Ben Ali and his family members are being sought for the illegal acquisition of assets and illicit transfers of funds abroad. These types of monetary transactions will most likely bring the former leader within OFAC’s radar.
OFAC specifically looks for illegal financial transactions in the international market. If OFAC believes the funds are related to illegal activity, it will not hesitate to place Ben Ali and his associates on the Specially Designated Nationals List (SDN List).
Ben Ali needs to realize that an OFAC designation may be near. The fact that authorities have already frozen assets belonging to Ben Ali’s family and his in-laws in Tunisia and in Switzerland is a red flag that OFAC is watching this situation closely.
If OFAC places Ben Ali on the SDN List, his assets relating to the U.S. will be frozen, and those under U.S. jurisdiction will be forbidden from engaging in any financial transaction with the former President. This may be significant to Ben Ali, particularly if he has assets in a U.S. foreign correspondent bank or in dealings with any entity with ties to the U.S.
Douglas McNabb and other members of the firm practice and write extensively on matters involving Federal Criminal Defense, Interpol Litigation, International Extradition and OFAC Litigation.
The author of this blog is Douglas McNabb. Please feel free to contact him directly at firstname.lastname@example.org or at one of the offices listed above.