Houthi Leaders Trade in Counterfeit Currency

Security forces in Hadhramout thwarted an operation yesterday to smuggle 1.5 billion riyals of counterfeit local currency, tied to leaders of the Iranian-backed Houthi militia.

• They organize a forum to counter Houthi ideology… The Muslim Brotherhood continues to mislead Yemenis

• Meet (Abu Zar’a al-Mahrami)… the Yemeni Leader Who Defeated the Houthis, the Muslim Brotherhood, and Al-Qaeda

According to a security source, the counterfeit money, which was intended to be smuggled into Houthi-controlled areas, was discovered in a small transport vehicle during an inspection at a security checkpoint in Al-Qatn district, Hadhramout Valley.

The source stated that the money was confiscated, and the vehicle’s driver was arrested for questioning. The driver revealed that he was heading to Houthi-controlled areas and that the counterfeit funds belonged to Houthi leaders who intended to use them to buy foreign currencies from liberated areas.

• New U.S. Sanctions Targeting Yemeni Houthis and Lebanese Hezbollah

• They Were in the Brotherhood’s Stronghold: Arrest of a Houthi Cell on Its Way to Sanaa

Initial investigations revealed that the money was printed in Iran and transported by sea to Al-Mahra province through Houthi elements, before being handed over to the driver to be delivered to Houthi areas.

It is worth noting that counterfeit foreign currencies were recently discovered in Sana’a, with several Houthi leaders involved in their circulation for profit, causing disruption to the banking system in the militia-controlled areas.

• The Brotherhood Strengthens Its Relationship with the Houthis… What’s New?

• The Houthis and Somali al- Shabaab: “The Devil’s Alliance” Reaches the Horn of Africa

The Houthi militia, backed by Iran, is attempting to compensate for the shortage of foreign currency in their controlled areas by purchasing foreign currencies with counterfeit local currency from liberated areas, aiming to achieve two goals: securing foreign currency and causing further devaluation of the local currency by using large amounts of counterfeit money to buy foreign currencies.