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Re: Feds Say Cement Company Will Pay $778M for Propping Up ISIS

By: Cactus Flower in ALEA | Recommend this post (0)
Wed, 19 Oct 22 7:08 AM | 33 view(s)
Boardmark this board | The Trust Matrix 		Msg. 47524 of 54959
(This msg. is a reply to 47521 by clo2)
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This looks like misbehaviour by a subsidiary of a French company, although I don't know French law and so I don't know if it was illegal there.

The reason for US involvement sounds rather thin. Instead, this seems to be a case of the application of US law, extra-territorially. Just like the way the Saudis did, no?

Why was the case not referred to France?

On what grounds has the US received a massive payment? It doesn't appear to have been injured.

The penalty looks to me like theft from whoever the victims are by a NY court.

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The above is a reply to the following message:
Feds Say Cement Company Will Pay $778M for Propping Up ISIS
By: clo2 in ALEA
Tue, 18 Oct 22 11:31 PM 		Msg. 47521 of 54959

Feds Say Cement Company Will Pay $778M for Propping Up ISIS

The French cement company Lafarge pleaded guilty Tuesday in a Brooklyn court to taking advantage of the Islamic State’s iron grip on Syria between August 2013 and October 2014, working with the terrorist organization to thwart its competition and make $70.3 million in revenue. Lafarge and its Syrian subsidiary, driven by potential economic advantages, coordinated with the al-Nusrah Front and ISIS to remain open amid the civil war, paying dues to ISIS’s armed forces and buying materials from terrorist-controlled suppliers while the violent militia hurt Lafarge’s competition. The company eventually entered into a revenue sharing agreement with ISIS, offering chunks of its sales totaling nearly $6 million. Some of the money was routed through New York. In emails described by New York prosecutors, executives at the company likened the monthly payments to “taxes” and at one point discussed how they could “share the cake” with ISIS. The company, whose admission marks the first time a company has plead guilty in the U.S. to working with terrorists, will have to pay out $778 million in criminal fines and forfeiture.

Read it at Reuters

http://www.thedailybeast.com/new-york-prosecutors-say-cement-company-lafarge-will-pay-dollar778m-for-propping-up-isis?via=newsletter&source=CSPMedition

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