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Terror Victims Sue UBS Again for Allegedly Banking Terrorists
By Brian Orsak
printSwiss bank UBS faces its second civil lawsuit in five months for allegedly processing transactions tied to Middle Eastern terrorist organizations. Plaintiffs in the latest suit say the bank should pay no less than $500 million for providing financial services to Iran, a country sanctioned by the United States as a state sponsor of terrorism. Those services contributed to at least eight terrorist acts between July 1997 and July 2006, plaintiffs allege. Because UBS provided services to Iran, a country that gives support to terrorist groups Hamas, Hizbollah and the Palestinian Islamic Jihad, the bank is liable for the actions...
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