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Iran Terror Victims Can Chase Nearly $10 Million in Blocked Cash

Aug. 16, 2022, 8:20 PM

Two groups of Iranian terrorism victims may pursue almost $10 million in funds blocked during the attempted purchase of an oil tanker because the money is traceable to a terrorist party, the D.C. Circuit said Tuesday.

The US government sought to prevent the victim groups—who already secured around $1 billion in combined judgments against Iran and are trying to collect—from attaching the funds, which are the subject of a federal forfeiture suit. But the government admits that the funds, held at Wells Fargo Bank NA, are traceable to Iran, the US Court of Appeals for the D.C. Circuit said. ...