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| Manhattan DA shuts down terror $3bil terror finance pipeline through unnamed bank |
| 2006-04-04 |
| EFL. Woo hoo! Look for more begging letters between various branches of Al Qaeda, as the home office find itself in ever more straitened circumstances. Manhattan District Attorney Robert Morgenthau has shut down a massive terror-finance pipeline in which a whopping $3 billion in profits from drug deals and other crimes flowed through a major New York bank to Middle East Evidence developed in the course of a three-year probe, which has already resulted in charges against other New York-based financial institutions, revealed that about $3 billion that flowed through the account over a two-year period was going to terror groups Hamas, al Qaeda and Hezbollah, Morgenthau said. "I can't go out and arrest Osama bin Laden. But I can try to cut off his money," Morgenthau said of his massive probe. He said most of the $3 billion in suspicious funds were generated, through criminal enterprises, in the lawless tri-border region of Brazil, Argentina and Paraguay. Over a two-year period, the $3 billion was sent to the New York bank account by a shadowy money-transmittal company in Montevideo, Uruguay. The money then flowed into bank accounts in the Middle East locations including Riyadh, Saudi Arabia, Beirut, Lebanon, and Ramallah in the Palestinian territories. The probe of the New York bank grew out of the Manhattan DA's previous 2004 prosecution of the Beacon Hill Services Corp., an Upper East Side money transmitter that moved more than $9 billion in suspect funds through accounts in Chase Manhattan Bank and other institutions. |
| Posted by:trailing wife |
| #11 Don't fergit the RICO-famous Bank of New York and its subsidiaries??? |
| Posted by: JosephMendiola 2006-04-04 23:36 |
| #10 I remember when Citicorp was an enthusiastic participant of the first Arab boycott of those companies doing business with Israel. |
| Posted by: trailing wife 2006-04-04 22:50 |
| #9 Great News, but how come it took so long..RB has touched on this scandel before. Looks like an inside help thingy. |
| Posted by: RD 2006-04-04 21:08 |
| #8 I just Googled LARGEST BANK NEW YORK and got a list Top 150 Largest Banks Source: American Banker, 9/05. Rank Name Headquarters Deposits (billions) Assets (billions) 1 Bank of America Charlotte, NC $630 $1,214 2 Citicorp New York, NY $569 $1,490 3 JP Morgan Chase New York, NY $531 $1,179 4 Wachovia Charlotte, NC $299 $507 5 Wells Fargo San Francisco, CA $273 $435 6 Washington Mutual Seattle, WA $172 $337 Note only Citicorp and J P Morgan are NY based |
| Posted by: Redneck Jim 2006-04-04 20:15 |
| #7 Whoa! Shot in the dark on my part. Small world. |
| Posted by: 6 2006-04-04 19:35 |
| #6 The son of. |
| Posted by: Nimble Spemble 2006-04-04 18:56 |
| #5 Morgenthau has shut down a massive terror-finance pipeline Any relation to the Morgenthau Plan Morgenthau? |
| Posted by: 6 2006-04-04 18:48 |
| #4 There is always more to this than meets the eye. Remember that such transactions leave very detailed fingerprints hither and yon. Part of the deal means that we now own the information that had previously been secret. We might decide to keep some of the pipelines open, to see who uses them; or to provide marked cash to the end users. We might fudge some of the accounts, so right after a major transaction suddenly funds are "not available", leading to much bad feelings. In fact, this thing is only probably being closed down now that we have squeezed every drop of blood out of it. |
| Posted by: Anonymoose 2006-04-04 16:03 |
| #3 I suspect that until the settlement is signed, sealed and delivered Morgenthau will keep his mouth shut. It isn't clear to me why they announced what they did unless it is a negotiating ploy. There is little doubt that we would see the biggest run on a bank since 1932 if the name of the institution were made public regardless of how obscure the bank is. |
| Posted by: Nimble Spemble 2006-04-04 15:16 |
| #2 I live in manhattan, have a chase and hsbc acct. if I find it's them, I'm moving my accts. wish morganthau divulged who it is. |
| Posted by: PlanetDan 2006-04-04 15:05 |
| #1 I can't go out and arrest Osama bin Laden. But the Democrats can. Good job, Mr. Morganthau. This is just as important as shooting a bunch of jihadis. |
| Posted by: Jackal 2006-04-04 15:05 |