US authorities say banking institution ‘plays key role in facilitating money laundering for Hezbollah’ so, funds wired by Beirut-based Lebanese Canadian Bank were ‘frozen’.
By AFP
US authorities on Monday announced the seizure of $150 million allegedly linked to a scheme by the Lebanese militant group Hezbollah to launder proceeds from drug trafficking and other crimes.

Hezbollah Chief Sheikh Hassan Nasrallah Photo: Reuters
The money came from a US bank account used by the Beirut-based Lebanese Canadian Bank (LCB) to conduct US currency transactions, US Attorney Preet Bharara and US Drug Enforcement Administration chief Michele Leonhart said.
Washington considers the Shiite militant group a terrorist organization. Continue Reading »