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U.S. Raids, Blocks Assets of Terror-Funding Groups
Wednesday, November 7, 2001
(7:37 PM ET)
By Arshad Mohammed / Reuters

President George W. Bush speaks at the Treasury Department's Financial Criminal Enforcement Center in Vienna, Virginia, November 7, 2001 as U.S Attorney General John Ashcroft looks on. U.S. agents raided financial groups around the nation suspected of funding Osama bin Laden today as Bush unveiled a crackdown to choke off the Saudi-born militant's money supply.
Photo Credit: Win Mcnamee / Reuters.

Although few details were available, the White House said the United Arab Emirates had seized assets and records of Al Barakaat, while Italy and Lichtenstein had taken "enforcement action" against al Taqwa as part of the global crackdown.

WASHINGTON -- Reuters
U.S. agents on Wednesday raided offices and froze assets of two "terrorist-supporting" financial networks that officials said provided money, weapons and communications for Osama bin Laden's al Qaeda group.

In raids from Minnesota to Massachusetts, the U.S. Treasury blocked the assets of 62 people and groups suspected of funding the Saudi-born militant, who is believed to have masterminded the Sept. 11 attacks on New York and Washington.

U.S. officials identified the two networks as Al Taqwa, an association of offshore banks and money management firms that have moved al Qaeda cash around the world, and Al Barakaat, a group of money-wiring and communications companies owned by a friend and supporter of bin Laden.

Authorities also gave an alternative spelling, Barakat, for the latter financial group.
(More: Reuters News Source)
2001 © Reuters.

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