Lebanese Canadian Bank cleared of US money laundering, terrorism funding charges

       
The Lebanese Canadian Bank (LCB) has reached a settlement with the United States Government after months of legal disputes; The U.S. Treasury and Justice Departments have brought enforcement actions against a large number of well-known banks around the world, including LCB, in connection with alleged failures to comply with various executive orders and regulations issued by the U.S. Government.    
        
LCB, by contrast to many other enforcement actions, has resolved the civil forfeiture based on consistent denial of allegations of wrongdoing or management complicity or involvement in terrorist or money laundering activities; By reaching a settlement with the United States, LCB places itself outside the realm of alleged schemes of violations to US laws and marked its disassociation with terrorist and money laundering activities.

        
In the Stipulation of Order and Settlement, the Unites States confirmed that it did not assert any claims against any of the LCB Shareholders, Board Members, Chairman General Manager or General Manager and their deputies.             

LCB, by its Chairman and General Manager, declared that it is satisfied with the way the settlement was reached with the United States.