Marine Links British Bankers’ Money Laundering to Hezbollah’s Libor Building 7

United States Marine and virtual presidential candidate, Field McConnell, has linked the British Bankers’ Association’s decades-old money-laundering operation in New York to Hezbollah’s share in a Libor-rated mortgage on WTC Building 7.

McConnell claims Hezbollah’s dirty money moved into a WTC#7 Libor lease and pass-through insurance certificates held by Bank of America – the master servicer for a BBA RICO cartel which included Lebanese Canadian Bank, Citibank and Standard Chartered.

“'You owe us $6 bln for 9/11' - US to Iran, Al-Qaeda, Hezbollah & Taliban”


“World Trade Center Building 7 The Evidence”


“Blackstone Sets Sights on 7 World Trade Center - Blackstone Group looks to win control of 7 World Trade Center - Real Estate Alert, Oct 9, 2000 Blackstone Group could be gearing up to battle developer Larry Silverstein for control of 7 World Trade Center. Blackstone has quietly acquired Teachers Insurance’s interest in nearly $500 million of debt on the heavily leveraged property, which is now owned by a Silverstein partnership. Blackstone bought a $242 million second [Libor-rated] mortgage on the 2 million-square-foot property and assumed Teachers’ guarantee on the $250 million first mortgage. Blackstone presumably bought the debt because it is angling to gain control of the Lower Manhattan tower. However, it is not clear if the firm has worked out an agreement with Silverstein or if the developer plans to fight to retain the property.

The $250 million first mortgage, which was securitized, matures Dec. 1. If Silverstein cannot pay off or refinance the loan, Blackstone would be obligated to make good on the payment. It would then become the senior creditor and be able to begin foreclosure proceedings. Silverstein may have a hard time lining up a $500 million refinancing. Teachers originally financed the property in 1987 [leveraged lease deal arranged by Obama’s colleagues at Sidley Austin for rapid debt recovery on demolition] , when it was constructed. The building’s value subsequently dropped when the real estate market crashed, and has not fully rebounded. Teachers split the debt into two chunks in 1993 and securitized the senior portion as a way to remove it from its books. But the insurer was required to provide a guarantee. The 47-story tower is nearly fully leased. Salomon Smith Barney occupies about half of the property, with the Securities and Exchange Commission, ITT-Hartford and American Express among the other prominent tenants. Average rents in the building are among the highest in lower Manhattan -- in the neighborhood of $60/sf. COPYRIGHT 2000 Harrison Scott Publications, Inc. COPYRIGHT 2001 Gale Group”

“US seizes $150 million from Lebanese bank in laundering scheme

08/20/2012
Tue Aug 21, 2012 3:08am IST
* Money originated in Beirut, smuggled back by Hezbollah
* Bank merged with Lebanese unit of Societe Generale
By Basil Katz

NEW YORK, Aug 20 (Reuters) - U.S. authorities said on Monday that they had seized $150 million from a Lebanese bank suspected of being at the heart of international money-laundering schemes linked to the Lebanese Shi'ite group Hezbollah.

In February 2011, the U.S. Treasury department designated the Lebanese Canadian Bank as a "primary money-laundering concern." The privately owned bank was subsequently merged with the Lebanese subsidiary of Societe Generale.

Federal prosecutors in Manhattan and the U.S. Drug Enforcement Administration accused bank officials of knowingly participating in a scheme in which money from various individuals and companies in Beirut was sent from Lebanon to purchase used cars in the United States. The cars were then sold in West Africa, and Hezbollah-linked groups would help smuggle the proceeds into Lebanon, authorities said.

Hezbollah is a Shi'ite Islamist guerrilla and political movement founded with Iran's help after the Israeli invasion of Lebanon in 1982.

Washington considers Hezbollah to be a terrorist group. U.S. officials say that it has become increasingly involved in the drug trade, facilitating the distribution and sale of cocaine in West Africa.

The money seized was held in corresponding accounts at five different banks in the United States, including Citibank and London-based bank Standard Chartered. The five banks have not been accused of any wrongdoing.

An attorney for the Lebanese Canadian Bank did not immediately return a call seeking comment.”

“On the surface, it looked like a simple game of “Gotcha,” when New York Bank regulators blew the whistle on London’s Standard Chartered Bank for laundering money. The fact that the money was allegedly tied to Iran cast a major shadow on the allegations, given the Islamic Republic’s “bad guy” image in American policy circles.

Big money was said to be involved when a NY State regulator, Benjamin Lawsky, considered a publicity seeking cowboy in banking circles, made the explosive charge that Standard Chartered bank abetted $250 billion of money-laundering transactions with Iran.

On the surface the case was open and shut and headline-making, even though other federal regulators didn’t immediately jump in with guns blazing.

Then, as Reuters [Libor wager of dog and data compiler for BBA money laundering] reported, it all became even murkier when Britain’s Central Bank governor portrayed Lawsky as marching to his own tune, and out of step with federal regulators in Washington. "One regulator, but not the others, has gone public while the investigation is still going on,” the Bank of England's Mervyn King said at a news conference in London.”

Suddenly, the plot thickened, even as the media tide carried with it the assumption that the bank was guilty as sin. With the Regulator calling Standard Chartered a “Rogue Institution,” its shares began dropping in value. In one morning’s trading, on the basis of accusations in a press release and uncontested legal charges, the bank lost $16 billion after the unproven allegations that US. Sanctions on Iran were violated hit the press.”

More to come.



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