Liverpool’s main sponsor, Standard Chartered, is facing allegations in the United States of conducting billions of dollars in transactions for funders of terrorist groups.
The allegations are part of a court filing in New York by Julian Knight, a former executive at Standard Chartered. Knight claims that the bank executed over $100 billion in transactions between 2008 and 2013, violating sanctions against Iran.
This amount significantly exceeds what Standard Chartered admitted to in a 2012 money laundering settlement and a separate case in 2019, which together led to over $1.7 billion in fines to US and UK authorities.
In the latest court filing, an independent expert claims to have identified another half-a-million hidden transactions amounting to $9.6 billion with individuals and entities designated by the US government as funding terrorist groups.
Despite previously admitting to breaching sanctions, Standard Chartered has never acknowledged conducting transactions for terrorist organizations.
What did the Standard Chartered say about the accusations?
Standard Chartered in an official statement to the BBC denied any involvement in such activities. The statement which was to the ECHO read, “This filing is another attempt to use claims against the bank, following previous unsuccessful attempts. The false allegations underpinning it have been thoroughly discredited by the US authorities who undertook a comprehensive investigation into the claims and said they were ‘meritless’ and did not show any violations of US sanctions. We are confident the courts will reject these claims, as they have already done repeatedly.”
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