New York, NY – Israel Discount Bank’s (IDB) New York branch managed Iranian accounts and transferred funds to citizens of the Islamic Republic, according to the bank’s 2007 quarterly report, published on Monday.
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“The bank notified the Office of Foreign Assets Control (OFAC) of the transactions and hired consultants to examine the matter,” the bank said in a statement.
“An attorney hired to assess the issue said the bank could be fined as much as a million dollars.” [ap]
I guess they are no different from the Neturei Karta, Hu?
The latest significant milestone in the Bank’s history occurred in late January 2006, when the sale of controlling interest in IDB Ltd. by the State of Israel to a private consortium led by international businessman Matthew Bronfman and real estate investor Rubin Schron was concluded; this marked the birth of an exciting new era in the annals of IDB Bank. In addition to their 26% ownership of IDB Ltd.’s outstanding stock, the buyers also received an option, for a period of three years, to purchase an additional 25% of the outstanding stock. This change of control represents an extremely positive and invigorating milestone that we are confident will be the catalyst to an even stronger and more competitive institution.
IDB of NY is a private bank. They are like any other business bank operating in NY. Many Israel-State owned insitutions have been privatized over the last few years, and IDB & ELAL are among the ones sold to the private sector.
Thanks.
I was wondering how long it would take for someone to blame the entire tziyoini medina before any information is out.
What are the odds that person who handled this money is not Israeli and not even Jewish?
What percentage of IDB’s NY employees are Israeli? Of the Americans on payroll I’ll bet the ratio of Jews to Gentiles is roughly the same as it is at any other NY bank.
Grow up.
Israel as a State drives and sponsors German automobiles and now we find out they also partnered in funding terrorism. Wonderful.