Asat Trust

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]

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;

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;

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;

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.