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US victims of terrorist attacks in Israel sue Swiss bank UBS



By AP
12 May 2008 @ 04:06 pm EST

NEW YORK - Several American victims of terrorist attacks in Israel are demanding more than $500 million in compensation from a Swiss bank.

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The plaintiffs in a federal lawsuit say that UBS AG provided cash to Iran that made it possible for the country to fund terrorism. The lawsuit says UBS knew the money would be used to carry out terrorist attacks.

UBS did not immediately respond to a call seeking comment.

The lawsuit was filed Friday in federal court in Manhattan. It notes that the Federal Reserve fined UBS $100 million in 2004 for violating trade sanctions by sending dollars to Iran and other countries.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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