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Bern, Switzerland: Swiss authorities have dropped an investigation into a Saudi businessman suspected of financing Al Qaida-linked terrorism networks, a lawyer said on Friday.
The Federal Prosecutor's Office halted the six-year probe into Yassin Al Qadi, who was alleged to have used Swiss bank accounts to transfer funds of over $1 million (about Dh3.65 million) to individuals tied to Al Qaida, said his lawyer Marc Bonnant.
"All accusations were dropped," Bonnant said.
Al Qadi was designated a global terrorist by the United States in October 2001 and his name also is on the United Nations terror blacklist.
In October 2001, Switzerland's Federal Prosecutor opened a judicial investigation into Al Qadi's Swiss banking transactions.
The Saudi businessman was suspected of funding Al Qaida-linked terrorist networks through the Saudi-based Muwafaq charitable foundation, which he headed then. US investigators allege the foundation is an Al Qaida front used to funnel millions of dollars to the global terror organisation.
Swiss authorities said in 2005 that they had frozen over $10 million (about Dh36.5 million) in Geneva bank accounts linked to Al Qadi.
Banking transaction
Their investigation had focused on a 1998 banking transaction of $1.25 million. Al Qadi has denied any links with terrorists, saying the money was used for financing student dormitories in Yemen.
The Federal Prosecutor's Office could not be reached for comment yesterday.
Bonnant said Al Qadi's Swiss bank accounts remain frozen for the time being.
Al Qadi planned to take legal steps to free the assets, Bonnant added. He declined to say how much money was in Al Qadi's bank accounts.
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