US sanctions 14 entities tied to Israeli billionaire under Global Magnitsky Act

The US Treasury sanctioned on Friday fourteen entities under the Global Magnitsky Act which blocks property of those involved in serious human rights abuse or corruption.

The sanctions targeted entities affiliated with Israeli businessman and billionaire Dan Gertler, who has reportedly amassed his fortune through corrupt mining and oil deals in the Democratic Republic of Congo.

According to the Treasury Department, between 2010 and 2012 alone the country reportedly lost over USD 1.36 billion in revenue from the underpricing of mining assets to offshore companies like Gertler’s.

The Treasury previously sanctioned 19 companies and one associated tied to Gertler, bringing the total number of sanctioned entities and individuals in his network to 34.

Source: Kuwait News Agency

US sanctions 14 entities tied to Israeli billionaire under Global Magnitsky Act

The US Treasury sanctioned on Friday fourteen entities under the Global Magnitsky Act which blocks property of those involved in serious human rights abuse or corruption.

The sanctions targeted entities affiliated with Israeli businessman and billionaire Dan Gertler, who has reportedly amassed his fortune through corrupt mining and oil deals in the Democratic Republic of Congo.

According to the Treasury Department, between 2010 and 2012 alone the country reportedly lost over USD 1.36 billion in revenue from the underpricing of mining assets to offshore companies like Gertler’s.

The Treasury previously sanctioned 19 companies and one associated tied to Gertler, bringing the total number of sanctioned entities and individuals in his network to 34.

Source: Kuwait News Agency