Posted on 09/03/2004 4:03:16 PM PDT by searchandrecovery
Cantor Fitzgerald Suess Saudi Arabia, Accusing Nation of Aiding al-Qaida Prior to 9-11 Attack
NEW YORK (AP) -- Cantor Fitzgerald Securities, a bond trading firm that lost two-thirds of its workers in the World Trade Center attack, has sued Saudi Arabia for allegedly supporting al-Qaida prior to the Sept. 11 attack through financing, safe houses, weapons and money laundering.
The company, in a $7 billion lawsuit filed Thursday in U.S. District Court in Manhattan and made public Friday, also named dozens of other defendants, including numerous banks and Islamic charities, in a bid to hold them accountable for its losses in the terrorism attack.
A message for comment left with the Saudi Arabia embassy in Washington was not immediately returned.
The lawsuit noted that it carried many of the same defendants, transactions, events and questions of law as an earlier $300 billion lawsuit brought by insurance companies against terrorist groups, companies and countries supporting terrorism. That lawsuit, which also names Saudi Arabia, is still pending.
The Cantor Fitzgerald lawsuit took particular aim at Saudi Arabia, saying the kingdom "knew and intended that these Saudi-based charity and relief organization defendants would provide financial and material support and substantial assistance to al-Qaida."
According to the lawsuit, Saudi Arabia engaged in a pattern of racketeering as it participated directly or indirectly in al-Qaida's work through its "alter-ego" charities and relief organizations, which it funded and controlled.
The lawsuit alleged that Saudi Arabia materially supported al-Qaida by helping to raise money for it, by knowingly and intentionally employing al-Qaida operatives, by laundering its money and by providing al-Qaida with safe houses, false documents and ways to obtain weapons and military equipment.
"This uninterrupted financial and material support and substantial assistance enabled the al-Qaida defendants to plan, orchestrate and carry out the Sept. 11 attacks," the lawsuit said.
A lawyer for the firm, which lost 658 of its 1,050 employees on Sept. 11, declined to comment. Cantor Fitzgerald now has offices in midtown Manhattan.
Saudi Arabia last month began a radio advertising campaign citing the Sept. 11 Commission's conclusion that the Saudi government did not fund al-Qaida as proof that it has been a loyal ally in the fight against terrorism.
As the ad campaign was launched, Saudi embassy spokesman Nail al-Jubeir said the ads tell Americans "these are the facts that your own independent commission has said about Saudi Arabia. You make up your mind."
The commission had also criticized Saudi Arabia, calling it "a problematic ally in combating Islamic extremism." It said Saudi-funded Islamic schools have been exploited by extremists and, while Saudi cooperation against terrorism improved after the Sept. 11 attacks, "significant problems remained."
Saudi Arabia is the birthplace of Osama bin Laden and 15 of the 19 hijackers.
Saw this on yahoo business. I know, it's from the AP, but there might be some actual facts in there.
The John Edwards solution to the War on Terror.
with black face paint on and legal briefcase
clutched to his chest, Edwards parachutes into the black
night on a HALO mission, ready to attack the Wahhabi with
an onslaught of legal briefs, motions and petitions that
will drive them from from their palaces and spiderholes with
a torment only previously known to OBGYN doctors and
tort reform legislators....
I applaud this action, lawsuit. I hope many other companies follow suit and do the same. Countries need to be held accountable if they are providing safe harbor and/or assistance to these murderers.
Good fo them. I worked as an equities trader for Cantor Fitzgerald on Canon Drive in Beverly Hills for many years.
During the 19th and 20th Centuries, US Marines were sent to Nicaragua to collect import dutites on goods to pay debts owed by Nicaragua to the US.
The Saudis are just begging for the same treatment.
The Chechan terrorists (and their Arab Mujahadeen ) are funded to the tune of $100 million. Where do you suppose that money comes from ?
Did they hire John Loftus?
Yeah but if they win who is getting this money? As I recall, Howard Lutnick the CEO of Cantor pretty much told the families of the victims to go screw themselves the day after 911. I think he cut off their paychecks the next day or something. It was only after the bad publicity and teeth pulling did he finally relent to pay each family something like 100k over 5 years, which for that company is pennies.
But the enemy of my enemy is my friend.
He only survived because he was dropping off a child at school that morning...not 100 feet from my front door.
Not a bad second front.
I didn't know he was shamed into it ... I must have missed that.
No, paychecks were stopped for the pay period ending 9/31/2001 (Which makes sense, that was the last paycheck earned for that particular employee). And Lutnick did not tell the families to screw themselves, the Cantor Relief Fund was already established at that point. Each family gets money from the relief fund, plus every business day after 9/11 (This year, 9/13/2004) all brokers paychecks (and some employee checks) and Cantor Proceeds get donated to the relief fund.
that's what I remembered. in any case, my sympathies, once again, for the victims and their families of 9/11/2001.
thanks
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