U.S. authorities announced the seizure of $150 million allegedly linked to a money-laundering scheme by the Lebanese terrorist group Hezbollah.

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, according to the Manhattan U.S. Attorney’s Office.

Money from the sale of the cars was then routed to Lebanon, where it was handed over to Hezbollah, according to the attorney’s office.

Forwarding the News

Thoughtful, balanced reporting from the Forward and around the web, bringing you updated news and analysis each day.

Terms(Required)

I agree to the Forward's Terms of Service and Privacy Policy

Email(Required)

Monday’s seizure concerns a December 2011 money laundering and forfeiture complaint filed in U.S. federal court in New York that targeted the bank and two other Lebanese financial institutions with alleged ties to Hezbollah.

“As we alleged last year, the Lebanese Canadian Bank played a key role in facilitating money laundering for Hezbollah controlled organizations across the globe,” Drug Enforcement Administration chief Michele Leonhart said in a statement.

A Hezbollah official refuted the charges, saying they were “another attempt to tarnish the image of the resistance in Lebanon,” but U.S. prosecutors said there was no doubt about the institutions’ ties to the militant outfit, AFP reported.

The Forward is free to read, but it isn’t free to produce

I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward.

Now more than ever, American Jews need independent news they can trust, with reporting driven by truth, not ideology. We serve you, not any ideological agenda.

At a time when other newsrooms are closing or cutting back, the Forward has removed its paywall and invested additional resources to report on the ground from Israel and around the U.S. on the impact of the war, rising antisemitism and polarized discourse.

Readers like you make it all possible. Support our work by becoming a Forward Member and connect with our journalism and your community.

This is a great time to support independent Jewish journalism you rely on. Make a gift today!

—  Rachel Fishman Feddersen, Publisher and CEO

Support our mission to tell the Jewish story fully and fairly.

$90 $180

$360

Other amount