Still sanctioned

by Jeremy Arbid March 9, 2016

written by Jeremy Arbid March 9, 2016

The sea vessel City of Sidon. Similar ships allegedly provided used vehicle transportation services to the Joumaa organization | CC by 2.0

Merhi Abou Merhi, a Lebanese business tycoon and former board member of IBL Bank, has not been acquitted by federal prosecutors, sources at the United States Department of Justice and the Department of Treasury told Executive March 8. A report carried by Lebanon’s state-run National News Agency (NNA) on March 7 claimed that Abou Merhi, family members and their companies had been acquitted of charges of facilitating a narcotics and money laundering ring overseen by the Joumaa Criminal Organization. The Treasury Department says that the report is false and that sanctions are still in place for the Abou Merhis and 11 companies. “They all remain designated. Claims that Mr. Merhi has been “found innocent of the claims by OFAC” are inaccurate and there has been no action regarding Mr. Merhi that would change his status as a Specially Designated National and Blocked Person,” says Betsy Bourassa, spokeswoman for Terrorism and

Jeremy Arbid

Jeremy Arbid is an energy and public affairs analyst specializing in Lebanon’s oil and gas industry. He was formerly a journalist covering economics and government policy for Executive Magazine in Beirut. His experience includes roles as a policy specialist in Chicago and with the United Nations in Geneva. Jeremy holds a Master's in Public Administration from the American University of Beirut and a Bachelor's in Political Science from Hamline University.

Still sanctioned

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