Info:
Millions of dollars of al-Jamal’s funds have been transferred to Yemen-based Davos Exchange and Remittances Company (Khaled Al Athari and Partner) General Partnership (Davos Exchange), an exchange house established by al-Jamal and a member of his family, Khaled Yahya Rageh Alodhari (Alodhari). Al-Jamal and Alodhari established Davos Exchange in 2021 as a means to bypass U.S. sanctions on al-Jamal’s exchange house partners in Yemen and Türkiye.
Iran-based Houthi financial facilitator Sa’id al-Jamal (al-Jamal) has for years relied on an array of exchange houses, both in Yemen and abroad, to remit the proceeds of Iranian commodity sales to the Houthi movement and IRGC-QF
Treasury-sanctioned financial facilitator Talib ‘Ali Husayn al-Ahmad al-Rawi (al-Rawi) has sent millions of dollars to Davos Exchange to enable the al-Jamal network’s trade-based money laundering operations with the IRGC-QF. Al-Rawi was previously designated pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, al-Jamal. Al-Rawi has previously worked with al-Jamal to transfer millions of dollars from U.S.-designated Syrian company Qatirji Group for purchases of Iranian petroleum products to U.S.-designated, Yemen-based, Houthi-associated exchange house Swaid and Sons for Exchange Co.
Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Davos Exchange responsible for providing tens of millions of dollars’ worth of foreign currency generated from the sale and shipment of Iranian commodities, backed by the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF), to the Houthis in Yemen. Through a complex network of exchange houses and companies in multiple jurisdictions, these persons, under the auspices of U.S.-sanctioned Houthi and IRGC-QF financial facilitator Sa’id al-Jamal, serve as an important conduit through which Iranian money reaches the country’s militant partners in Yemen.
“The Houthis continue to receive funding and support from Iran, and the result is unsurprising: unprovoked attacks on civilian infrastructure and commercial shipping, disrupting maritime security and threatening international commercial trade,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson. “Treasury will continue to disrupt the financial facilitation and procurement networks that enable these destabilizing activities.”
Since October, the Houthis have conducted multiple unprovoked missile and drone attacks threatening civilian infrastructure in Israel and commercial shipping operating in the Red Sea and the Gulf of Aden. U.S. warships operating in international waters have had to respond in self-defense to missile attacks from the Houthis. Such actions further regional instability and risk broadening the conflict between Israel and Hamas.
Also Known As:
Davos Exchange and Remittances Company (Khaled Al Athari and Partner) General Partnership
Arabic: شركة دافوس للصرافه والتحويلات خالد العذري وشريكه التضامنيه
DAVOS COMPANY FOR EXCHANGE AND TRANSFERS
DOB :
06 Sep 2000
Country:
Yemen
Address:
Sanaa, Yemen
Website:
www.davos.exchange
www.dafos1990.business.site