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DC Circ. Won't Release Bank Funds For Iran Terror Victims

By Stephanie Russell-Kraft (November 19, 2013, 5:13 PM EST) -- The D.C. Circuit found Tuesday that the families of U.S. Air Force personnel killed in a 1996 terrorist bombing are not entitled to the release of sanction-blocked assets linked to Iran to satisfy $591 million in judgments, upholding a ruling that Iran doesn't own the bank accounts in question.

U.S. Circuit Judge A. Raymond Randolph said that while the funds had landed in Wells Fargo Bank NA and Bank of America NA accounts through several wire transfers blocked by the federal government because the beneficiaries' banks were Iranian, the plaintiffs had failed to show that the money actually belongs to the...

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