Iran TerrorismUS families sue UBS over alleged terror links

US families sue UBS over alleged terror links


ImageAFP: US victims of attacks in Israel and their families are suing Swiss bank UBS for 500 million dollars, alleging it financed terrorism by doing business with Iran, their lawyer told AFP Tuesday.

ImageZURICH, Switzerland (AFP) — US victims of attacks in Israel and their families are suing Swiss bank UBS for 500 million dollars, alleging it financed terrorism by doing business with Iran, their lawyer told AFP Tuesday.

Some 50 plaintiffs, relatives of people killed or wounded in attacks in Israel and some of the victims themselves, filed the lawsuit in the Southern District of the New York court system, according to a document obtained by AFP.

The case, which was filed on Friday, is a civil action for "international terrorism, wrongful death, personal injury and related torts."

The plaintiffs quoted a 1996 US State Department report that accused Iran of sponsoring "international terrorism."

Their court summons noted that Iran and the groups it supported were subject to strict US government sanctions that made it difficult for them to move large sums of money around.

"Defendant UBS solved this problem for Iran by illegally providing Iran with hundreds of millions of dollars in cash between 1996 and 2004," said the document.

"UBS knew full well that the cash dollars it was providing to a state sponsor of terrorism such as Iran would be used to cause and facilitate terrorist attacks by Iranian-sponsored terrorist organizations such as Hamas, Hizbollah and PIJ, " the document added.

A US State Department government report released at the end of April said Iran remained the world's "most active" and "most significant" state sponsor of terrorism.

The report highlighted Iran's support for the extremist Islamist movement Hamas, the Lebanese Hezbollah militia and the Palestinian group Islamic Jihad.

"The organisations use the cash from Iran to commit attacks," lawyer for the plaintiffs, Nitsana Darshan-Leitner, told AFP.

"UBS funded Iran for many years," she added, saying they were suing for 500 million dollars (323 million euros).

Asked if the case would create a precedent, she replied: "Absolutely, (it) opens the door against other banks that funded Iran."

A UBS spokesman told AFP that the accusations were "without foundation" and that the bank would defend itself in the courts.

The bank, which cut its links with Iran in 2006, was fined 100 million dollars in 2004 for having made currency transfers to Iran, Cuba, Libya and Yugoslavia.

UBS is also one of around 50 multinationals accused of having helped the South African government during the apartheid era, between 1948 and 1994.

Israeli lawyer Darshan-Leitner is the founder of the Shurat HaDin Israel Law Center. Its stated mission is to pursue what it calls "the perpetrators and financial supporters of Islamic terror" through the courts.

On Monday, US President George W. Bush called Iran the "single biggest threat" to peace in the Middle East, speaking ahead of a visit to the region.

Latest news

Khamenei’s Wrong Decisions and Its Poisoning Result

In recent days, many demonstrations have taken place across Iran, protesting the Iranian regime’s decisions to increase the price...

Iran: Officials Promote Starving Citizens Under a ‘Great Economic Plan’

Over the past four decades, the Iranian regime has been infamous for making false statements. As a result, citizens...

After Coronavirus, Iran’s Regime Kills People Through Starvation

Multiple protests have recently erupted in various cities across Iran, following the 100 to 400 percent increase in the...

Requirements for a Simple Life in Iran; the Unattainable Dream

It is no exaggeration to say that Iran's economy is in a major freefall. All economic indicators are suggesting...

Sale of Iran’s Historical Items; Is There Anything Left To Sell?

Some of the members of the Iranian regime’s parliament have submitted a plan on the 'optimal use of antiquities...

Iran: Bread Protests Are on Way, Stronger Than Gas Protests

Observers in Iran believe that nationwide protests and uprisings are underway following the Iranian regime’s decision to increase the...

Must read

Bahrain arrests 9 Shiites for ‘planning prison break’

AFP: Bahrain announced on Tuesday the arrest of nine...

You might also likeRELATED
Recommended to you