BREAKING NEWS

Arab Bank says Israel has cleared it of terrorism

By ASSOCIATED PRESS

APRIL 13, 2010 23:07

A Jordan-based bank at the center of a multimillion dollar legal case says Israel has cleared it of involvement in terrorism.

The Arab Bank on Tuesday produced an Israeli military document that says it could not prove the bank's funds were linked to suicide bombings and other deadly attacks. Israeli troops raided the bank's Ramallah branch more than six years ago and seized millions of dollars.

The news could undermine a massive lawsuit filed by hundreds of relatives of Israeli victims of Palestinian militant attacks in a New York federal court. The bank issued a statement saying the military stand was consistent with the bank's position that "the claims in the pending lawsuits have no merit."

The Israeli military confirmed it sent the letter.

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