William Acosta, CEO of Equalizer Investigations for FinGurú
Introduction
At the border where Argentina, Paraguay, and Brazil meet without anyone asking for papers, the dense air of Ciudad del Este and the stories of Asunción intertwine in silences charged with cross interests. For years, the word "Hezbollah" was just a shadow in the cafés and offices of the region. However, suddenly—with the death of a matriarch, the courage of a witness like David Fernández Lichi, and the cunning of banking operators—that shadow transformed into a judicial and political reality. This report traverses the routes of money and the proper names that turned a financial institution like SAFIO, under the command of Watfa, Fohad, Bader, Leila, Sara, and Marian Rachid Lichi, into an unlikely ally of the terrorist machinery that sowed fear and pain from Beirut to Buenos Aires. Moreover, it offers context and a story of flesh and blood about how internal fractures and international judicial cooperation can shine a light on the truth in the darkness.
Origin and Expansion of SAFIO
In the 1980s, Watfa Rachid Lichi and her husband saw an opportunity: they founded SAFIO in Asunción, and soon mortgage loans and investments flowed. After both passed away, their six children took control—Fohad as director, Bader as vice president and senator, Leila in diplomacy, and the others managing the estate and family legacy. SAFIO became one of those names every banker and politician knew, but few really knew who was behind the curtain [Infobae, 2025].
Consolidation of Political and Economic Power
The rise of Bader Rachid Lichi as a Colorado senator and Leila as chancellor and ambassador was more than just a family anecdote. Their positions allowed them to protect the business, open doors in embassies, and manage commercial and political relationships in true power salons. The institutional umbrella that the Rachid Lichis achieved was not only influence: it was a judicial shield capable of changing the fate of millions in loans and banking operations [Infobae, 2025].
SAFIO and Illegal Financing
For over a decade, between 1989 and 2000, SAFIO transferred more than $12 million to Ali Houssein Abdallah, an essential figure of Hezbollah in the Triple Frontier and connected with Salman Raouf Salman (Samuel El Reda). Documents provided by David Fernández Lichi include checkbooks, receipts, and loan records that match key dates—such as the AMIA bombing on July 18, 1994, where Abdallah received a direct transfer of $55,000. Investigators suspect that the transfers did not exceed $10,000 each to avoid scrutiny, and there were payments related to properties linked to the Paraguayan embassy in Lebanon. All of this was jointly investigated by prosecutors Francisco Cabrera and Sebastián Basso, leading to the international arrest warrant issued by Judge Daniel Rafecas [Infobae, 2025; Justice Department, 2025; Wikipedia, 2004].
Structure and Modus Operandi of Hezbollah in South America
The network behind the money does not end in Paraguay. Assad Barakat, financier, and logistical operator in Ciudad del Este, and Mohammad Youssef Abdallah, a religious leader and brother of Ali, are part of the machinery. Shell companies, exchange houses, and businesses run by the Lebanese community form the landscape of the Triple Frontier where groups like FARC and ELN, along with Mexican cartels, collaborate and expand illicit circuits. Under a routine of daily operations and the complicity of state absence, the illegal and the legal walk side by side [Washington Institute, 2015; UNAV, 2020].
Infiltration Strategies and Political Links
Leila Rachid Lichi, as chancellor and ambassador, facilitated high-level negotiations while the rest of the family kept the business afloat. Lebanese migration and the lack of oversight allowed names like Abdallah and Barakat to forge alliances with local businessmen and officials, achieving diplomatic protection, commercial contracts, and access to bank accounts without raising alarms until years later [Universidad de Navarra, 2020].
Internal Break and Evidence Leaks
The axis of the plot changes in 2021, when the death of Watfa Rachid Lichi triggers a succession dispute. David Fernández Lichi, sidelined from the distribution, decides to deliver key documents that the prosecutors in Argentina and Paraguay convert into evidence to expose the money trail and the network's architecture. The criminal and civil litigations among relatives illustrate how internal conflicts can become tools of truth in international cases [Infobae, 2024].
Latin America in Hezbollah's Financial System
It is no coincidence that the Triple Frontier and South America appear as nodes of global money laundering and financing. This is confirmed by the official designation of Hezbollah as a terrorist organization and the declassified works of agencies such as UIF, FBI, the U.S. Regional Security Office, and the Israeli Defense Ministry itself. Dirty money, combined with drugs and smuggling, solidifies the region as an operational base and a bridge between crime and politics. The succession of names, formulas, and banking maneuvers demonstrate that here, reality surpasses fiction, and state surveillance continues to lag behind the challenge [IDF, 2013; Wikipedia, 2004].
Conclusion
The saga of SAFIO and the Rachid Lichis is more than just the chronicle of a powerful family: it portrays South America as the stage where power, money, and blood ties can determine the course of an entire region. The transfers, disputes, and silences only make sense when they intersect with the courage of those who provide the evidence and the international judicial coordination that ultimately decides to take a stand against impunity. Today, the financial system, politics, and migration can serve as a shield but also as triggers for global risks, and this case demonstrates that with names, dates, and documents in hand.
Legal Documents and Expanded Resources
Judicial report, submitted evidence, and case timeline (checkbooks, transfers, banking documents, and statements):
Official ruling on the AMIA bombing (criminal prosecution, conviction, international documentation, and list of accused):
https://en.wikipedia.org/wiki/AMIA_bombing
Charges and accusation report from the U.S. Department of Justice against Salman Raouf Salman (Samuel El Reda), Hezbollah operator:
Academic analysis on Hezbollah's financial and logistical structure, extradition, and conviction of operators in the Triple Frontier (Assad Barakat, illegal operations, money laundering, and terrorism):
https://www.washingtoninstitute.org/sites/default/files/pdf/Levitt20151216-PRISM.pdf
https://www.iri.edu.ar/wp-content/uploads/2019/07/bartolome_articulo.pdf
Biannual documentation, declassified reports, and fiscal management regarding intelligence information and the AMIA bombing:
Report on deaths and confirmation of relevant fugitives in the AMIA case:
Official summary from the Israeli Defense Ministry regarding the global context and the explanation of the AMIA bombing:
https://www.idf.il/es/minisites/hezbola/hezbollah-en-tu-pais-el-caso-amia/
Legal Proceedings Documents and Public Analysis of Geopolitical and Historical Impact:
References
Infobae. (2025, September 21). Israeli Embassy and AMIA: investigating a family of Paraguayan politicians who would have financed Hezbollah. https://www.infobae.com/judiciales/2025/09/21/embajada-de-israel-y-amia-investigan-a-una-familia-de-politicos-paraguayos-que-habria-financiado-a-hezbollah/
University of Navarra. (2020, February 28). The designation of Hezbollah as a terrorist organization throughout the Western Hemisphere unites strategies. https://www.unav.edu/web/global-affairs/detalle/-/blogs/la-designacion-de-hezbola-como-terrorista-a-lo-largo-del-hemisferio-occidental-auna-estrategias
Justice Department. (2025, February 5). Justice Department Announces Terrorism Charges Against High-Ranking Hezbollah Member. https://www.justice.gov/archives/opa/pr/justice-department-announces-terrorism-charges-against-high-ranking-hezbollah-member-who
Washington Institute. (2015, December 16). Iranian and Hezbollah Operations in South America. https://www.washingtoninstitute.org/sites/default/files/pdf/Levitt20151216-PRISM.pdf
Wikipedia. (2004, January 16). AMIA bombing. https://en.wikipedia.org/wiki/AMIA_bombing
Infobae. (2024, April 22). One of the fugitives in the case for the AMIA bombing died of COVID during the pandemic. https://www.infobae.com/judiciales/2024/04/22/uno-de-los-profugos-en-la-causa-por-la-voladura-de-la-amia-murio-por-covid-durante-la-pandemia/
IDF. (2013, July 17). Hezbollah in your country: the AMIA case. https://www.idf.il/es/minisites/hezbola/hezbollah-en-tu-pais-el-caso-amia/
About the Author
William L. Acosta is a criminology researcher...A retired NYPD officer, specializing in comparative political corruption and transnational organized crime. With experience as an international consultant and analyst for media and law firms, he has documented complex cases in Latin America, the United States, and Europe.
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