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Clearstream Network Sued for Trafficking Iranian Terror Money

Clearstream: "The stream that washes"

COMMENT: Survivors of the 241 Marines killed in the 1983 Beirut barracks bombing have sued Clearstream, a subsidiary of Deutsche Borse (itself owned by the major German commercial banks and, by extension, the Bormann capital network.)

Channeling millions of dollars back to the Iranian regime, Clearstream is alleged to have substantively aided that government’s terrorist infrastructure.

In our visits with the heroic Lucy Komisar, we have seen the apparent role of Clearstream in numerous terror incidents and covert operations, including the Banco Ambrosiano affair, the October Surprise and 9/11.

Bernie Madoff also used a couple of accounts at Clearstream, perhaps as a vehicle for some of the wrongdoing in his operation.

Dubbed “the stream that washes,” by insider wags, Clearstream exemplifies the overlap between the supposedly respectable overworld and the criminal underworld and dark sanctum of black ops.

Note that Clearstream’s parent organization is trying to purchase the New York Stock Exchange, a move being opposed by some lawmakers.

“Deutsche Borse Unit Sued over Alleged Iran Funds” by Jay Solomon; Wall Street Journal; 8/16/2011.

EXCERPT: . . . . The plaintiffs—family members of the 241 U.S. servicemen killed in the 1983 bombing of a Marine Corps barracks in Beirut—are seeking the funds as partial payment of the $2.7 billion that a federal judge in 2003 ordered Iran to pay the victims of the bombing. The judge ruled that Tehran had orchestrated the attack, at the time the largest terrorist act ever committed against U.S. citizens. Iran has denied any role in the bombing.
The plaintiffs, according to records at the U.S. District Court for the Southern District of New York, allege that in 2008 Clearstream and a second financial institution helped Iran move the money out of accounts at Citigroup Inc.’s Citibank unit in New York after a federal court had ordered the funds frozen. The plaintiffs say Clearstream and the second bank fraudulently masked Iran’s control of the accounts as a means to win the release of the money. . . .

. . . . A Clearstream representative said Monday that the company doesn’t comment on ongoing litigation. But Clearstream said in court filings that the money held at its accounts at Citibank was Clearstream’s property, and not Iran’s. . . .

. . . . The Clearstream representative said the company began closing the accounts of its Iranian customers in late 2007 “in light of the political environment at the time.” . . .

. . . . The U.S. District Court for the Southern District of New York initially ordered Citibank in June 2008 to freeze $2.25 billion of Clearstream accounts that the plaintiffs alleged were controlled by Iran. The funds were largely made up of debt instruments rather than cash, according to court documents. Clearstream’s lawyers submitted records that argued $250 million of the frozen $2.25 billion didn’t belong to Iran, and the following month a judge ordered Citibank to release the funds. The plaintiffs are now alleging that the information provided by Clearstream and the second bank was fraudulent. . . .

. . . . Roughly $2 billion remains frozen at Citibank, and the claimants and Clearstream continue to fight for control of the funds at the Southern District Court of New York. That asset seizure, if proved to be Iran’s money, would mark the biggest confiscation of Iranian assets abroad since the 1979 Islamic revolution. . . .

. . . . Clearstream, primarily a clearinghouse for financial trades, specializes in managing transactions for governments. The company says it provides services to more than 60 central banks globally. . . .

. . . . Deutsche Börse is currently in negotiations to take over NYSE Euronext  Inc., which operates the New York Stock Exchange. Some U.S. lawmakers have raised the allegations against Clearstream as a reason that the U.S. government should question Deutsche Börse’s suitability to take over the NYSE. . . .

Discussion

One comment for “Clearstream Network Sued for Trafficking Iranian Terror Money”

  1. In Canada, a group of banks and pension funds presented a counter-offer to a Toronto Stock Exchange and London Stock Exchange “merger” recently. If we remember, the LSE presented a bogus “merger” offer, which was in fact a takeover, to buy the TSX. This group of banks and pension funds succeeded to have the deal aborted and for the moment, Canadians are still in control of their Stock Exchange. Now it’s your turn, I am speaking to you, all Americans, to do the same. Save your Stock Exchange. If you let this deal happen, as the information here details it clearly enough, you are through, it’s over. Make a stand for America and save your asses while you still can.

    Posted by Claude | August 17, 2011, 9:01 pm

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