Arab Bank Accused of Funding Terrorists

[Los Angeles Times] Josh Meyer - The Justice Department is conducting a criminal investigation into the New York branch of Jordan-based Arab Bank and its financial links to organizations and individuals accused of terrorism, according to three former U.S. counter-terrorism officials. A three-year investigation is producing extensive evidence of how tens of millions of dollars have flowed from wealthy Saudi Arabians to Palestinian groups that used some of the money to pay off suicide bombers and their survivors. Lawyers suing Arab Bank on behalf of Americans and Israelis injured in terror attacks accuse the firm of facilitating acts of terrorism by providing accounts and other financial services to Hamas, Islamic Jihad, and similar groups. Arab Bank also acted as the administrator of a plan in which suicide bombers and others designated as "martyrs" by the PA and other organizations were compensated for their actions. The lawsuits charge that the payments provided an incentive for suicide bombings.

2007-03-05 01:00:00

Full Article


Visit the Daily Alert Archive