Now here’s a Remembrance Day (Veterans Day) news story you probably won’t see on mainstream media, even though it is about seeking justice for soldiers. -LW
Susanne Posel, Chief Editor Occupy Corporatism | The US Independent
November 11, 2014
An unprecedented 200 plus American service men and women (including family members of soldiers killed in Iraq) filed a lawsuit in Brooklyn, in a federal court, citing that banks financed more than 50 attacks on Americans stationed or working in Iraq during the war.
The banks named in the suit are:
- Standard Chartered
- Royal Bank of Scotland (RBS)
- Credit Suisse
- Bank Saderat Iran, UK-based subsidiary of Iranian bank
The lawsuit states that these banks transferred “billions of dollars on behalf of Iran; even after sanctions were placed on the country because of their suspected financing of terrorist organizations.
Court papers filed reveal: “The defendants provided Iran with the means by which it could transfer more than $150 million to the I.R.G.C.-Q.F., Hezbollah and Special Groups, which were actively engaged in planning and perpetrating the murder and maiming of hundreds of Americans in Iraq.”
In fact, the lawsuit explains how the banks cited just happened “to do business with Iranian financial institutions that have separately financed Hezbollah, the Shiite militant group and political party suspected of aiding attacks in Iraq, as well as Iran’s Islamic Revolutionary Guard Corps-Qods Force and other instruments of Iranian state-sponsored terrorism.”
This litigation focuses on how the banks “finance illegal activity” and played a role in handling “tainted transactions” by using the Anti-Terrorism Act (ATA) to show the bank’s hand in providing “material support” to terrorists.
Gary Osen, one attorney for the plaintiffs, pointed out: “Does it matter whether a particular bank was the physical conduit of the transfers to the terror apparatus, or is it enough that they were in a conspiracy which made that possible, and that they were, as a legal matter, deliberately indifferent to that result?”
In order to move money, according to the lawsuit, banks “ conspired with Iranian banks to mask wire transactions in order to evade US sanctions.”
It is estimated that at least $100 million was funneled to terrorist groups operating in Iraq under the control of Iran:
- a Shi’ite militia in Iraq
- Kataib Hezbollah
- Quds Force, the overseas arm of Iran’s Islamic Revolutionary Guard Corps
This lawsuit alleges that these banks “indirectly facilitated the attacks by entering into agreements with Iranian banks to mask US dollar wire transactions sent through the United States.”
Osen said: “Each defendant understood that their conduct was part of a larger scheme engineered by Iran.”
HSBC has a history of financing terrorist clients from countries such as Mexico, Iran, Saudi Arabia and Syria.”
Back in 2012, in Mexico, HSBC allowed massive amounts of monies to be funneled to drug cartels while simultaneously servicing clients in Saudi Arabian and Bangladesh banks to finance many terrorist groups such as al-Qaeda.
At the time, it was revealed that “HSBC officials working closely with Saudi Arabian banks linked to terrorist organizations.”
In a news article about the lawsuit: “… the four-count criminal information filed in the court charged HSBC with failure to maintain an effective anti-money laundering program, to conduct due diligence on its foreign correspondent affiliates and for violating sanctions and the Trading With the Enemy Act.”
It is clear that “if [the banks] do business with terrorists, [they] can be held liable.”