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NOTIFICATION OF BLOCKING
ENF 41008
Jackie Scott
Sure Tec Insurance Company
3225 Shallowford Road
Suite 510
Marietta, GA 30062
MAR 5 2013
Dear Ms. Scott
The Office of Foreign Assets Control ("OFAC") understands that SureTec Insurance Company ("SureTec") issued a surety bond, number 5154427, in the amount of $930,750 in which Filemon Garcia Ayala has an interest.
OFAC designated Filemon Garcia Ayala on February 5, 2013, as a Specially Designated Narcotics Trafficker ("SDNT") pursuant to the Foreign Narcotics Kingpin Designation Act ("Kingpin Act"), 21 U.S.C. §§ 1901-08, 8 U.S.C. § 1182, which is implemented by the Foreign Narcotics Kingpin Sanctions Regulations, 31 C.F.R. part 598, and the Reporting, Procedures and Penalties Regulations, 31 C.F.R. part 501 (collectively, the "Regulations").
This surety bond and all other...
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1) March 14, 2012, "Rapid" and "Prodira" entered into a settlement agreement (the “Settlement Agreement”) which required Rapid to pay $1,200,000 to Prodira in installment payments (p. 15). On Feb. 5, 2013, Prodira and Filemon Garcia Ayala (principal of Prodira) were designated as SDNs. Prior to the designations, "Rapid posted a surety bond with SurTec Insurance Company [] in the amount of $930,750.00, in order to obtain a stay of the Court’s ruling to transfer the funds to Prodira..." (p. 20). An appeal bond is an amount of money placed in holding (by the appellant) while an appeal is being decided.
The notification of blocking, sent to the Surety Co. while the appeal was still pending, was deemed property in which the blocked person that posted the bond had an "interest". Not surprising, but a novel example of "property" being determined to...