The U.S. Department of the Treasury’s Office of Foreign Assets Control has designated three Honduran businessmen and seven businesses as S ass money launderers for the narcatoics trade.
The three individuals are Jaime Rolando Rosenthal Oliva, his son Yani Benjamin Rosenthal Hidalgo and his nephew Yankel Antonio Rosenthal Coello.
The Treasure department says the three provide money laundering and other services that support the international narcotics trafficking activities of multiple Central American drug traffickers and their criminal organizations.
As a result of the action, all assets of these individuals and entities that are under the jurisdiction of the United States or in the control of U.S. persons are frozen, and U.S. persons are generally prohibited from engaging in transactions with them, said the Office of Foreign Assets Control.
The Drug Enforcement Administration and the U.S. Attorneyís Office for the Southern District of New York also took action to target the Rosenthal family. An indictment charging the trio along with a fourth individual, with money laundering was unsealed, and Yankel Antonio Rosenthal Coello was arrested in the United States.
This action targets the three Rosenthal family members and their properties for their money laundering and drug trafficking activities, said Adam J. Szubin, acting under secretary for terrorism and financial intelligence. This step underscores that the U.S. government is fully committed to protecting the U.S. financial system from criminals like the Rosenthals. We are fully committed to working with the Honduran authorities to take the necessary steps to protect the Honduran financial system from abuse by drug traffickers and other illicit actors, in order to further safeguard Honduran financial institutions.
The action targets seven key Rosenthal businesses including their principal Panamanian holding company, Inversiones Continental (Panama), S.A. de C.V., known as Grupo Continental. Grupo Continental is the parent company of a conglomerate of businesses in Honduras involved in banking, financial services, real estate, agriculture, construction, tourism, and media.
Cited along with Grupo Continental is its agricultural arm, Empacadora Continental S.A de C.V. (now known as Alimentos Continental), and two of its key financial components, Inversiones Continental, S.A. (a.k.a. Grupo Financiero Continental) and the Honduran bank, Banco Continental S.A., headquartered in San Pedro Sula, Honduras.
Banco Continental S.A. 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, said the U.S. announcement.