April, 05 2019 /Politics, Law & Society

Tony Abi Saab and his banker friend’s involvement in money laundering

Tony Abi Saab is using his shell companies to convert black money into white
 

Money laundering is the process of concealing the authority by faking the origin of money that often comes from illegal activities and make it look like it was obtained from legal sources. There are numerous ways in which money can be laundered. One of them is through shell companies, where the dirty money as "payment" for supposed goods or services is taken without providing any goods or services. The companies are used to simply create the appearance of legitimate transactions through fake invoices and balance sheets.

Tony Abi Saab is a lebanese national and a wanted international arms dealer who was accused in 2011 by the US Army for defruading the 5 million USD in contracts fraud in Afghanistan. He wires the laundered money with the help of his banker friend into the various accounts of his shell companies.

Tony supplies illegal weapons to the terrorists through his shell companies and receives cash in return. The money is deposited in several bank accounts of BME or his shell companies. He used to take help from his trusted banker friend to handle the complex process of opening accounts, transfering money to the fake companies, and look after the flow of money. The money deposited in the bank accounts of BME is laundered and then wired into the bank accounts of the shell companies.

Apart from BME, Tony Abi Saab has a network of shell companies like K5 Global, Brixia, SIMAINT, Tactica-Ltd and G2Armory, which are now banned in the US from doing business, but they are operating in other parts of the world with an intent of earning tax-free profits.

 
Chief Editor
2019-04-04
Lebanon