Skip to comments.REPORT ON ILLEGAL FINANCIAL ACTIVITIES AND TERRORISM
Posted on 08/09/2004 5:15:02 PM PDT by Darko
REPORT ON ILLEGAL FINANCIAL ACTIVITIES AND TERRORISM FINANCING ON THE TERRITORY OF THE FEDERATION OF BOSNIA I HERZEGOVINA PART I/I/ABIHBQ 08/2003 by JEAN-CHARLES BRISARD, LEAD INVESTIGATOR, 911 LAWSUIT :
Bosnian banks Vakufska Banka D.D. and Depozitna Banka D.D. have supported, facilitated and participated in terrorism financing on the territory of Bosnia Herzegovina. These banks were funded by two SDGT, Yasin Al Kadi and Chafiq Ayadi, along with a Saudi-controlled offshore company based in the Isle of Man, whose main shareholder is a member of the Saudi royal family, nephew of King Fahd and son of the Saudi Deputy Minister of Interior. Other shareholders of the banks have also supported terrorism in the past. The bank has provided financial support to several organizations acting as fronts for Al-Qaida, including Muwafaq Foundation, Al Haramain Islamic Foundation and the Saudi High Commission for Relief in Bosnia Herzegovina, some of which have already been designated as SDGT by the US Government.
In further text, we are going to let you know some details from this REPORT.
Vakufska Banka D.D. (aka Vakufska Bank) is registered in Sarajevo, Bosnia & Herzegovina, with an address at Ferhadija 2, 71000, Sarajevo, Tel: +387 71 470903, Fax: +387 71 2005971. The bank was founded in 1992 in Sarajevo, and is currently chaired by Amir Rizvanovic, serving as General Director. Vakufka Banka has 70 employees and maintains several branches in Bosnia & Herzegovina (Zenica, Mostar, Bihac ) and banking correspondents in several European countries (Italy, Germany, Belgium ).
In 2002, Vakufska Banka reported a capital of 16.4 million KM ($9,300,000 US), while its total assets raise 55,920,000 KM ($28,670,000 US) for the same year.
In August 2002 the Bosnian Federal Banking Agency authorized the merger of Vakufska Banka and Depozitna Banka.
Depozitna Banka D.D. was a private bank owned by Yasin al Kadi (44.3%) and Mahmal Investments Company based in the Isle of Man (44.2%). The entity was under Bosnian and foreign investigation for years. The official documentation dated 2000 from Depozitna Banka D.D. , based in Vrazova 9, Sarajevo, shows that Yasin al Kadi was the first shareholder of the bank.
The shareholding structure of Depositna Banka D.D., as of December 31, 2000 (Before merging with Vakufska Banka D.D.), was as follows:
Name Percentage of shares held Yasin Kadi 44.3% Mahmal Invest Co Limited 44.2% BH Banka Sarajevo 2.4% BH Osiguranje 2.1% Centralexport Sarajevo 1.3%
Since October 2001, Yasin al Kadi (aka Yassin Qadi, Yasin al-Qadi), 47, is labeled by the U.S. Treasury, as a Specially Designated Global Terrorist (SDGT) and his assets are frozen in the U.S. and Europe. Yasin al Kadi is at the center of various financings through his company Qadi International and financial activities in the Balkans.
Even if he is still at large in Saudi Arabia, where he resides, Yasin al Kadi is one of the six directors of Muwafaq Humanitarian Organization, an organization that provided assistance to the Al-Qaida network. In June 1998, Yasin al Kadi is named in an FBI report on money laundering charges at the profit of Hamas, a terrorist organization.
Muhammad, Chafiq Ayadi (Aka. Ayadi Shafiq, Ben Muhammad; Aka. Ayadi Chafik, Ben Muhammad; Aka. Aiadi, Ben Muhammad; Aka. Aiady, Ben Muhammad), (01/21/63 Safais, Tunisia) , took part in activities of Depozitna Banka and became in 1996 co-owner of Depozitna Banka in Sarajevo . Chafiq Ayadi is a Tunisian national but also holds Bosnian citizenship. Chafiq Ayadi was a business associate of Yasin al Kadi.
Chairman of Muwafak Foundation in Zagreb, Croatia, Chafiq Ayadi is on the list of Specially Designated Global Terrorists, pursuant to Executive Order 13224. In April 1996, a sum of USD 500,000 was transferred to the SKB account of Bin Muhamad Chafiq Ayadi by a Saudi national, Salem Bin Mahfouz (believed to be Khalid Bin Salem Bin Mahfouz). Chafiq Ayadi became the majority owner of Depozitna Banka on July 27, 1995. Chafiq Ayadi accounts have been recently investigated by Croatian financial police on terrorism charges. While Chafiq Ayadi was the co-owner of Depozitna Banka, he transferred through the bank DM 2.5 million to the account of the Muwafaq Foundation. Furthermore, Chafiq Ayadi became also co-owner of Euroinvest D.O.O. in Sarajevo, which shared the same address as Depozitna Banka. The second co-owner of Euroinvest D.O.O. used to be Yasin al-Kadi, who was also co-owner of Depozitna Banka and became co-owner of Vakufska Banka . Chafiq Ayadi left Depozitna Banka in September 2000. He sold his shares to Yasin al Kadi. On March 30, 2001, the Banking Agency rescinded the Depozitna Bankas permit, and the bank merged with Vakufska Banka. Euroinvest D.O.O., based in Bosnia with an address at Ulica Armije BH bb, 75264 Lukavac, was one of the most regular provider of Al Haramain Al Masjed Al Aqsa charitable foundation during the 2000-2001 period .
Based on al-Kadi's previous shares in "Depozitna Banka", he should earn 20% of the shares of Vakufska Banka, nominally worth 3.2 million KM ($1,815,000 US). According to intelligence sources, Yasin al Kadi is still co-owner of Vakufska Banka through another Sarajevo front company. Indeed he was already the main shareholder into Depozitna Banka when the entity merged with Vakufska Banka. During years, Depozitna Banka and then, Vakufska Banka, were owned by Saudi businessman Yasin Al Kadi, under US investigation for terrorism charges and by a Saudi shadow company called Mahmal Investment Company, currently under Bosnian investigation by the FOSS, Financial Police and Federal Banking Agency.
Moreover, according to the official registry of Vakufska Banka hareholders, El Tarik Oil D.O.O., an oil company based in Sarajevo, was also shareholder with 8% of Vakufska Banka capital in year 2000. Another documented report from the Bosnian Financial Police indicates in 2002 that El Tarik Oil D.O.O. is a regular provider for the Saudi High Commission and al Haramain al Aqsa foundation in Sarajevo , both involved in logistical support to al-Qaida. Finally, among the Vakufska Banka shareholders also stands a foundation called Fondacija Bosnjaci Mostar and Rijaset Islamke Zajednice, their shares are respectively 18% and 11% in year 2000 . Both foundations receive donations from abroad, and particularly from Saudi Arabia.
Nezim Halilovic Muderis, director of Wakf Directorate of the BiH Islamic Community, responsible for these foundations, is a preacher at the Sarajevo King Fahd Bin Abdulaziz Al Saud Mosque. Rijaset Islamke Zajednice, or Islamic Community of Bosnia Herzegovina publishes the monthly Preporod (Renaissance). In one of its issues in May 1992, the newspaper stressed the virtues of the Islamic warefare to the fighters for the independent and multinational Bosnia and Herzegovina, advising them to purify themselves so that they could feed on the Divine spring. In the text entitled We feel no fear, Preporod gave these pieces of advice in a text which looks remarkably similar to Mohamed Attas last instructions to the September 11 hijackers:
Set out to the battle with pure intentions and full confidence in Allah - if you survive, you will become heroes; if you are killed, you will be martyrs, otherwise - you will lose both and be humiliated; if possible, start off with ablutions, but always with God's name in your heart and on your lips; you must never leave unwashed (after nocturnal emission or marital intercourse) for such person could cause adversity both to himself and others; during your assault at or confrontations with the enemy, utter the cries "Allah ekber!"; if possible, carry the Koran with you.
The shareholding structure of Vakufska Banka for years 2000 (before merger) and 2001 (post merger) was the following (note that total percentage does not equal 100%) :
Name % of shares in 2000 % of shares in 2001 Individual investors 29% 36.6% Mahmal Investment Co Limited - 21.1% Fondacija Bosnjaci Mostar 18% 8.8% Finance Ministry 74% 6.9% Rijaset Islamske Zajednice BiH 11% 5.1% Tarik El Oil d.o.o. Sarajevo 8% -
According to a sworn statement filed by FBI Special Agent Robert Wright, BMI had receive financing from [Yassin Kadi] and United States designated HAMAS terrorist [Musa abu Marzook]. In October 2001, the U.S. Treasury Department froze the assets of Yassin Kadi and listed him as a Specially Designated Global Terrorist, citing his financial support for Al-Qaeda through a relief organization called Muwafaq, or Blessed Relief. Agent Wright had initially investigated BMI as part of an ongoing Hamas fundraising investigation in the United States. According to an Affidavit filed by Wright, Yassin Kadi put up $820,000 for a real estate deal structured to funnel proceeds to Hamas operative Mohammed Salah. And : But by then, it was hardly a secret that BIF was involved in more than just charitable activities. The entity openly advertised itself in its Arabic-language fundraising appeals as a trustworthy hand for the support of [both] the mujahideen and refugees in Bosnia. Similarly, documents taken from BIFs U.S.-based offices in December 2001 included handwritten Arabic notations explaining that its headquarters in Croatia was established for relief operations and support of jihad in Bosnia-Herzegovina
Contribute with your mujahideen brothers to repel the Crusader-Zionist attack on Muslim lands. Another handwritten note found in Illinois by investigators revealed BIFs supreme unwritten law: no matter how poor/sick first priority is for mujahideen. The raid of BIFs Illinois office also turned up a number of other documents directly related to the war in Bosnia: a receipt dated July 21. 1994. from the Black Swans Bosnian Muslim commando brigade for 300 blankets and 200 pairs of boots obtained from BIF; a receipt from the BiH army dated June 3. 1994. for 2.000 uniforms, 2.000 pairs of shoes, and ten mass communication stations donated by BIF to this military unit; a request dated December 31.1994. from the Bosnian military for a combat ambulance (later delivered as promised in January 1995);and, a memorandum to BIF director Enaam Arnaout dated November 17.1995. describing the recent contribution of 200 tents to the Muslim army. In an interview conducted in 1992, BIF founder Adel Batterjee denied that his brainchild was actively encouraging its employees to aid or join the militant mujahideen operating in the Balkans; however, he also nonetheless added, if a relief worker decides that he wants to join the fighting forces, we would not stop him.