A Lebanese bank can face claims in New York of negligence and breach of duty in a lawsuit brought by U.S., Israeli and Canadian victims of Hezbollah rocket attacks and their families, the state’s highest court ruled. The victims sued American Express Bank Ltd. and Lebanese Canadian Bank in 2008,
Over the past two years, US pressure on Lebanese banks reached unprecedented levels. The main indicator is the increased frequency of visits from US treasury envoys to Lebanon. The latest such visit was paid by Neal Steven Wolin, US deputy secretary of the treasury. Before him came Daniel Glaser, assistant
U.S. authorities on Monday announced the seizure of $150 million allegedly linked to a Hezbollah scheme to launder proceeds from drug trafficking and other crimes. The money came from a U.S. bank account used by the Lebanese Canadian Bank to conduct U.S. currency transactions, U.S. Attorney Preet Bharara and U.S. Drug Enforcement Administration chief Michele […]
Parliament Speaker Nabih Berri’s son-in-law Ayman Zakaria Joumaa, denied on Saturday involvement in Lebanese-Canadian Bank (LCB) money laundering. “I have nothing to do with Ayman Saeed Joumaa whose name was mentioned in the U.S. Treasury as being involved in money laundering,”
A Lebanese bank has denied accusations by the U.S. Treasury Department that it is involved in laundering hundreds of millions of dollars on behalf of a drug kingpin — and rejected claims it has links with Hezbollah, the Lebanon-based militia.