NEW YORK--(BUSINESS WIRE)--On Thursday, United Against Nuclear Iran (UANI) CEO, Ambassador Mark D. Wallace, applauded the decisions by Nord Est Asset Management (Luxembourg), Aktia (Finland), and Ameriprise Financial (Minnesota, USA) to divest from Lebanese sovereign debt.
All three firms were Lebanese bondholders according to March 30, 2012 reporting, and all three have recently responded to UANI that they no longer hold those investments.
UANI also applauded the Danish firm Jyske Invest, which stated to UANI that it will take UANI’s concerns to its board next month for review.
Said UANI CEO, Ambassador Mark D. Wallace:
We applaud Nord Est, Aktia, and Ameriprise Financial for divesting from Lebanese sovereign debt. Lebanese bonds are fraudulent, and any firm invested in them is risking reputational and fiduciary harm. We also applaud Jyske Invest for agreeing to discuss the issue of Lebanese securities with its board next month.
No legitimate firm should trade in Lebanese sovereign backed securities, given Hizballah and Iran’s illicit control of the Lebanese banking system. Investors are fleeing Lebanese debt securities because of the clear and unambiguous influence Hizballah and Iran have in perpetuating a sovereign-backed money laundering scheme that artificially supports Lebanon's economy.
This month, UANI announced the results of a three month-long investigation into the influence of Iran and Hizballah in the Lebanese banking system (LBS) and Lebanon’s sovereign bond market, and announced a campaign to compel legitimate financial institutions into divesting from Lebanon’s bond market.
to view UANI’s letter to Nord Est Asset Management.
Click here to view UANI’s letter to Aktia.
Click here to view UANI’s letter to Ameriprise Financial.
Click here to view UANI’s letter to Jyske Invest.
Click here to read the July 3 Wall Street Journal article, “Banks Get Pressed on Beirut.”
Click here to view UANI's research, "HIZBALLAH, LEBANON & IRAN: PARTNERS IN A SOVEREIGN MONEY LAUNDERING SCHEME."
Click here to call on the U.S. Government to Sanction the Lebanese Banking System and for Bond Holders and Credit Agencies to end Lebanon Business.