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Lebanese bank funding group linked to Hizbullah
[Jerusalem Post Front Page] The US Treasury Department and the Drug Enforcement Administration said Thursday that a Lebanese bank has been laundering hundreds of millions of dollars in drug money for a drug trafficking group with ties to Hizbullah.The agencies said that Lebanese Canadian Bank SAL has been designated a "primary money laundering concern" for allegedly helping launder up to $200 million a month for a Lebanese-based drug smuggling group they said is run by drug kingpin Ayman Joumaa. The government said the drug organization has provided financial support for Hizbullah, which the US has designated a terrorist organization. The Treasury Department also proposed limits on how US financial institutions can work with the bank. Posted by: Fred 2011-02-11 |
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