US seizes $150 m. from 'laundering' Lebanese bank

August 21, 2012 02:06

NEW YORK - US 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 Hezbollah.

In February 2011, the US 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.

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