Feds seize $150M in Hezbollah terror probe


hezbollah Feds seize $150M in Hezbollah terror probe


The feds seized $150 million today as part of a probe into alleged money-laundering by a since-defunct bank on behalf of the Hezbollah terror group.

The funds represent proceeds of an elaborate scheme allegedly perpetrated by the Lebanese Canadian Bank to funnel illegal drug proceeds to Hezbollah.

According to the Manhattan US Attorney’s Office, the Lebanese Canadian Bank and other unidentified institutions sent nearly $330 million to the United States between 2007 and 2011 to finance the purchase of used cars that were shipped to West Africa.
The money from the sale of the cars was then routed to Lebanon, where it was handed over to Hezbollah.

Although the Lebanese Canadian Bank was shuttered after the feds filed a civil money-laundering suit in late 2011, its assets were purchased by another bank, the Societe Generale de Banque Libano Francaise.

The seized money was being held in escrow by an unidentified American bank as part of that sale, the feds said.