Honduran football and banking magnates indicted on money laundering charges in us – the tico times

The president of a champion Honduran football club whose home stadium bears his name has been indicted in the U.S. Money laundering terms on money laundering charges linked to drug trafficking.

He and his uncle, Jaime Rosenthal Oliva, 79, and Rosenthal Oliva’s son Yani Benjamín Rosenthal, 50, were indicted for allegedly laundering money and providing other services to drug trafficking organizations through U.S. What is laundering money bank accounts between 2004 and September 2015, according to the indictment.

Yankel Rosenthal, who also served until recently as an advisor to Honduran President Juan Orlando Hernández, appeared before a federal court on Wednesday in a beige prison uniform. Anti money laundering in india His hands and feet were cuffed.

Jaime Rosenthal Oliva — considered one of the richest men in Honduras — and his son have not been arrested, according to the U.S. Anti money laundering certification free Department of Justice.

“Se are wrongly accused,” the statement, which was distributed to news outlets, said. Laundering money through casinos “We strongly reject the accusations made against us and will demonstrate in court that we are innocent.”

In a parallel measure, the U.S. Anti money laundering techniques Treasury Department announced sanctions Wednesday against the three accused Rosenthals and seven of their businesses under the Kingpin Act. Examples of anti money laundering The Treasury said the three men “provide money laundering and other services that support the international narcotics trafficking activities of multiple Central American drug traffickers and their criminal organizations.”

The Kingpin Act, officially titled the Foreign Narcotics Kingpin Designation Act, allows the U.S. Money laundering placement to freeze any assets or businesses under U.S. Fraud and money laundering jurisdiction that are owned by targeted individuals. Anti money laundering examples Also, U.S. Money laundering uae citizens are generally not allowed to do business with them.

The Rosenthal businesses targeted under the act include Panama-based holding company Grupo Continental, which includes Banco Continental S.A. Money laundering acca in Honduras and other businesses in financial services, real estate, construction, tourism and other sectors.

Honduras’ bank regulator announced Wednesday that it was putting measures in place to ensure that Banco Continental continued to operate normally for clients.

“Banco Continental S.A. Money laundering control act has served as an integral part of the Rosenthal money laundering operations and facilitated the laundering of narcotics proceeds for multiple Central American drug trafficking organizations,” according to the Treasury Department’s statement.

Yankel Rosenthal owns several sugar plantations and is president of Marathón football club, a popular, first division team that plays in the city of San Pedro Sula.

Marathón is the only team in Honduras with its own stadium, according to the Honduran online football news site diez. Uk anti money laundering legislation The news site published an interview with Rosenthal the same day he was arrested in which the interviewer questions the wisdom of building the stadium, which is barely used and was never finished.

“For me personally, it was a bad investment,” Rosenthal said, “but … it’s an asset for the team and marks the difference with other institutions.”

Since the indictment was issued in New York, a hearing Friday will determine whether Rosenthal will be sent to that city for trial. What does money laundering accomplish He is currently detained in Miami.