U.S. District Judge George Daniels in Manhattan today said that Hezbollah, designated a terrorist group by the U.S. State Department, must pay the damages to insurers includingChubb Corp. (CB) that sought to recoup payments to business and property policyholders for losses from the attacks. The insurers won default judgments in 2006 against al-Qaeda and Hezbollah after […]
Congressional Report: Hezbollah has “several thousand” donors in the USA
A report issued by the House Homeland Security Committee indicates that Hezbollah has a large and threatening presence inside the USA and is successfully raising funds inside the USA to support its Jihad. Among the findings outlined in the report which are particularly relevant for SFW readers: • Counterterrorism officials consider Hezbollah fundraising cells to […]
The Washington Institute for Near East Policy has published a good report on the Jihadist terrorist group Hezbollah’s (spelled in the report as “Hizballah”) criminal activities, their money laundering and finance activities in particular, which will no doubt be of interest to SFW readers. Here are some excerpts and a link to the full report: […]
Iran to issue $5 billion in Islamic bonds for South Pars oil and gas project
Iran, the world’s foremost state sponsor of Jihadist terrorism and a country that is building nuclear weapons in defiance of United Nations resolutions, is set to issue $5 billion in sukuk (Islamic bonds) to finance its huge South Pars offshore oil and gas field. Five billion dollars in bonds will be issued in the current […]
The FBI issued a warrant for a man in Dearborn, Michigan named Ali Hammoud. The warrant was related to a case in which the proceeds from bootleg cigarettes went to the Jihadist terrorist group Hezbollah. It appears that the FBI may have gotten the wrong Ali Hammoud of Dearborn though…which prompts the question: Where is the Hezbollah […]
The Washington Times has published an op ed that points out that the US and the West have done a lousy job of enforcing sanctions already in place against Iran. Among the sanctions already imposed are restrictions against doing business with Bank Melli and Bank Sepah, two of the largest Shariah-compliant financial institutions in the […]
Correcting The New Misinformation on Islamic Charities Funding Jihadist Terrorism
The Guardian in the UK has come out with an article (“Counterterrorism laws taking their toll on humanitarian action”) critical of US counterterrorism efforts that are designed to prevent the funneling of money to Jihadist terrorist groups, especially in Gaza and Somalia, two hotbeds of Jihadist terrorist activity. When ever we see misguided and ignorant […]
Grover Norquist’s Relationships Should Give People Pause
Congressman Frank Wolf of Virginia has done America a great service in pointing out for the official congressional record the troubling ties of political operative Grover Norquist. Norquist’s financial ties to convicted Jihadist terror financiers are both shocking and suggestive that he should have no place in the political process in America… Wolf questioned Norquist’s […]
Last week Siavosh Henareh, Bachar Wehbe, Cetin Aksu, and Taza Gul Alizai were indicted by the US Justice Department for seeking to use the sale of drugs to fund the Salafist Sunni Jihadist organization the Taliban and the Shiite Jihadist organization Hezbollah. The suspects were all arrested overseas and brought back to the USA for arraignment in […]
In what may be the most absurd outrage to date from the disgraceful Eric Holder Justice Department, there is now a motion afoot to free convicted Al Qaeda terrorist and Muslim Brotherhood operative Abdurahman Alamoudi. Abdurahman Alamoudi was convicted and sentenced to 23 years for his role in financing Al Qaeda and for his role (he […]
…intelligence reports show Hezbollah has been financing training camps and propaganda operations in South America, according to U.S. officials. Their biggest boost came from an agreement signed in 2007 between Venezuelan President Chavez and Iranian President Mahmoud Ahmadinejad. The two leaders agreed to use part of a joint $2 billion investment fund to thwart what […]
Currently Greece faces a debt crisis that, apart from its obvious disastrous financial consequences both in a domestic and in a global scale, also raises security concerns related to terrorist networks of Islamist origin. In Athens, Greece, the Iranian Saderat bank is hosted, which is a U.S black-listed institution due to alleged links with Hezbollah. […]
A State Department official admitted in a Congressional hearing that the Jihadist terrorist group Hezbollah is raising money in Venezuela, but the Obama administration continues to soft sell Hezbollah activities in the Western hemisphere… http://www.cnsnews.com/news/article/hezbollah-activity-venezuela-limited-fun
From time to time, we here at SFW have been critical of The Economist. In the past The Economist has run what amount to advertorials for Shariah-Compliant Finance and even their more balanced articles have ignored the real concerns surrounding Shariah Finance. Then there was the time that The Economist lashed out at those Americans […]
A U.S. District Judge sentenced Amera Akl of Ohio to just over three years in prison after she and her husband had pleaded guilty in May to their involvement in a plot to send money to Hezbollah. Akl reportedly told the judge that she knew that up to $1 million would be going to Hezbollah, […]
A Muslim married couple from Toledo, Ohio have pleaded guilty to charges that they planned to provide money to Hezbollah, a plea deal that unfortunately spares them from the life sentences that they rightfully deserve. Hor and Amera Akl planned to send $1 million to Hezbollah, the Lebanese-based Jihadist terrorist organization that bombed the US […]
Al Qaeda called a ‘money making machine’ by British official–that’s not even HALF the story
The article below from The Telegraph in Great Britain quotes a British Foreign Office director as describing Al Qaeda as a “money making machine,” due to Al Qaeda in the Islamic Maghreb’s practice of ransoming hostages for money. Evidently, Italy, Spain, Austria and Switzerland have all paid such ransoms to the Jihadist terrorist organization. This […]
According to the indictment, Hamdan helped arrange a deal where a Hezbollah operative would sell an informant $1 million in counterfeit money. The first installment of the fake cash, about $10,000, was mailed to Philadelphia hidden in photo albums, the indictment said. The high-level operatives also sought to buy 1,200 Colt M4 machine guns from […]
The US Department of the Treasury took action against the Lebanese Canadian Bank SAL this week, charging that the bank facilitates Jihadist terrorist group Hezbollah’s money laundering activities. In its 14 page report the Treasury Department designated the bank as being of “primary money laundering concern,” the effect of which is to place sanctions on […]
In 2002, Mohamad Hammoud was sentenced to 155 years in prison on terrorism charges. The Charlotte, North Carolina man was convicted of raising money for the Jihadist terrorist organization, Hezbollah. This case was the subject of an excellent book called “Lightning Out of Lebanon.” Unfortunately, federal judge Graham Mullen has reduced Hammoud’s sentence, making it […]
Money Jihad has a must-read post about the system that Hezbollah uses to fund its Jihadist terror… http://moneyjihad.wordpress.com/2010/06/03/hezbollah’s-“martyrs-foundation”/
Are We Financing Our Own Demise?
Gadi Adelman and the intrepid Joy Brighton have just published an outstanding analysis of Shariah-Compliant Finance over on the Financial Security Matters site. Please take the time to read it and pass it on to your friends and associates: http://www.familysecuritymatters.org/publications/id.5632/pub_detail.asp
Victims of 2006 Hezbollah rocket attacks sue Iran’s top banks
In yet another clear demonstration of the nexus between Shariah Finance and Jihadist terrorism, 85 people identified as victims of Hezbollah rocket strikes in Israel in 2006 have sued Iran’s leading banks in a U.S. court. The suit in U.S. District Court in Washington seeks $1 billion in compensatory damages from Iran’s Central Bank and […]
Shadowy Luxembourg Private Banking Firm Tied to Iranian Funds Seized in New York
The U.S. Justice Department has seized over $2 billion in funds alleged to belong to the government of the Islamic Republic of Iran. The funds were being held by Citigroup on behalf of a private banking firm based in the tiny European nation of Luxembourg. That firm is named Clearstream Banking S.A. While Clearstream is […]
A Shameless, Shallow Advertorial for Shariah Finance from Oxford Analytica and Forbes.com
Malcom Forbes must be spinning in his grave. His namesake publication’s web site has published an article which basically promotes a financial and economic system which by its very nature seeks to replace capitalism and our free enterprise system: http://www.forbes.com/2009/12/10/islamic-finance-after-dubai-business-oxford-analytica-islamic-finance.html?feed=rss_business In fact, the article reads less like journalism and more like a press release from […]
Just a few days ago, the Kuwaiti News Agency (KUNA) was proclaiming that Islamic banking was thriving in Lebanon. It appears that all is not actually so great in Lebanon when it comes to Islamic finance, but we won’t hold our breath waiting for KUNA to report this story. It seems Hezbollah has gotten its […]
Once again courtesy of the Kuwait News Agency (KUNA), we get a nice fictional piece about the performance of Shariah banks in the current economic crisis…and the news that the industry is thriving in Lebanon. http://www.kuna.net.kw/NewsAgenciesPublicSite/ArticleDetails.aspx?id=2042518&Language=en
Douglas Farah on Iran’s Expanding Latin American Reach
Douglas Farah is one of America’s most valuable experts on the subject of Jihad and the financial aspects of Islamist terrorism. On Friday, 23 October, Farah posted an excellent article on Iran’s continuously growing activities in the Western Hemisphere, with a particular emphasis on Iran’s inroads into the financial services sector in Central and South […]
A prominent Lebanese businessman was charged over the weekend with embezzlement, distributing invalid checks and violating Lebanese fiscal laws in a case that local media have estimated could represent a loss of hundreds of millions of dollars to investors. Salah Ezzedine, a financier and business mogul from Lebanon’s Shiite Muslim community who has ties to […]
Yemeni men plead guilty in NY to money laundering
Three Yemeni businessmen in western New York have pleaded guilty to money laundering charges, ending their federal court trial. The men were charged in March 2007 after authorities said they sent $200,000 overseas knowing it was illegally obtained and could benefit the Iranian-backed, Lebanese-based Jihadist terrorist group Hezbollah. These men will be sentenced to between […]
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