Hundreds of families of U.S. military and civilian contractors who were victims of terrorism in Iraq and Afghanistan have filed lawsuits against six global banks accused of entering into a conspiracy with Iran. The banks are accused of masking wire transactions in order to evade U.S. sanctions, and fund terrorist attacks.
The accused banks include Barclays Plc, Royal Bank of Scotland Group Plc, Credit Suisse Group AG, HSBC Holdings Plc, Standard Chartered, and the Britain-based subsidiary of Bank Saderat Iran.
The Plaintiffs currently include more than 400 service members and/or their families across 32 states who were killed or injured between 2003 and 2011 by Iraqi terrorist groups trained, funded and armed by Hezbollah and the IRGC-QF, a branch of the Islamic Revolutionary Guard Corps that supports terrorist organizations, as well as those killed or injured by IEDs, or roadside bombs.
The Plaintiffs are American service members ranging from privates to colonels, as well as the family of an American journalist, who was killed while reporting from Basra, Iraq.
The lawsuit was brought under the U.S. Anti-Terrorism Act, U.S. Code, 18 U.S.C. § 2333(a). The 1992 law permits U.S. citizens and their families to seek damages from international terrorism.
According to the suit, Iran used and continues to use the global banking system to funnel hundreds of millions of dollars to Hezbollah and the IRGC-QF. To evade detection, Iranian banks enlisted many of the world’s largest financial institutions to help cover up the web of transactions in support of its terrorist activities.
If you or a family member was killed or injured in an IED attack in Iraq or Afghanistan between 2001 and the present date, you may have a potential claim against these banks. Contact Allen & Allen attorney Jason Konvicka to learn more.