Font Size

- Aa +

Sun 25 Sep 2011 11:49 AM

Font Size

- Aa +

Lloyd's drops $215m terror lawsuit against Saudi

No details given of scrapped case, which had accused Saudi of funding al-Qaeda

Lloyd's drops $215m terror lawsuit against Saudi
Lloyd’s had alleged Saudi used ‘agents and alter egos’ to help fund terror group al-Qaeda
Lloyd's drops $215m terror lawsuit against Saudi
Lloyd’s had alleged Saudi used ‘agents and alter egos’ to help fund terror group al-Qaeda
Lloyd's drops $215m terror lawsuit against Saudi
Lloyd’s alleges Saudi used ‘agents and alter egos’ to help fund terror group al-Qaeda

A
Lloyd’s insurance syndicate that launched a legal case accusing Saudi Arabia of
indirectly funding terror group al-Qaeda, has withdrawn its lawsuit, it was
reported Sunday.

The
Brighton-based Lloyd's 3500 syndicate, which was seeking the repayment of $215m
it paid out to victims of the 9/11 attacks, has dropped the case without
stating the reasons behind decision, The Tribune-Democrat of Johnstown
reported. 

“I am
instructed to make no comments, other than to say the lawsuit was voluntarily
dismissed,” Lloyds attorney Stephen Cozen said.

The case
was dismissed “without prejudice,” said the newspaper.

Details
of the case, which alleged Saudi Arabia used “agents and alter egos” in the
form of banks and charities to fund the right-wing Islamist group, were
released on Sept 19.

The case
accused nine defendants - including Saudi’s largest lender, National Commercial
- of “knowingly” providing resources and funding to aid the Osama bin Laden-led
terrorist group. Among those

The
legal claim, filed in federal court in Pittsburgh, alleged this “lavish
sponsorship” directly helped enable the 9/11 terror attacks, which killed
nearly 3,000 people.

“Al-Qaeda's
development into a sophisticated global terrorist network was fueled primarily
by the massive support it received from purported charities acting as agents
and alter-egos of the government of the Kingdom of Saudi Arabia,” the document
claimed.

“Absent
the sponsorship of al-Qaeda's material sponsors and supporters, including the
defendants named therein, al-Qaeda would not have possessed the capacity to
conceive, plan and execute the 11 September attacks.”

Saudi
Arabia has long denied offering any practical or financial support to al-Qaeda
and a US government report on 9/11 found no evidence the Gulf state’s
government had aided the terrorist cell.

We Are The People 8 years ago

As I commented earlier, this lawsuit was going nowhere fast. No reasonable evidence can be presented by Lloyd's, and no Federal Judge would like to try this case. I guess good news to the Saudis Lloyd's dismissed the case “without prejudice,”

jal 7 years ago

I'm willing to bet in the coming 30 days we see Lloyds MENA operations taken over by a GCC based bank, probably Saudi.