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Date: Sept. 3, 2026
Contact: newsroom@ci.irs.gov
CONCORD – Ramzi Al-Shawafi, a Chichester resident, was indicted for Operating an Unlicensed Money Transmitting Business that moved over $25 million, U.S. Attorney Erin Creegan announces. Al-Shawafi will appear in federal court on Sept. 16, 2026.
According to the indictment, for several years Al-Shawafi operated a “hawala” and worked with individuals in Yemen to coordinate the transfer of money between the United States and Yemen. A hawala is a type of informal money transfer system that uses a network of agents to transfer money across international borders without using the banking system, typically to circumvent banking laws and regulations.
Al-Shawafi operated dozens of bank accounts across many financial institutions over the last few years. The bank accounts were in the names of businesses he directly or indirectly controlled, including but not limited to Razl Trading, RA Broker, and several convenience stores. Al-Shawafi used these accounts to move over $25 million to Yemen.
The charge of Operating an Unlicensed Money Transmitting Business provides a sentence of up to 5 years in prison, up to 3 years of supervised release, and a fine of up to $250,000. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.
IRS Criminal Investigation and the FBI are leading the investigation. The U.S. Postal Inspection Service and Department of Commerce’s Office of Export Enforcement provided valuable assistance. Assistant U.S. Attorney Alexander S. Chen is prosecuting the case.
IRS-CI is the law enforcement arm of the IRS, responsible for conducting financial crime investigations, including tax fraud, narcotics trafficking, money laundering, public corruption, healthcare fraud, identity theft and more. It is the only federal law enforcement agency with investigative jurisdiction over violations of the Internal Revenue Code. IRS-CI has 16 field offices located across the U.S. and maintains an international presence through attaché posts abroad.