Connections Unveiled: Osama bin Laden, Hamas, and the Sudanese Financier
Leaked documents reveal a notorious Hamas-affiliated financier, previously convicted of corruption in Sudan, continues to operate a network of European businesses, defying US sanctions
A Hamas-affiliated financier who was previously sentenced to 10 years on corruption charges in Sudan has been found to still have a network of business interests in Europe despite being under US sanctions, according to leaked documents. The business dealings of Abdelbasit Hamza, who is linked to Osama Bin Laden by the US, have spanned two decades and include a Cypriot firm, a Spanish real estate company, an Egyptian gold business, and a Sudan-based company that was sanctioned by the US less than a week after the October 7 attacks.
He was detained in Sudan in 2019 following the ousting of dictator Omar Al-Bashir and was imprisoned for his involvement in handling Hamas funds, along with other charges. However, it was not until the militant group's October 7 attack on Israel that he was sanctioned by the US.
In collaboration with Israeli investigative platform Shomrim and the International Consortium for Investigative Journalism (ICIJ), CNN has revealed information about Hamza's extensive business holdings in Europe, which are part of a worldwide network of assets that Sudanese anti-corruption officials have estimated to be valued at over $2 billion.
Amid accusations from critics that Israel and the US neglected to address the danger posed by Hamas and its worldwide business network, new revelations have surfaced.
After being released from prison following a 2021 military coup in Sudan, Hamza denies any ties to Hamas financing and Osama Bin Laden. In a statement to CNN, he claimed he was a "political prisoner" and was released in June 2021 for being "completely innocent."
Left - Mohammed bin Abdulaziz Al-Khulaifi during an interview with CNN.
Israeli Prime Minister Benjamin Netanyahu observes as US Secretary of State gives a statement to the media inside The Kirya, the Israeli Defense Ministry, after their meeting in Tel Aviv on October 12, 2023. Blinken's visit is a show of solidarity after Hamas's surprise weekend attack in Israel, and he is expected to visit Netanyahu as Washington supports its ally's air campaign against Hamas militants in the Gaza Strip. (Photo by Jacquelyn Martin / POOL / AFP) (Photo by JACQUELYN MARTIN/POOL/AFP via Getty Images)
For years, Qatar has been sending millions to Gaza with the backing of Israel. The controversial deal has raised concerns, especially after Udi Levy, a former intelligence officer in the IDF, revealed that he had briefed Prime Minister Benjamin Netanyahu about the threat posed by Hamas financing networks in 2015 but was ignored. Levy expressed his frustration, calling it a "great oversight" that Israel and the United States did not act against Hamas sooner. This information came to light in an interview with Shomrim, the investigative platform.
The Israeli government is denying that their recent actions have bolstered Hamas. When asked if the funding from Hamas played a critical role in the October 7 attack, Ophir Falk, foreign policy adviser to Netanyahu, told CNN, "As we have stated, all questions, including this one, will be reviewed after the war. The Prime Minister's war cabinet has instructed the IDF to dismantle Hamas and free the hostages. Israel's sole focus is on achieving these objectives. All inquiries will be addressed in due course after achieving complete victory." The US State Department did not provide a response to a CNN request for comment at the time of publication.
How Hamza made his money
The ICIJ has provided documents to CNN from the "Cyprus Confidential" leak - a collection of over 3.6 million documents examined by ICIJ and 68 media partners, including Shomrim - which reveal that Hamza is listed as owning a stake in Matz Holdings, a Cypriot company established in February 2005. Matz Holdings has held a profitable concession to exploit two gold mines in Egypt since its establishment.
Hamza offloaded a significant chunk of his shares in Matz Holdings just before the removal of his ally, Sudan's former dictator Omar Al-Bashir in 2019, but still holds a 10% stake in the company. He also possesses a Spanish real estate company, impacted by US sanctions targeting "assets in Hamas's investment portfolio" approximately a week after sanctions were imposed on Hamza himself.
Smoke fills the air from an explosion in Gaza on October 28, 2023, in Sderot, Israel. Following the October 7 attacks by Hamas, which resulted in 1,400 deaths and 200 hostages, Israel initiated a sustained bombardment of the Gaza Strip and threatened a ground invasion to defeat the militant group ruling the Palestinian territory. The situation is further complicated by the fate of the hostages, including Israelis and foreign nationals held by Hamas in Gaza, as well as international pressure regarding the humanitarian crisis in Gaza. A timeline for a potential ground invasion remains uncertain. (Photo by Dan Kitwood/Getty Images)
One month later, here's what we've learned about the Israel-Hamas conflict.
Hamza has a stake in Matz Holdings through the Zawaya Group for Development and Investment, a Sudanese company that was recently sanctioned by the US Treasury Department for its ties to Hamas.
The Treasury Department alleged that he had "longstanding connections to terrorism financing" and stated that he had historical associations with businesses in Sudan linked to Bin Laden, who resided in Sudan in the 1990s.
When Swiss media company Tamedia, part of the ICIJ "Cyprus Confidential" consortium, contacted Jakob Bliggenstorfer, Hamza's business partner in Matz Holdings, for comment on the US sanctions, Bliggenstorfer refuted the claims, denying any ties between Hamza and Hamas. He described the sanctions against Hamza as a "case of mistaken identity."
In November the United Kingdom also sanctioned Hamza, but he has not yet been sanctioned by the European Union.
Shadow men
Following Hamas' deadly attack on Israel on October 7, which resulted in the deaths of 1,200 people and the seizure of over 240 hostages, concerns have been raised both in Israel and internationally about the failure to effectively address the threat posed by the Iran-backed group.
Netanyahu has been accused of underestimating Hamas, leading to fatal consequences. Reports from CNN and Shomrim have previously revealed that Netanyahu allowed Hamas to receive millions of dollars in cash-filled suitcases from Qatar for humanitarian purposes. The difficulty of monitoring such large sums of cash raised concerns within Netanyahu's own Cabinet and among other officials.
Rockets are fired from Gaza City towards Israel during the October 7 attacks.
Mahmud Hams/AFP/Getty Images
Israel continues to face major challenges with the finance networks of certain groups. The IDF announced on Tuesday that it had conducted an operation to eliminate a key Hamas financier, aiming to disrupt the flow of funds to the group.
Levy, the ex-IDF intelligence officer who led Mossad's economic unit "Zalzal" until 2016, described Hamza as part of a group of "shadow men" overseeing money networks for Hamas.
"In recent years, he [Hamza] has emerged as a key player in Hamas' investment portfolio," responsible for "numerous seemingly legitimate companies" whose profits are "used to fund the movement's operations, including its military activities," Levy explained in an interview with Shomrim.
Too late
Following the ousting of Bashir from power, Hamza was arrested by Sudanese authorities in April 2019. The civilian rulers of Sudan seized his assets, and in February 2021, the country's new anti-corruption task force indicted him on various charges including illicit wealth, money laundering, corruption, and terrorist financing. Subsequently, Hamza was sentenced to 10 years in prison.
After a military coup in Sudan in October 2021, Hamza and several other allies of Bashir were released from prison and had their seized assets returned. This move, according to former Sudanese officials, provided an opportunity for Hamza and Hamas to escape scrutiny.
"We soon realized that Abdelbasit's financial network was extensive and intricate," said Mohamed Al-Faki Suleiman, the former acting head of Sudan's civilian anti-corruption committee. "It included investments in oil, hotels, marketing, contracting services, and the illegal acquisition of millions of acres of land."
Al-Faki revealed that despite Sudans task force flagging hundreds of millions of dollars of Hamzas assets to authorities in the US and Europe in 2019, the funds are still held outside Sudan. He expressed regret that the US and others did not act on Sudans findings, stating that "everything we uncovered turned out to be 100% true." Al-Faki also commented that the US sanctions came too late.
