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Mon 19 Sep 2011 10:46 AM

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Lloyd’s sues Saudi to recover $215m in 9/11 claims

Lloyd’s alleges Gulf state used ‘agents and alter egos’ to help fund terror group al-Qaeda

Lloyd’s sues Saudi to recover $215m in 9/11 claims
Lloyd’s alleges Saudi used ‘agents and alter egos’ to help fund terror group al-Qaeda
Lloyd’s sues Saudi to recover $215m in 9/11 claims
Lloyd’s alleges Saudi used ‘agents and alter egos’ to help fund terror group al-Qaeda

A Lloyd’s insurance syndicate has launched a landmark legal case against Saudi Arabia, accusing the Gulf state of indirectly funding terror group al-Qaeda.

The Brighton-based Lloyd's 3500 syndicate is seeking the repayment of $215m it paid out to victims of the 9/11 attacks, alleging the Gulf state used “agents and alter egos” in the form of banks and charities to fund the right-wing Islamist group.

The case accuses 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, alleges 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.

The Gulf kingdom has arrested 11,527 people since the attacks for their alleged
involvement in terrorism, the Saudi Ministry of Interior said on April 24. In July, a Saudi court
started trials against 85 suspected al-Qaeda militants for their alleged roles
in attacks against three housing compounds in Riyadh in May 2003.

The suit seeks recovery of amounts paid in settlement of 9/11 aviation cases. The families of about 600 people killed in the attacks sued National Commercial in 2002 seeking to freeze the assets of the bank.

*With agencies

Cure 8 years ago

Funny... Shouldn't they also sue the US government for training key Al-Qaeda leaders during the war between Afghanistan and the Soviet Union??

Money Masters 8 years ago

The western banking system is desperate for cash, this is one way of getting it I suppose, turn on your allies (not friends), confiscating other countries wealth.

We Are The People 8 years ago

Oh please....Lloyd's needs cash, lots of it, their revenue is hitting bottom. Few years back, a similar lawsuit was filed with New York Federal District Court, the judge threw it out. Saudis been down this road before, this lawsuit is not going anywhere fast.

Lloyd's will never do business in Saudi Arabia, now that's not smart at all.

ipstac 8 years ago

Nice way of Clearing US Debt Crisis i believe! What a shame everybody knows about the truth behind the 911 attacks, wonder why still they are behind Al Qaeda. You should try your stunts with the US Government and Israel who are the root cause for the terror in this world. Go back home with all your troops and live peacefully and let others live peacefully. Enough of playing with the minds of innocent people.

IM 8 years ago

Ridiculous, how dare are they?!!...Well in this case the US government should pay us trillions of dollars of their tanks and missiles which sold to Isreal, Alghaddafi, Saddam Hussain, Bashar Al Asad…etc for their crimes on Arab people.

They don’t know how they can get out from their economical crises, they should open the old files they may obtain some fund.

Grant Holt 8 years ago

This is not Llyods Bank if you cared to actually read the article.

Why do people who comment on this forum always jump in two footed, with outlandish comments rather than read the articles and understand them?

A Lloyds insurance syndicates are the ones pursuing the case. I also believe it will fail.

But it won't affect Llyods Bank in Saudi, if they do operate there, and it won't clear a US deficit by any means.

Telcoguy 8 years ago

Nothing prevents you from filing a suit yourself.

salim shaikh 8 years ago

Lloyds is only saying what the official US Gov't statement has confirmed about the 911 attack and Al Qaeda. Indeed there are conspiracy theories but that has not made the US Gov't change their statement. So the Lloyds bank can't be blamed to take the official course on the face value. The Saudis have done nothing to clear their name based on conspiracy theories. Well, This is their chance to do it now that they now being sued for something they think they are not involved in.