Zabaneh's local assets frozen

Courtenay Coye Law firm, which has been retained by John Zabaneh, yesterday issued a release on Zabaneh’s behalf refuting the designation issued by the the US Treasury. It states and we quote “Mr. Zabaneh and his companies categorically state that these wild and unsubstantiated accusations and any and all allegation of wrongdoing made therein against him and his companies are false and highly defamatory. Mr. Zabaneh and his companies are not engaged in drug trafficking, are not operatives of and have neither had nor currently have any affiliation or association with Joaquin Guzman Loera, the Sinaloa cartel or any other narco-trafficker whatsoever.” The release further disproves any close affiliation between John Zabaneh and his nephew Dion Zabaneh and states that “Mr. Zabaneh has never met nor heard of Daniel Moreno.” According to the release the Zabaneh group of companies employs over 750 workers and pays over $2.5 million per annum in taxes and duties and generate over US$15 million in foreign exchange earnings per annum through exports. Again the release states that “Mr. Zabaneh and his companies are certain that they will be fully exonerated from these false accusations.” The purported conspiracy of complicity in the narcotics trade, as levied against Zabaneh by the US Treasury is gaining traction. Just before news time tonight, we were reliably informed that the Financial Intelligence Unit (FIU) has moved in on John Zabaneh and frozen all his local assets. We attempted to get a comment from Marilyn Williams, the Director of the FIU but there was no response from her office line. This move could spurn serious economic backlash not only for the Zabaneh business interests, but as well for over 750 employees who depend on these businesses for their bread and butter. We certainly will have more on this story in tomorrow’s newscast.

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