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

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.