(CNN) Six families of U.S. citizens killed or hurt in terrorist attacks in the Middle East have filed an $875 million lawsuit against the Arab Bank, accusing it of financing terrorist actions in Israel and the West Bank. The suit alleges that the bank's New York branch laundered Saudi money and distributed it to Hamas and Palestinian Islamic Jihad suicide bombers, to prisoners involved in terrorist activities, and to families of suicide bombers. According to the suit, funds raised through the Saudi Committee in Support of the Intifada Al Quds, an official Saudi non-profit, were converted to dollars at Arab Bank's Madison Avenue branch in Manhattan, then funneled into the personal accounts of terrorists and their families.
2004-07-07 00:00:00Full ArticleBACK Visit the Daily Alert Archive