One of boxing's most powerful figures sanctioned by US Treasury for alleged role in large-scale cocaine trafficking

• One of boxing's most powerful figures is named in a new, damning report from the US Treasury.
• Daniel Kinahan "sources large quantities of cocaine from South America," the report said.

One of boxing's most powerful figures, Daniel Kinahan, has been sanctioned by US Treasury for his alleged role in large-scale cocaine trafficking, according to a damning new report.

Kinahan, 44, rose from a regional combat sports promoter in Ireland to one of the biggest names in the sport. The Dubai-based Irishman — who has never been convicted of a crime — manages some of the sport's most prominent athletes, including Terence Crawford, Tyson Fury, and Josh Taylor.

But according to the US Treasury, Kinahan is also the figurehead of the Kinahan Organized Crime Group. The KOCG "smuggles deadly narcotics, including cocaine, to Europe, and is a threat to the entire licit economy through its role in international money laundering," said Undersecretary for Terrorism and Financial Intelligence, Brian E. Nelson.

The KOCG allegedly has interests in hard drugs and weapons, and — according to a special criminal court — specializes in execution-style murders, as previously detailed by Insider.

In a statement, Nelson said: "Criminal groups like the KOCG prey on the most vulnerable in society and bring drug-related crime and violence, including murder, to the countries in which they operate."

According to the Treasury, Kinahan instructed KOCG members to send money to numerous individuals serving prison sentences, including a person "imprisoned for murder on behalf of the KOCG." It added that Kinaham secured massive amounts of "cocaine from South America," organized its supply into Ireland, and attempted to import it into the UK as well.

The US sanctions Kinahan and the KOCG

The US has imposed sanctions on prominent members of the KOCG hierarchy as it targets transnational shipments of drugs.

The sanctions mean property or interests of designated individuals or entities must be blocked and reported to the Office of Foreign Assets Control.

Kinahan, and the UAE-based sports management company Hoopoe Sports, are listed as under the sanctions. Hoopoe Sports is one of three businesses named by the US Treasury as "Kinahan associates."

Hoopoe Sports lists five boxers as clients according to its website: Paddy Barnes, Jamie Conlan, Michael Conlan, Hughie Fury, and Billy Joe Saunders.

Hughie Fury is a cousin of Tyson Fury, who is advised by Kinahan. Saunders has spoken glowingly of Kinahan many times.

"I have known Daniel Kinahan a long time," Saunders tweeted in 2021, according to The Mirror. "I have always had a very positive relationship with him. I am aware of the allegations made against him but I simply do not accept them."

The sanctions also mean US banks, financial institutions, and other companies are prohibited from doing business with KOCG members, Kinahan included.

Kinahan's legal representatives in the US and the UK did not immediately respond to Insider's request for comment.