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Wtc bond broker sues saudi arabia for 911 attacks

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Cantor Sues Saudi Arabia, Al-Qaeda Over Sept. 11 (Update1)

Sept. 3 (Bloomberg) -- Cantor Fitzgerald LP, the bond broker that lost about 60 percent of its New York employees in the 2001 World Trade Center terrorist attacks, filed a $7 billion lawsuit against Saudi Arabia, al-Qaeda and more than 50 Middle Eastern banks and foundations.

The suit, filed yesterday in New York federal court, alleges racketeering and conspiracy by Saudi Arabia, foreign charities, banks and relief organizations in lending ``financial and other material support and substantial assistance'' to al-Qaeda, which is blamed for the attacks.

Lawyers for Cantor said in a separate filing they asked for the case to be placed before U.S. District Judge Richard Casey in New York, who is overseeing cases with many of the same defendants and allegations.

The suit is one of many targeting organizations that have allegedly aided terrorists. In July, the widow of a U.S. security guard killed by a roadside bomb in the Gaza Strip filed an $875 million lawsuit against Arab Bank Plc, accusing it of laundering money to aid Palestinian suicide bombers. The bank denies the allegations.

A security guard contacted at the Saudi embassy in Washington after business hours said no one was available to comment on the Cantor suit. Jonathan Goodman, a lawyer for Cantor, didn't return a call seeking comment.

The case is Cantor Fitzgerald v. Akida Bank Private Limited, 04-cv-7065, U.S. District Court for the Southern District of New York.

Last Updated: September 3, 2004 20:11 EDT

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