Jury: Arab Bank liable in terror attacks
Source: AP-Excite
By TOM HAYS
NEW YORK (AP) A U.S. jury found on Monday that a large Jordan-based bank should be held responsible for a wave of Hamas-sanctioned suicide bombings in the early 2000s that left several Americans dead or wounded.
Jurors reached the unanimous verdict in a terrorism financing lawsuit against Arab Bank after deliberating two days in at a civil trial in federal court in Brooklyn.
Plaintiff's lawyer Gary Osen said it's the first time a bank has been found liable for knowingly supporting a terrorist group.
"The question now is how the rest of the financial world, regulators and governments deal with Arab Bank," Osen said.
FULL story at link.
Read more: http://apnews.excite.com/article/20140922/ap-us--terrorism-lawsuit-1dd304b3bd.html
msongs
(67,417 posts)cstanleytech
(26,294 posts)Real question though is how are they going to collect when the banks are overseas?
freshwest
(53,661 posts)kelliekat44
(7,759 posts)delrem
(9,688 posts)freshwest
(53,661 posts)http://www.democraticunderground.com/10021592819
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http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x621660
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http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1276055
Elizabeth Warren Confronts the Atrocity of Drug Money Laundering by Big Banks
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More to the point, this is what the OP is about:
Too Big to Jail: Big Banks Can Finance Terrorists and Walk Away Scot-Free
http://www.democraticunderground.com/10021970802
HSBC Executive Resigns at Senate Money Laundering Hearing
http://www.democraticunderground.com/1002964269
Icing on the cake:
Drug money saved banks in global crisis, claims UN advisor
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x7218767
azurnoir
(45,850 posts)"The bank relies on the government to tell them who the terrorists are and you wouldn't want it any other way," he said.
Plaintiff attorney Tab Turner argued that the identities of Hamas leaders were so well-known in the region, it was impossible to believe that Arab Bank executives' testimony that they didn't recognize them. Before trial, the bank had refused to turn over the account records to the plaintiffs, citing privacy regulations - a decision that resulted in a court sanction instructing that the jury be allowed to infer that the withheld records could contain evidence damaging to the bank.
"What is it that the bank was so worried about they didn't want you to see it? They didn't want you to see who was giving who money and for what," Turner said.