US seizes $150m 'linked to Hezbollah money-laundering'

BBC News ^ | 8/20/12 | BBC

[NormsRevenge]

The US authorities say they have seized $150m (£95m) from a bank allegedly linked to a money-laundering scheme of the Lebanese militant group Hezbollah.

Last year, US officials accused the Lebanese Canadian Bank (LCB) of helping the group launder profits from drug trafficking and other crimes.

The funds were allegedly used to ship cars from the US to West Africa, with the proceeds smuggled back to Lebanon.

The US classifies Hezbollah as a terrorist organisation.

"As we alleged last year, the Lebanese Canadian Bank played a key role in facilitating money laundering for Hezbollah-controlled organisations across the globe," the head of the Drug Enforcement Administration (DEA), Michele Leonhart, was quoted saying on Monday by the AFP news agency.

In December 2011, US prosecutors filed a lawsuit alleging that the LCB and two other firms used $300m (£193m) in drug-trafficking and criminal proceeds from Lebanon to buy used cars in the US and sell them in West Africa.

Money from the sale of the cars, along with the proceeds of Colombian and Mexican cartels, was then funnelled to Lebanon through Hezbollah-controlled money-laundering channels, according to the US Attorney's Office.

[LtKerst]

Take ALL the Money and give it to Netanyahu

[NormsRevenge]

What a country! We welcome our enemies (well, the State Department does..) to come here and raise families and prosper and this is what we get! How dumb can we be? (ask me that November 7th.) ;-}

[C210N]

This kind of money laundering must NOT be tolerated!

Now that it’s been seized, it can be put to better uses.

That is, by laundering this money instead now into badly starving DNC coffers.

[SunkenCiv]

Thanks NormsRevenge.

[MasterGunner01]

A drop in the bucket compared to all the money we’ve given the Egyptians and Palestinians.

[bcsco]

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