The U.S. Treasury Department said Thursday it sanctioned two Lebanese-Colombian nationals under the Kingpin Act for their activity in laundering drug money.

Along with Jorge Fadlallah Cheaitelly and Mohamad Zouheir El Khansa, the Treasury said it designated nine other individuals, including a sibling of Cheaitelly, as well as 28 entities linked to them spread across Colombia, Panama, Lebanon and Hong Kong.

“By designating these individuals and companies, we are exposing a significant international money laundering network, forcing them out of the international financial system and undermining their ability to launder drug money through a global support network for the Mexican and Colombian drug cartels,” said Adam Szubin, director of the Treasury’s Office of Foreign Assets Control, in a statement.

Cheaitelly, Treasury said, leads a Panama-based drug trafficking and money-laundering organization that stretches across the Americas, the Middle East and Hong Kong.

11:52 am  •  29 December 2011  •  1 note