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Servicemembers sue 5 banks in US court over allegedly funding terror attacks in Iraq through banks' ties to Iran

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Article
10 November 2014

Suit Accuses Banks of Role in Financing Terror Attacks

Author: Ben Protess & Stephanie Clifford, New York Times (USA)

...More than 200 people, primarily American service members or family members of soldiers killed in Iraq, filed [a] lawsuit on Monday in federal court in Brooklyn. Citing more than 50 attacks on American citizens stationed or working in Iraq during the war, the lawsuit accuses the banks of helping to finance the violent activities through their ties to Iran...The banks...did not deal directly with the militants. But they have acknowledged transferring billions of dollars on behalf of Iran, which has long been suspected of funding and training the terrorist groups that carried out attacks against Americans in Iraq...The case, which aims to show the human cost of something as impersonal as a wire transfer, represents the latest phase of a strategy among plaintiffs’ lawyers to pin blame on banks for acts of terrorism...[Refers to Arab Bank, Bank of China, Barclays, Crédit Lyonnais (part of Crédit Agricole), Credit Suisse, HSBC, Natwest (part of Royal Bank of Scotland), Royal Bank of Scotland, Standard Chartered]

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Article
10 November 2014

[Full text of the complaint]

Author: Osen LLC & Turner & Associates [counsel for the plaintiffs]

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