US sanctions Lahore money-changer for LeT links

US Treasury says Muhammad Iqbal conducts financial transactions on behalf of Lashkar-e-Taiba and its affiliates.

WASHINGTON: The US labelled a money changer as a "global terrorist" on Wednesday, alleging that he had provided financial services to banned militant group Lashkar-e-Taiba.

The US Treasury alleged that Muhammad Iqbal, who owns and runs the Asma Money Exchangers in Lahore, conducts financial transactions on behalf of Lashkar-e-Taiba and its affiliates.

It said he is a founding member and finance secretary of the charity Falah-i-Insaniat Foundation, which the US named as a front for Lashkar-e-Taiba in 2010.

In this role and as owners of Asma Money Exchangers, Iqbal solicited donations for and sent money to officials of Lashkar-e-Taiba, it said.

"As a result of today's action, all property and interests in the United States or in the possession or control of US persons in which Iqbal and Asma Money Exchangers have an interest are blocked, and US persons are prohibited from engaging in transactions with them," the Treasury said.