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Cary, Nc Car Dealership Settles Claims Of Terrorist Money Laundering


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#1 Proudiddy

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Posted 23 May 2012 - 12:32 PM

http://www.wral.com/...story/11125658/

Cary, N.C. — A used-car dealership in Cary agreed Monday to forfeit money in a bank account to the federal government to settle a civil suit that alleged the business was laundering money for the Lebanon-based terror organization Hezbollah.
The government filed the civil asset forfeiture action last December in New York against 30 car dealerships from Michigan to Florida, including Cary Auto Sales, and bank accounts tied to the businesses.

Authorities allege that money was wired from Lebanon to the U.S. to buy used cars. The vehicles were then moved to West Africa and resold, and cash from the sales was mixed with profits from illegal drug distribution and funneled back to Lebanon to fund terrorist activities.

The government, which was trying to seize $400 million in assets in the case, lists Hezbollah as the most technically capable terrorist group in the world, with strong ties in Syria and Iran.

Cary Auto Sales was linked to more than 100 suspect wire transfers, totaling $4 million, according to court documents.
The settlement, which dealership attorney Dan Boyce said the government is expected to sign, notes that Cary Auto Sales wasn't directly involved in funneling money to Hezbollah and that there is no suggestion that owner Bassam Hanna was connected to the terrorist group.

As part of the settlement, Hanna will forfeit an undisclosed amount of cash from a BB&T account and will implement anti-money laundering guidelines for future sales.

Boyce said Hanna is relieved to put the allegations behind him and move on.


So, what was really resolved by this? How is there any gray area here? Why is this guy still allowed to own this business or operate it.

#2 mmmbeans

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Posted 23 May 2012 - 12:35 PM

probably because the guy didn't realize he was laundering money.

#3 Darth Biscuit

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Posted 23 May 2012 - 12:37 PM

Wow, they weren't "directly" involved... ok, that makes it all better. Sure, they knew nothing... everything's ok, nothing to see here...

#4 Gazi

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Posted 23 May 2012 - 12:45 PM

probably because the guy didn't realize he was laundering money.


this

#5 Proudiddy

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Posted 23 May 2012 - 01:17 PM

probably because the guy didn't realize he was laundering money.


But the article is saying he initially received wire transfers from Lebanon, bought cars, then sold them to/in West Africa, then put the profits back in a pool with money from other illegal activities in Lebanon.

I have no idea how this guy wouldn't know something along this cycle he was involved in was illegal.

#6 mmmbeans

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Posted 23 May 2012 - 01:20 PM

But the article is saying he initially received wire transfers from Lebanon, bought cars, then sold them to/in West Africa, then put the profits back in a pool with money from other illegal activities in Lebanon.

I have no idea how this guy wouldn't know something along this cycle he was involved in was illegal.


it doesn't say that's what he did, it says that's what happened to the cars... near as i can tell all he did was sell some cars, what was done with them after that point...


maybe he knew more, maybe he didn't, but if it was illegal he would be in jail or worse. it evidently wasn't illegal.

#7 Proudiddy

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Posted 23 May 2012 - 01:29 PM

it doesn't say that's what he did, it says that's what happened to the cars... near as i can tell all he did was sell some cars, what was done with them after that point...


maybe he knew more, maybe he didn't, but if it was illegal he would be in jail or worse. it evidently wasn't illegal.


You are clearly able to read that without making assumptions, while I am not, lol. I don't know... I used to work at a dealership and I know how the process works with wholesales. I have no idea why this guy would go in and buy cars and then just give them away, sell them to, or ship them off to Africa without knowing he would get some benefit out of it aside from the money or without having ulterior motives.

#8 mmmbeans

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Posted 23 May 2012 - 01:33 PM

it doesn't make sense that he would know anything... it would be a risk to the operation... If you were laundering money through someone would you tell them that you were doing it?

#9 Proudiddy

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Posted 23 May 2012 - 01:39 PM

it doesn't make sense that he would know anything... it would be a risk to the operation... If you were laundering money through someone would you tell them that you were doing it?


Nope, great point. I was operating under the notion that he was knowingly laundering it and couldn't really see any other way around it until you just typed that.

I guess it would be easier to understand how he was unaware of what was going on if there were more details included in the article.

Either way, this can't be good for business. I would want people to know exactly what was going on and how I was duped to keep from losing business.

#10 Jase

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Posted 23 May 2012 - 01:40 PM

it doesn't make sense that he would know anything... it would be a risk to the operation... If you were laundering money through someone would you tell them that you were doing it?


Or maybe that's just what he wants you to think.

#11 mmmbeans

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Posted 23 May 2012 - 01:49 PM

Or maybe that's just what he wants you to think.


Boom.

#12 CatofWar

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Posted 23 May 2012 - 02:12 PM

Well thank god it was cars instead of cigarettes

#13 Brokenbad

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Posted 24 May 2012 - 07:53 AM

Well thank god it was cars instead of weapons


Fixed

#14 CatofWar

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Posted 24 May 2012 - 09:27 AM

Fixed


You apparently didn't get that reference.

#15 SN03

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Posted 24 May 2012 - 11:07 AM

The government just wants their cut.


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