Log Out
Visit Par4TheCourse's column >>

PAR4THECOURSE

Home Page
Death Penalty for Child Predators
Articles Posted: 14  Links Seeded: 30496
Member Since: 8/2009  Last Seen: 5/24/2012

Civil Suit Seeks More Than $480 Million from Entities That Facilitated Hizballah-Related Money Laundering Scheme

Seeded on Sat Dec 17, 2011 9:24 AM EST
Read ArticleArticle Source: FBI New York - United States Attorney
, , , , , , , , , ,
Seeded by Par4TheCourse
Advertise | AdChoices

The Justice Department today filed a civil money laundering and forfeiture complaint in the Southern District of New York alleging a massive scheme in which Lebanese financial institutions, including a bank and two exchange houses linked to Hizballah, used the U.S. financial system to launder narcotics and other criminal proceeds through West Africa and back into Lebanon.

The filing of the complaint was announced by Preet Bharara, U.S. Attorney for the Southern District of New York, and Michele M. Leonhart, Administrator of the Drug Enforcement Administration (DEA).

  • Enjoy this article? Help vote it up the 'Vine.

Published to:

Par4TheCourse

The complaint alleges that the assets of LCB, the Hassan Ayash Exchange and Ellissa Holding, along with the assets of approximately 30 U.S. car buyers and a U.S. shipping company and related entities that facilitated the scheme, are forfeitable as the proceeds of violations of the International Emergency Economic Powers Act (IEEPA), together with executive orders and U.S. Department of the Treasury regulations, and as property involved in and the proceeds of money laundering offenses. The complaint also seeks civil money laundering penalties totaling $483,142,568 from these entities, representing the sum of the funds they laundered.

  • 1 vote
Reply#1 - Sat Dec 17, 2011 9:25 AM EST
Leave a Comment:
You're in Easy Mode. If you prefer, you can use XHTML Mode instead.
Newsvine Privacy Statement
As a new user, you may notice a few temporary content restrictions. Click here for more info.