The U.S. Treasury Department on Wednesday blacklisted eight individuals and 20 entities connected to the leader of a Panama-based drug trafficking and money laundering organization.

The designated individuals act on behalf of or provide support for Jorge Fadlallah Cheaitelly, who was arrested in Costa Rica in 2011 for his significant role in international money laundering activities and extradited to the United States in 2012, the Treasury Department said in a statement.

Wednesday's action also targets 20 entities controlled by Cheaitelly or his associates in Panama, Mexico, and Colombia, said the statement.

As a result of the move, all assets of the designated persons and entities in the United States are blocked, and Americans are generally prohibited from engaging in transactions with them, it added.

"Today's action highlights the critical role that some Panamanian attorneys and resident agents play in helping known drug trafficking organizations establish shell companies that facilitate the flow and laundering of illicit proceeds," said Adam Szubin, director of Treasury Department's Office of Foreign Assets Control.

The Treasury Department will continue to target those using shell companies for money laundering purposes, Szubin added. Endite

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