Rosenthal Organization Profiled by the US

Diagram showing the people and companies identified by actions related to money laundering, according to the U.S. Department of the Treasury´s Office of Foreign Assets Control.

Tuesday, October 13, 2015

Rosenthal Money Laundering Organization Chart.

The US Treasury Department has advised that it will not sanction individuals or institutions participating in the liquidation provided that those transactions do not benefit any individual or entity other than those previously identified by the OFAC.



More on this topic

Future of Trusts in Banco Continental

October 2015

The Commission for the Promotion of Public Private Partnerships in Honduras has four trusts with Banco Continental to implement various projects in infrastructure and energy.

Officials at the Commission for the Promotion of Public Private Partnerships (COALIANZA), reported that this institution has four trusts with Banco Continental, usded to implement various infrastructure and energy projects, but after the decision issued by the National Banking and Insurance Commission ( CNBS) to force liquidation of the financial institution, they are waiting for to CNBS determine the procedure to continue execution of the projects.

Regarding the Liquidation of Banco Continental

October 2015

The US Treasury Department has advised that it will not sanction individuals or institutions participating in the liquidation provided that those transactions do not benefit any individual or entity other than those previously identified by the OFAC.

The Office of Foreign Assets Control (OFAC) of the Treasury Department of the United States has issued a statement regarding the decision of the Honduran authorities to liquidate Continental Bank, after identifying the institution and several of its executives as being involved in drug money laundering:

Honduras: Drug Trafficking and the Economy

October 2015

Money laundering has positive economic effect on economies, but also impoverishes the quality of institutions leading to dramatic effects on quality of life in society.

The excellent analysis by Norma Lezcano in his article on Estrategiaynegocios.net, on the US Treasury Department´s inclusion of members of the powerful Rosenthal family in the list of the Office of Foreign Assets Control (OFAC) can be extrapolated to all Central American countries, and is a warning to the governments of the region, where drug trafficking has ingratiated itself and is creeping through state institutions, weakening them by making them serve criminal aims, and preventing them from carrying out their duties properly.

Honduras: Forced Liquidation of Banco Continental

October 2015

It has been announced that deposits up to $9,200 (L200,000) per person will be returned, and then payments to employees, depositors and others, noting that "... there are sufficient resources to address them all."

The cause is the inclusion of the institution in the list of the U.S Office of Foreign Assets Control, and the freezing of its assets abroad.

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