US accuses two money dealers of laundering

Halawi Exchange will resort to US courts

Rmeiti Kassem & Co Exchange and Halawi Exchange have both been designated by the US as a “primary money laundering concern”. A statement issued by the US Treasury Department on April 23 accused the two local money exchange firms of “laundering millions of dollars of narcotics profits and funneling the money to Hezbollah”.

It said the two exchange houses picked up the work of the two firms that were exposed in 2011 as part of a money laundering network: Hassane Ayash Exchange and Ellissa Exchange.

“We utterly deny these accusations,” said Mahmoud Halawi, owner of Halawi Exchange. “Our firm will resort to the US judiciary because we trust its justice and integrity,” he said.