The art of funding: Nazem Ahmad's alleged connection to Hezbollah

In commemoration of the 40th anniversary of the bombing of the US embassy in Beirut, the US State Department has announced a $10 million reward, through the Rewards for Justice Program, for anyone who provides information on Lebanese businessman and art collector Nazem Ahmad, whose name has been on the US sanctions list since 2019 for allegedly funding Hezbollah.

Hours later, the US Treasury Department's Office of Foreign Assets Control (OFAC) imposed a series of sanctions on 52 individuals and entities in nine countries across Europe, Asia, and Africa, including Lebanon, the United Arab Emirates, and South Africa.

How can a person on the sanctions list carry out financial transactions that exceeded $400 million between 2020 and 2022, including $160 million through the US banking system, according to figures from the US Department of Justice?

However, the list of charges alleges that Ahmad, in cooperation with a small family circle that includes his children, Firas and Hind, Rima Baker, his wife, and her brother, Rami Baker, as well as several employees and companies.

Moreover, they conspired to defraud the United States by evading US sanctions and customs laws. They also engaged in money laundering transactions by buying and selling jewelry, antiques, and paintings and transferring money illegally.

At the same time as the US decisions, Ahmad's accountant was arrested in the United Kingdom at the request of the United States.

Furthermore, Nazem Ahmad is considered one of Africa's most important diamond traders as he raises funds through his long-standing relationships in the diamond trade in war and conflict zones. He also runs companies in Belgium, Europe, and Africa.

In addition, he collects and trades paintings in his collection, which includes masterpieces by the most prominent artists throughout history, such as Pablo Picasso, Antony Gormley, and Andy Warhol.

According to the US State Department, Ahmad has direct ties to several individuals who have previously been on the sanctions list for similar charges, including Kassem Tajeddine, Mohammad Bazzi, and Adham Tabaja, as well as direct relations with Hezbollah representative in Iran, Abdullah Safi Al-Din.