Green Energy
NEW YORK: Ten international banks, including British-based Lloyds laundered "billions of dollars" for Iran through New York banks, Manhattan, District Attorney Robert Morgenthau announced on Friday.
According to a report in the New York Daily News, the scheme helped Iran turn its dirty money into greenbacks, which it could then use to buy goods prohibited by international sanctions.
Some of the money went to fund terrorist groups like the Hamas and Hezbollah, and to help Iran get materials, including tungsten, for long-range missiles, sources said.
"This is one of the biggest investigations we've ever conducted," said Morgenthau.
Lloyds admitted it laundered 300 million dollars and agreed to pay a 350 mn dollar fine and open its books to investigators.
If records show that the bank knew it was helping Iran break international law or foster terrorism, Lloyds could face criminal prosecution, authorities said.
None of the other nine banks was identified because they are working out similar agreements with Morgenthau's investigators. The CIA will also review the bank records.
Steven Weber, a terrorism expert and professor of political science at the University of California Berkeley, said it is unusual for a bank like Lloyds to admit wrongdoing on such a large scale.
Read the rest of the story.
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Green Energy
Banks Launder Money For Iran
NEW YORK: Ten international banks, including British-based Lloyds laundered "billions of dollars" for Iran through New York banks, Manhattan, District Attorney Robert Morgenthau announced on Friday.According to a report in the New York Daily News, the scheme helped Iran turn its dirty money into greenbacks, which it could then use to buy goods prohibited by international sanctions.
Some of the money went to fund terrorist groups like the Hamas and Hezbollah, and to help Iran get materials, including tungsten, for long-range missiles, sources said.
"This is one of the biggest investigations we've ever conducted," said Morgenthau.
Lloyds admitted it laundered 300 million dollars and agreed to pay a 350 mn dollar fine and open its books to investigators.
If records show that the bank knew it was helping Iran break international law or foster terrorism, Lloyds could face criminal prosecution, authorities said.
None of the other nine banks was identified because they are working out similar agreements with Morgenthau's investigators. The CIA will also review the bank records.
Steven Weber, a terrorism expert and professor of political science at the University of California Berkeley, said it is unusual for a bank like Lloyds to admit wrongdoing on such a large scale.
Read the rest of the story.
- Obama Regime Advising Global Banks On Ways To Give Iran Money
From the Free Beacon: The Obama administration is now advising foreign banks on how to bypass existing U.S. sanctions when dealing with Iran, according to the State Department, which disclosed that officials are offering guidance on how to grant the...
-
Are you ready to get paid in Euros? Yen? British pounds? How about a whole new world currency? Businessweek: Central Banks Prepare to Distribute Foreign Currency at Home By Craig Torres Nov. 30 (Bloomberg) -- The Federal Reserve and five other central...
- Ny Banks Unwittingly Aided In Iranian Nuke Material Transfers, Says Da
NOTHING TO SEE HERE, MOVE ALONG WHILE THE OBAMA TEAM 'ENGAGES' MODERATE IRANIANS The Manhattan district attorney's office has smashed a sinister plot to smuggle nuclear weapons materials to Iran through unwitting New York banks,...
- Iran Withdraws $75 Billion From Europe
Does this mean that things are finally getting serious in the faceoff with Iran over their nuclear project? From Reuters: TEHRAN (Reuters) - Iran has withdrawn around $75 billion from Europe to prevent the assets from being blocked under threatened new...
- Some More Information About Uae
Update from Global Security Newswire, February 16, 2006: U.S. Watches Dubai Banks for Proliferation Ties "WASHINGTON — U.S. Treasury Department representatives are monitoring the possibility that money flowing through banks in Dubai, United Arab Emirates,...