Rewards for Justice is offering a reward of up to $10 million for information that leads to the disruption of the financial mechanisms of Hizballah.
Nazem Said Ahmad is a prominent Lebanon-based money launderer and significant Hizballah financier.
Ahmad is one of Hizballah’s top donors, generating funds through his longstanding ties to the “blood diamond” trade. Hizballah uses Ahmad and his companies to launder substantial amounts of money bound for the terrorist group. As of late 2016, Ahmad was considered a major Hizballah financial donor who laundered money through his companies for Hizballah and provided funds personally to Hizballah Secretary-General Hasan Nasrallah. Ahmad was also involved in “blood diamond” smuggling and formerly ran businesses in Belgium that benefitted Hizballah.
Ahmad stores some of his personal funds in high-value art in a preemptive attempt to mitigate the effects of U.S. sanctions, and he opened an art gallery in Beirut as a front to launder money. Ahmad has an extensive art collection worth tens of millions of dollars, including works by Pablo Picasso and Andy Warhol, many of which have been on display in his gallery and penthouse in Beirut. Through bulk cash transfers and illicit financial transactions, Ahmad has sought to protect his assets from legitimate taxation. In concealing his ill-gotten gains from the Lebanese government, Ahmad has deprived the government and the Lebanese people of much needed tax revenue while the country faces serious economic challenges.
On December 13, 2019, the U.S. Department of the Treasury designated Ahmad as a Specially Designated Global Terrorist pursuant to Executive Order 13224 for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of Hizballah. As a result of this designation, among other consequences, all property and interests in property of Ahmad that are subject to U.S. jurisdiction are blocked, and U.S. persons are generally prohibited from engaging in any transactions with Ahmad. In addition, it is a crime to knowingly provide, or attempt or conspire to provide, material support or resources to Hizballah, a U.S.-designated Foreign Terrorist Organization.
