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Families Of Slain Students File Suit Against Bank of China
Fox Business ^ | October 23, 2012 | Liz Moyer

Posted on 10/24/2012 12:23:19 AM PDT by ilcenter

The families of eight Israeli high school students killed in a March 2008 shooting in Jerusalem filed a $1 billion lawsuit against Bank of China (3988.HK), alleging it "intentionally and recklessly" provided banking services to terrorist groups through its New York branch.

The civil lawsuit, filed Tuesday in New York state court, alleges that Bank of China made dozens of wire transfers for the Palestinian group Hamas totaling several million dollars beginning in 2003.

The dollar transfers were initiated by Hamas leadership in Iran and Syria, the lawsuit says, processed through the Bank of China's U.S. branches and sent on to a Bank of China account in China that was linked to a senior officer and agent of Hamas and the Palestine Islamic Jihad. Then the funds were transferred to Hamas and other groups in the Gaza strip and West Bank and used to carry out terrorist attacks, the suit says.

The lawsuit also alleges that Israeli counterterrorism officers met with officials from the Chinese Ministry of Public Security and China's central bank in 2005 and demanded they move to prevent the Bank of China from making further wire transfers, but the demands were ignored.

A representative for Bank of China in New York could not immediately be reached.

Bank wire transfer operations, particularly those moving money from abroad to the U.S. and vice versa, have received attention in the U.S. in recent years.

Last month, Britain's Standard Chartered (STAN.LN) agreed to pay $340 million to New York's state banking regulator to settle claims it violated U.S. trade sanctions by handling transactions for Iranian customers.

New York's Department of Financial Services had accused Standard Chartered of moving $250 billion of transactions through its New York branch for Iranian customers over six years. Federal regulators have also been probing the bank.

The five families named as plaintiffs in the Bank of China suit seek $1 billion in compensatory and punitive damages. The eight students died on March 6, 2008, when an alleged member of an Islamic terrorist organization entered the grounds of Jerusalem's Mercaz Harav Yeshiva and opened fire on hundreds of students, according to a press release issued by Shurat Hadin, the Israeli law center representing the plaintiffs, on Tuesday.

TOPICS: Crime/Corruption; Extended News; Foreign Affairs; Israel
KEYWORDS: bankofchina; china; lawsuit; terrorism

1 posted on 10/24/2012 12:23:31 AM PDT by ilcenter
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To: ilcenter

Actual complaint:

2 posted on 10/24/2012 1:09:38 AM PDT by ilcenter
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To: ilcenter

Screw Homeland Security. Use our oppressive, sue happy legal system to crush these enablers. Put our burden to some good use. Open our courts to anybody, globally, who has a beef with terrorism. We’re the only ones who can enforce this shit anyway. At least financially.

Sue me? Sue everybody!

3 posted on 10/24/2012 1:41:51 AM PDT by mindburglar (I'm not "The Man" anymore. Stick it to someone else.)
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So...people who still support Free Trade with Communist China are also, by proxy, sponsoring and supporting Middle Eastern terrorist groups?

Wonder how much the ChiComs will bribe the judges?

4 posted on 10/24/2012 3:25:31 AM PDT by SeminoleCounty (Political maturity is realizing that the "R" next to someone's name does not mean "conservative")
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To: ilcenter

That’s ridiculous. A measely billion isn’t nearly enough.

5 posted on 10/24/2012 4:44:34 AM PDT by freedomfiter2 (Brutal acts of commission and yawning acts of omission both strengthen the hand of the devil.)
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To: dennisw; Cachelot; Nix 2; veronica; Catspaw; knighthawk; Alouette; Optimist; weikel; Lent; GregB; ..
Middle East and terrorism, occasional political and Jewish issues Ping List. High Volume

If you’d like to be on or off, please FR mail me.


Hamas, beingn a designated terror group, and this being a New York branch, I'm sure I just missed the news about a paralell criminal case.

6 posted on 10/24/2012 5:40:04 AM PDT by SJackson (none of this suggests there are hostile feelings for the US in Egypt, Victoria Nuland, State Dept)
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To: SJackson

I just noticed your new tagline...classic!

7 posted on 10/24/2012 6:55:31 AM PDT by bayouranger (The 1st victim of islam is the person who practices the lie.)
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