Veterans Sue Major Foreign Banks For Funnelling Money To Iraqi Militants

A raft of major foreign banks got hit Tuesday with a civil lawsuit alleging that they helped militant groups attack U.S. troops in Iraq, according to Reuters and other reports. http://www.rferl.org/content/iraq-iran-usa-lawsuit/26685198.html The suit, filed by about 200 veterans in federal District Court in Brooklyn Monday, accuses the banks of ignoring U.S. sanctions placed on Iran. The banks allegedly helped mask the movement of about $100 million from the U.S. to Iran, which used the money to sponsor attacks on U.S. soldiers in Iraq. Iranian-sponsored groups included the Revolutionary Guard Corps, Kataib Hezbollah and Iran's Quds Force, according to the lawsuit, filed under the Antiterrorism Act of 1990. The act enables Americans to claim damages for injuries caused by terrorism anywhere in the world. Defendants in the suit include Barclays PLC,

Credit Suisse Group AG.

HSBC Holdings plc,

Royal Bank of Scotland Group PLC

and London-traded Standard Chartered PLC.