FOR IMMEDIATE RELEASE
July 16, 2012
Contact: Nathan Carleton, [email protected]
Phone: (212) 554-3296
UANI Applauds Eaton Vance's Divestment from Lebanese Sovereign Debt
New York, NY - On Monday, United Against Nuclear Iran (UANI) CEO, Ambassador Mark D. Wallace, applauded Boston-based Eaton Vance Investment Managers' recent divestment from Lebanese sovereign debt.
Said Ambassador Wallace:
Last week, Eaton Vance further contacted UANI regarding its divestment from Lebanese sovereign debt. Eaton Vance again confirmed to UANI that it has divested its holdings of Lebanese sovereign debt securities. Eaton Vance also stated that it took this action independent from receiving UANI's original letter detailing the influence of Iran and Hizballah in the Lebanese banking system and Lebanon's sovereign bond market.
UANI initially contacted Eaton Vance on June 8 out of concern related to its Lebanese sovereign backed and related securities portfolio, and called on Eaton Vance to "divest from all Lebanese sovereign backed debt securities." According to recent Bloomberg data accessed by UANI, Eaton Vance held significant amounts of such securities as of March 30, 2012 reporting.
We applaud Eaton Vance for divesting from Lebanese sovereign debt. All firms should follow Eaton Vance, Erste-Sparinvest, and others, by immediately divesting from Lebanon's fraudulent sovereign-backed securities. No legitimate firm should trade in Lebanese sovereign backed securities, given Hizballah and Iran's illicit control of the Lebanese banking system.
This month, 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 also announced that the Austrian investment firm, Erste-Sparinvest, divested from Lebanese bonds in response to UANI's campaign.
UANI research and analysis, made public for the first time, has revealed the existence of a state-sponsored Lebanese money laundering scheme involving Lebanon's Central Bank-Banque du Liban-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 June 8 letter to Eaton Vance.
Click here to read the July 3 Wall Street Journal article, "Banks Get Pressed on Beirut."
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.