Jordan: Arab Bank Found Liable for Funding Terrorism
In a landmark decision, a U.S. jury found the Jordan-based multinational Arab Bank liable for 24 counts of supporting terrorism by transferring funds to Hamas.
The New York jurors deliberated for nearly two full days after a monthlong trial before reaching their verdict in September 2014. Authorities filed the federal lawsuit in 2004. “This is an enormous milestone,” said Gary Osen, a lawyer on the team representing about 300 American relatives and the victims of 24 attacks carried out in Israel and the Palestinian territories.
For the first time, a financial institution is liable for supporting terrorism. Arab Bank, which has assets worth U.S. $46.4 billion, said it would appeal the decision.
The defense argued there was no evidence Arab Bank executives supported terrorism and denied the allegation that the institution knowingly made payments to designated terrorists.
Plaintiffs said the bank transferred more than
U.S. $70 million to an alleged Saudi terror group that ran charities they claim were a front for Hamas and 11 globally designated terrorist clients. Agence France-Presse