Official Targeting Terror Funds Quits (Richard Newcomb)

[Khephra]

Official Targeting Terror Funds Quits
By THE ASSOCIATED PRESS

Published: September 13, 2004


Filed at 11:29 a.m. ET

WASHINGTON (AP) -- The longtime chief of a federal agency that plays a key role in going after terrorists financiers and enforces economic embargoes against Cuba and other countries is leaving the post, the Treasury Department announced Monday.

Richard Newcomb, who has served as director of the department's Office of Foreign Assets Control for more than 17 years, plans to work for a law firm, said department spokeswoman Molly Millerwise. Newcomb's last day will be Oct. 1, she said.

Treasury Secretary John Snow said in a statement that under Newcomb's leadership, ``OFAC has been pivotal in administering and enforcing economic sanctions against rogue nations and targeted individuals'' involved in financing or supporting terrorism.

Newcomb's departure comes as the department has recently revamped its various enforcement units. The department has set up a new office to coordinate efforts to stop the flow of money to terrorists.

http://www.nytimes.com/aponline/national/AP-Treasury-Official.html