS) and the Lebanese Company for Publishing, Media, and Research and Studies (LCPMR), both of which are owned or controlled by Moukalled. OFAC said Moukalled is the editor in chief for LCIS and the director of the LCPMR.