Asat Trust
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The Asat Trust is a business in Liechtenstein which represents the interests of other businesses in that state.
People
[edit]![[icon]](/wiki/File:Wiki_letter_w_cropped.svg){kind=small} | This section needs expansion. You can help by adding to it. (November 2012) |
- Erwin Wachter - company head as of 2003[1]
- Martin Wachter - director as of 2003[2]
- Prince Emanuel of Liechtenstein - board member (1970–1987)
Notable Relationships
[edit]Al Taqwa
[edit]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
[edit]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
[edit]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
[edit]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
[edit]
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
[edit]- ^ a b 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.
- ^ a b c Perelman, Marc (17 October 2003). "Terror Fund Trail Leads To Alpine Kingdom". Jewish Daily Forward. Retrieved 24 November 2012.
- ^ "Estate of John Patrick O'Neill v. Republic of Iraq, et al". 20 August 2003. Retrieved 24 November 2012.
- ^ 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.
- ^ "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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