Cocaine profits made Beirut banks boomApril 27, 2012
You’ll hear a lot more in the coming months about how U.S. law enforcement exposed Hezbollah’s international narco-trafficking money laundering scheme. But lost in the back slapping, attaboys, and high fives among prosecutors and politicians is just how much the scheme enriched the banking system of Lebanon and its Iranian partners.
New American Security senior fellow and money laundering expert David Asher discusses the details during an interesting presentation at the Washington Institute last month. We’ll start the tape as Mr. Asher explains how used cars sold from the Americas made their way to West Africa where the profits were mingled with illegal drug proceeds: