UANI Applauds Erste-Sparinvest for Divesting from Lebanon's Iranian-Influenced Bond Market

   

FOR IMMEDIATE RELEASE July 11, 2012 Contact: Nathan Carleton, press@uani.com Phone: (212) 554-3296 UANI Applauds Erste-Sparinvest for Divesting from Lebanon's Iranian-Influenced Bond Market New York, NY - On Wednesday, United Against Nuclear Iran (UANI) applauded the Austrian investment firm, Erste-Sparinvest KAG (Erste-Sparinvest), for divesting from Lebanese debt securities in response to UANI's campaign regarding the influence Iran holds over the Lebanese banking system. UANI wrote to Erste-Sparinvest on May 28, 2012, presenting UANI's research on the Lebanese banking system, and calling for Erste-Sparinvest to "divest from all Lebanese sovereign backed debt securities." In response, Erste-Sparinvest contacted UANI, stating that "We came to the conclusion to divest our holdings in Lebanese bonds and therefore we will follow your recommendation." UANI accepts Erste-Sparinvest's statement, and will list the firm as having divested from Lebanese debt securities. Said UANI CEO, Ambassador Mark D. Wallace: We applaud Erste-Sparinvest for quickly divesting from Lebanese bonds. All firms should divest from Lebanese sovereign backed securities given the nefarious role Hizballah and Iran play in such securities. The Lebanese banking system is simply not credible. UANI's data and findings clearly show that it is controlled by Hizballah, and illicitly used by Iran. The Lebanese Central Bank and the Lebanese banking system receive massive Hizballah/Iran financing, and use such money as a deposit base that is the foundational and fraudulent support for the greater Lebanese economy, Lebanese sovereign-backed securities, and the credit default swaps (CDS) that insure those securities. Without the illicit Hizballah and Iranian monies flowing into Lebanon, Lebanese banks would be unable to purchase Lebanese sovereign debt. Without such purchases, Lebanese sovereign debt (and premiums on the CDS) would reflect the true realities of the dire politics of Lebanon and the enormous Lebanese debt-to-GDP ratio, which is the 4th highest in the world.  Outside firms that trade such debt legitimize these fraudulent securities. No legitimate firm should trade in Lebanese sovereign backed securities. Last week, 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. UANI research and analysis, made public for the first time, revealed the existence of a state-sponsored Lebanese money laundering scheme involving Lebanon's Central Bank--Banque du Liban (BDL)--and the LBS under the direction and influence of Iran and Hizballah.  Lebanon has employed a state-sponsored money laundering scheme to "wash" Iranian and Hizballah illicit monies, in order to artificially and fraudulently support Lebanese debt securities.  Click here to read UANI's May 28 letter to Erste-Sparinvest. 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. ###                                                                          United Against Nuclear Iran (UANI) is a program of the American Coalition Against Nuclear Iran, Inc., a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code. The prospect of a nuclear-armed Iran should concern every American and be unacceptable to the community of nations. Since 1979 the Iranian regime, most recently under President Mahmoud Ahmadinejad's leadership, has demonstrated increasingly threatening behavior and rhetoric toward the US and the West. Iran continues to defy the International Atomic Energy Agency (IAEA) and the United Nations in their attempts to monitor its nuclear activities. A number of Arab states have warned that Iran's development of nuclear weapons poses a threat to Middle East stability and could provoke a regional nuclear arms race. In short, the prospect of a nuclear armed Iran is a danger to world peace. United Against Nuclear Iran (UANI) is a non-partisan, broad-based coalition that is united in a commitment to prevent Iran from fulfilling its ambition to become a regional super-power possessing nuclear weapons.  UANI is an issue-based coalition in which each coalition member will have its own interests as well as the collective goal of advancing an Iran free of nuclear weapons. The Objectives of United Against a Nuclear Iran Inform the public about the nature of the Iranian regime, including its desire and intent to possess nuclear weapons, as well as Iran's role as a state sponsor of global terrorism, and a major violator of human rights at home and abroad; Heighten awareness nationally and internationally about the danger that a nuclear armed Iran poses to the region and the world; Mobilize public support, utilize media outreach, and persuade our elected leaders to voice a robust and united American opposition to a nuclear Iran; Lay the groundwork for effective US policies in coordination with European and other allies; Persuade the regime in Tehran to desist from its quest for nuclear weapons, while striving not to punish the Iranian people, and; Promote efforts that focus on vigorous national and international, social, economic, political and diplomatic measures. UANI is led by an advisory board of outstanding national figures representing all sectors of our country.

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