The facade of branch of Lloyds TSB, which admitted to laundering $300 million to Iran. Sources say some of the money went to fund terrorist groups like Hamas and Hezbollah. Dunham/APFrom Newsday:
Some of the world's top banks helped Iran get around international sanctions even as the rogue nation was steering its blood money into the hands of terror groups, prosecutors charged Friday.
Ten international banks including British-based Lloyds laundered "billions of dollars" for Iran through New York banks, Manhattan District Attorney Robert Morgenthau announced Friday. 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 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 and agreed to pay a $350 million 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.
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More News On Western Banks Laundering Money
For Iran And Other Countries
For Iran And Other Countries
Ten of world's top banks laundered money for Iran -- Economics Times Of India
Iran Moved Billions via U.S. Banks -- New York Times
Lloyds TSB agrees to pay fine of $350m for sanctions help -- The Telegraph
My Comment: The bank officials who permitted this should be prosecuted under the full extant of the law. If a direct link between funds are found that links it to teror groups that have killed people, murder charges should also be leveled.
But (unfortunately) it is not going to happen.