Kenneth Rijock

Kenneth Rijock

Wednesday, June 26, 2013

DOJ LEVIES $102m FINE ON LEBANESE CANADIAN BANK ASSETS


The United States Attorney for the Southern District of New York has announced a settlement of the 2011 civil suit*, filed against the Lebanese-Canadian Bank, in liquidation, for $102m, for laundering Hezbollah criminal proceeds.



In addition to the liquidators of the bank, the Stipulation was executed by Société Géneralé de Banque Au Liban SRL, which acquired certain bank assets. Readers who wish to review the US Attorney Press Release, and the complete text of the Stipulation & Order in the case, it can be accessed here**. (The Stipulation is a link at the bottom of the Press Release).


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*United States vs, Lebanese Canadian Bank, et al, Case No.: 11-cv-9186 (SDNY). 
**Stipulation and Order of Settlement regarding Lebanese Canadian Bank and Société Géneralé de Banque Au Liban SRL

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