Yemen's (P.T.O.C) Issues Its New Report "Houthis' Secret Financial Entities"

The Platform to Track Organized Crime and Money Laundering in Yemen (P.T.O.C) has released its second report titled "Houthis' Secret Financial Entities", following its first report issued at the beginning of June 2024 titled "The Secret Thieves".

The platform continues its efforts to track the secret financial activities of the terrorist Houthi group inside and outside of Yemen.

This report provides exclusive details and information that uncover the financial crimes committed by the Houthis, as well as the systematic corruption carried out by their leaders to fund terrorism and money laundering, and to circumvent international sanctions, with the aim of prolonging the war and controlling the national economy.

The report includes data, documents, and records that prove the involvement of hundreds of exchange companies, commercial entities, and official entities in secret activities aimed at enhancing the financial resources of the Houthis, enabling them to continue local, regional, and international wars, and enriching certain terrorist leaders at the expense of the suffering of the Yemeni people.

The platform has exposed official and commercial documents of businesses and individuals linked to the secret financial wing of the Houthis, exposing the hidden financial system that Iran relies on to finance its proxies in Yemen and the region.

The Platform's report confirms that Al Rawdha Exchange, owned by Mohammed Al-Hawri and Yasser Ali Al-Hawri, was established by the Houthis in 2019 with the aim of controlling the currency exchange and financial transfers market, as well as facilitating the transfer and laundering of money for the Houthi militia.

The Platform has obtained documented information indicating that the Houthis are working to empower Al Rawdha Exchange, under the cover of the Central Bank, to create a unified financial network, canceling out other independent exchange networks and disabling them, forcing other networks and exchange companis to participate in order to evade international sanctions.

This requires a strong international stance against this dangerous move that harms the national economy. The report said.

The Houthi militia enabled Al Rawda Exchange to impose its financial control on the banking market, performing the tasks of the central bank under its control, with a financial movement volume exceeding YR2.5 trillion.

Al Rawdha's activities are not limited to financial transactions and transfers only, but it is the largest financial arm of the Houthis, as the Platform has obtained new details and information revealing this large and complex financial network that was established suddenly.

After the US Treasury imposed sanctions on the company, Houthi leaders worked to find a way to avoid disrupting the operations of Al-Rawdha Company, which is managed by Mohammed Al-Hawri and Yasser Ali Mohammed Al-Hawri.

In this context, the platform obtained a document revealing the modification of the name of Al-Rawdha Exchange and Financial Transfers Company (Mohammed Al-Hawri and Yasser Ali Mohammed Al-Hawri) to Mohammed Al-Hawri and Ali Awman Company.

The investigation led by the platform uncovered more information and details about the companies facilitating financial transfers for the Houthi group and commercial companies inside and outside Yemen.

This report reveals some documents of financial transfers, as well as having records and contracts of oil deals belonging to Qusay Al-Wazeer with individuals linked to the Iranian Revolutionary Guard and Iraqi figures.

The financial transfers of "Fuel Oil" company, owned by Al-Wazeer, show a financial network connection of the Houthi group with financial commercial operations, including a group of limited companies that have been forced by the Houthis to work for them or have their assets seized. Some have become aligned with the Houthis in all financial and commercial aspects, even laundering money through these financial companies, enabling the Houthis to obtain huge financial resources that have helped prolong the war and conflict in Yemen.

The report pointed to Zaid Ali Ahmed Abdul Rahman Al-Sharafi as one of the financial and secretive Houthi leaders linked to the Iranian Revolutionary Guard Corps and directly connected to Quds Force commander Ismail Qaani.

Zaid Ali Ahmed Al-Sharafi operates within complex financial networks and owns numerous companies and factories along with his brother, nephew, and other family members.

The platform confirmed in its report that Nabeel Ahmed Nasser Al-Jawzi, who is the son-in-law of leader Khalid Mohammed Khalil, head of the economic and financial affairs department at the Houthi security and intelligence apparatus, was given the right to import non-essential food items to generate significant financial revenue.

It also noted that the Houthis appointed Ali Salem Al-Saifi in 2015 as the deputy minister of interior for financial and administrative affairs from outside the Ministry of Interior's cadre, after imposing him as the financial official of the ministry to oversee the management of the ministry's funds, budget, and investments estimated in billions of riyals.

As for Hussein Saleh Ayza Al-Mutaei, he is one of the prominent traders in the Houthi group and a influential figure in the oil derivatives trade. Al-Mutaei owns a complex financial network used to serve the Houthi militia through a variety of import and export companies, especially in the oil derivatives, spare parts, and agricultural pesticides sectors.