Youssef Nada {of Al Taqwa Fame} On the Offensive Again: Seeking Damages From Swiss Government
By Victor Comras
Attorneys for Muslim Brotherhood Banker Youssef Nada, founder and president of the Al Taqwa Bank, have announced their intention to file a new claim against the Swiss government, on Nada’s behalf, for economic losses, defamation and mental distress allegedly caused by the Swiss Government’s three year investigation of Nada’s alleged involvement in financing terrorism. The charges were dropped last May (2005) when the Swiss Prosecutor’s office concluded it had insufficient usable evidence to bring the matter to trial. At the time concerns were expressed over the lack of cooperation and information sharing between relevant intelligence and investigative agencies in the United States and Switzerland, and the difficulty the Swiss Prosecutor's office had in obtaining and turning intelligence into usable evidence.
Nada, and Al Taqwa were designated by the UN Al Qaeda and Taliban Sanctions Committee and by the US Treasury in November 2001 for providing financial support to Al Qaeda. Press reports have speculated that Nada is seeking up to 200 million Swiss Francs as damages, but his attorneys have suggested that these stories are "speculative" and that no claim amount has yet been established. Despite UN and US designation, Nada continues to direct a substantial worldwide business network and has reportedly re-established himself as liquidator of at least some of his holdings maintained through Shell companies in Liechtenstein.
Below are some links to previous blogs which explain in greater detail Nada's activities, the charges against him, and his success, so far, in sidestepping the consequences.
Designated Terrorist financier Youssef Nada Wins Another Court Round
Youssef Nada Wins Again! But What About the UN Sanctions?
Swiss Drop their Case Against Al Taqwa and Youssef Nada
Its Time For Switzerland "to Fish or Cut Bait" in the Nada/Al Taqwa Case
The Case Against Youssef Nada and Al Taqwa: Will Switzerland Now Prosecute?
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