What Does ISIL Have to do with Offshore Banking in Belize?

Following the news of the amazing catch and release of prize fish and fugitive millionaire David Nanes, Belize certainly got a black eye on the international scene. And tonight there is another, after the US issued sanctions on a company registered in Belize and believed to be doing business with the Islamic State of Iraq and the Levant, ISIL. The official release was issued by the US Treasury Department, dated November twenty-fifth and entitled – Treasury Sanctions Networks Providing Support to the Government of Syria, Including for Syrian Facilitating Government Oil Purchases from ISIL.  Four persons and six entities in their control have been classified as Specially Designated Nationals, and one of those is Mudalal Khuri, Syrian born but holding Russian nationality. Khuri is said to have strong ties with the government of Syria, which the US accuses of rampant terrorism and brutality. According to the Treasury release, Khuri owns or operates five of the entities sanctioned by the US this week, including Kremsont Commercial. The release states that, (Quote) “Kremsont was designated today for being owned or controlled by Khuri and acting for or on behalf of the Government of Syria.  Kremsont is a Belizean front company whose director is Russia-based Syrian businessman Khuri.” (Unquote)  News Five went looking for Kremsont, which according to the US is registered at the Blake Building in Belize City, suite three zero two. We found only Commonwealth Corporate Services Limited, which we have been told is acting as a registering agent for Kremsont. No additional comment or information was forthcoming.  As a result of the sanction, all assets of those designated that are inside the US or are held in the control of US individuals are frozen, and US nationals or entities are prohibited from engaging in transactions with them. We contacted the office of the Financial Intelligence Unit, and were told that Director Eric Eusey is out of the country. We also tried to get comment from Financial Secretary Joseph Waight, but he was not available.