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UBS Expected to Respond to Terror Finance Suit This Month
By Brian Orsak
printA federal court has ordered UBS to respond this month to a lawsuit claiming that the financial institution knowingly transferred millions of dollars for a group blacklisted by the U.S. for terrorist acts. Plaintiffs charge in the lawsuit, filed in a U.S. district court in New York, that Switzerland-based UBS knowingly provided financial services for Hamas, a Palestinian political organization blacklisted in the U.S. for terrorism since 1995. The group is purportedly responsible for 2004 bombing in Bethlehem that resulted in 11 deaths. The widow of victim Stuart Scott Goldberg and their seven children sued the bank in February, citing...
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