Former bank staffer accused of drug money laundering

Fenecia Bank denies connection to the actions of three-man drug ring

A former bank employee of Fenecia Bank has been identified by the US Treasury as facilitating “the movement of millions of dollars or narcotics-related proceeds.”

The treasury identified Ibrahim Chibli, a former manager of the banks’ Abbassieh branch, as having used his position to facilitate movement of money for both drug kingpin Ayman Joumaa, and Abbas Hussein Harb, whose Columbia- and Venezuela-based organization “launders money for the Joumaa network through the Lebanese financial sector,” the treasury said.

In a statement, Fenecia Bank said they have no connection to the acts committed by the three individuals named. “One of the individuals named was a former employee of the bank, but left the bank around one year ago,” the statement said.

The bank said it pursues its activities in accordance with banking rules, regulations, and standards adopted locally and internationally. It said the bank is committed to following the circulars issued by the Central Bank, the banking regulatory authority, and the Special Investigation Commission, regarding money laundering.

This is not the first local bank to come under a shadow of suspicion from the US Treasury, which earlier identified Lebanese Canadian Bank and being involved in money laundering activities.

“The Joumaa network is a sophisticated multi-national money laundering ring, which launders the proceeds of drug trafficking,” said US under secretary for Terrorism and Financial Intelligence, David S. Cohen. “We and our partners will continue to aggressively map, expose, and disable this network.”

Reported by Hani Bathiche