The Asat Trust is a business in Liechtenstein which represents the interests of other businesses in that state.

People

Notable Relationships

Al Taqwa

The Asat Trust has represented Al Taqwa Bank, a business of Youssef Nada and Ali Ghaleb Himmat, which has been accused of financing al-Qaeda.[2]

A lawsuit filed by the family of John P. O'Neill describes Asat as a "money laundering organization" founded by Youssef Nada.[3]

LGT Bank

Asat has a close relationship with the bank of the Liechtenstein royal family and has printed the name of that bank on its own letterhead.[2]

It is common practice that a legal representative prints the name of a local bank on its own letterhead, indicating its own business account;

Galp Energia

The Asat Trust represented Portuguese energy company Galp Energia in its business dealings with Iraq in the Oil-for-Food Programme. When the US placed sanctions on Asat, Galp continued this business through Sercor Treuhand Anstalt, a company closely related to Asat.[1]

Sercor Treuhand Anstalt does not represent Galp Energia;

Wachter businesses

Sercor Treuhand Anstalt, also known as SerMont Asset Management SA, is the business of Asat Trust directors Erwin Wachter and Martin Wachter.

Martin Wachter also owns Turicon Asset Management.[4]

Sercor is not the business of "Asat" directors; Sercor Treuhand Anstalt and SerMont Asset Management are different companies; Erwin Wachter died November 2013;

Alleged Hamas relationship

FBI Special Agent Lara Burn's testimony

Asat represented K & A Overseas Trading, a business of Khairy H. Al-Agha and Saleh Kamel Jibreel, which the US government alleged to finance Hamas in the Holy Land Foundation trial.[5]

Asat never represented the above companies; Asat was not involved in any financing as described above. The UN Security Council Al-Qaida and Taliban Sanctions Committee approved the deletion of the Asat Trust from its Consolidated List.

References

  1. 1 2 Perelman, Marc (20 June 2003). "Oil for Food Sales Seen As Iraq Tie To Al Qaeda". Jewish Daily Forward. Archived from the original on March 8, 2005. Retrieved 24 November 2012.
  2. 1 2 3 Perelman, Marc (17 October 2003). "Terror Fund Trail Leads To Alpine Kingdom". Jewish Daily Forward. Retrieved 24 November 2012.
  3. ↑ "Estate of John Patrick O'Neill v. Republic of Iraq, et al". 20 August 2003. Retrieved 24 November 2012.
  4. ↑ Caduff, Thomas (18 July 2012). "Mit Martin Wachter von Turicon Asset Management, Zurich". Archived from the original on 1 February 2013. Retrieved 24 November 2012.
  5. ↑ "Holy Land Documents Point to Hamas/Al Taqwa Relationship". Global Muslim Brotherhood Report. 12 August 2007. Archived from the original on 15 December 2010. Retrieved 24 November 2012.


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