US Treasury: Recent OFAC Actions

[Dalite]

Probably nothing to be concerned about. Treasury has removed an individual from the OFAC SDN list

Recent OFAC Actions

9/1/2011 Page Content​OFFICE OF FOREIGN ASSETS CONTROL

Specially Designated Nationals List Update

The following deletions have been made to OFAC's SDN list: ALI, Ali Abdul Mutalib, Germany (individual) [iRAQ2]

Recent OFAC Actions

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Definition:

"Specially designated nationals" are organizations and individuals who are restricted from doing business with the United States or American companies, or Americans.. This includes terrorist organizations, individual terrorists, and state sponsors of terrorism (such as Iran, and North Korea). The list of "specially designated nationals" is maintained by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC).

SDN / OFAC brief info

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Info on involvement, Excerpt

DETAILS ON IRAQ'S PROCUREMENT NETWORK

Henry B. Gonzalez, (TX-20)

(House of Representatives - August 10, 1992)

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MILITARY INDUSTRIALIZATION BOARD

MIMI used a modern programming-planning process to coordinate the complex task of meeting the foreign technology needs of the various military industrial facilities. The key organization within MIMI responsible for meeting the foreign equipment needs of the various Iraqi establishments was the Military Industrialization Board [MIB]. This Board or Commission had a division of research and development and a division of planning, continuity, and technology.

The MIB gathered equipment orders from various Iraqi factories and compiled a list of the needed equipment into a lengthy document or shopping list. For example a typical list would contain equipment and raw materials orders from several Iraqi weapons factories.

The list was then forwarded via diplomatic pouch, to Ali Mutalib Ali the commercial attache at the Iraqi Embassy in Germany. German and United States intelligence agencies identify Mr. Ali as a key operative in Iraq's procurement networks as well as an Iraqi intelligence agent.

Upon receipt of the equipment list, Mr. Ali forwarded the list of the United Kingdom-based front company called the Technology Development Group [TDG]. TDG then would send a copy of the equipment list of Matrix-Churchill Corp. in Cleveland, OH. Employees at TDG and Matrix-Churchill were then responsible for finding the needed equipment, gathering technical specifications, getting price quotes, and sending that information back to the Iraqi end user. If needed, TDG and Matrix-Churchill would arrange meetings between representatives of the Iraqi end user and the potential supplier. Sometimes the front companies like TDG and Matrix-Churchill would purchase the technology directly from the supplier and ship it to Iraq. On other occasions the Iraqi end user would purchase the technology directly from the supplier, and sometimes financing from one of Iraq's banks here or in Europe was arranged to pay for the equipment.

Congressional Record

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Make of this what you will.

It probably has no bearing on us, but it involved Treasury and an action concerning a national in Saddam's time.

It is not Ali of Dinar Trade.......

I get these notices from OFAC, and though this may be worth sharing.

It is posted in Opinion, rather than news, as it has only partial info and my notes.

This would be a long post if the Congressional Escord testamony was posted in it's entirety..

[wpsmit]

RV,RV,RV!

[mojack]

Ali Abdul Mutalib was an integral part in Iraq's military procurement. Germany was the hub of Iraq's military purchases in the 1980s. Ali Abdul Mutalib, was allocated billions of dollars to spend each year on German military industry imports.

Edited September 1, 2011 by mojack