Hezbollah Victims File $650 Million Suit Against Banks Over Terrorist Fund Transfers

New York, NY (AHN) - A total of 85 victims and survivors of Hezbollah's rocket attacks on Israel in 2006 are suing two banks from the U.S. and Lebanon for $650 million for failing to prevent money transfers to the terrorist group.

The unprecedented lawsuit against American Express Bank Ltd. (AMEX Bank) and the Lebanese-Canadian Bank SAL (LCB) was filed by American, Canadian, and Israeli plaintiffs on Friday before the New York Supreme Court in Manhattan.

In their suit, the plaintiffs accused the AMEX Bank and LCB of transferring millions of dollars for Hezbollah between 2004 and 2006 charging that the money was used to finance the group's rocket attacks on several northern Israeli cities during the Second Lebanon War from July 12 to Aug. 14, 2006.

The suit also cited the New York state Banking Department's 2007 findings that AMEX Bank failed to establish state and federally required safeguards to prevent money transfers to terrorists.

"Hezbollah is a financial giant which is deeply entrenched in the Lebanese banking system. Any U.S. bank that serves as correspondent for a Lebanese bank may well be aiding and abetting Hezbollah terrorism and runs the risk of serious civil liability," the plaintiff's attorney, Nitsana Darshan-Leitner said, according to Israelnationalnews.com.