Marcari Russotto Spencer Balaban, Donald Marcari, MRSB Law Firm
Iraq War Fund, Iraq War, Iraq

Iraq War Fund: Important Information to Know!

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What is The Iraq War Fund? 

The Iraq War Fund, established under the Anti-Terrorism Act, works to provide compensation to service members, Veterans, and their family members, who were injured or disabled due to Iran’s involvement in the Iraq War.  

It also covers victims harmed by foreign banks that illegally financed Iran’s terrorist activities. 

Overview of Iranian Support for Terrorism 

Since the Iranian Revolution in 1979, the Iranian government has played a significant role in promoting terrorism both domestically and internationally. 

The Iranian Revolutionary Guard, a crucial segment of Iran’s armed forces, has been notably active in this area. 

They have provided comprehensive support including training, missiles, fuel, and other logistical support to various terrorist groups. 

This extensive involvement has had severe consequences, particularly for U.S. troops stationed abroad. 

Regions Affected by Iran’s State-Sponsored Terrorism 

Iran’s malign influence extends well beyond its borders, affecting multiple conflict zones across the Middle East and beyond: 

• Iraq: IEDs and EFPs used in Iraq have been traced back to Iran, causing numerous casualties among U.S. troops. 

• Afghanistan: Iranian support has bolstered the Taliban, directly impacting U.S. and coalition forces operating in the region. 

• Syria: By supporting various militant groups, Iran has escalated conflicts and increased the risks faced by U.S. military personnel. 

• Yemen: Iran’s financial and military support to the Houthi rebels has contributed to the destabilization of Yemen. 

These activities are part of a deliberate strategy by Iran to target U.S. military interests, resulting in significant casualties and severe injuries among American service members and women.

Iraq War Fund, Iraq War
U.S. troops in camouflaged combat gear strategically position themselves amid the dusty streets of Sadr City, Iraq.

Understanding The Iraq War Fund 

Introduction to the Iraq War Fund 

The Iraq War Fund, officially established by the 2016 Justice for United States Victims of State-Sponsored Terrorism Act, aims to provide financial compensation to service members, their families, and hostages who suffered due to any state-sponsored terrorism. 

The fund is critical in addressing the needs of those affected by acts of terrorism in regions like Iraq, Afghanistan, and Syria. 

Iraq War Fund: Lawsuit Eligibility and Process 

To pursue a lawsuit under the Iraq War Fund, it is crucial to establish a direct link between the misconduct of financial institutions and the injuries suffered. Many banks have been documented as channels for transferring funds to Iran, which in turn supplied terrorist devices to conflict zones such as Iraq and Afghanistan. 

To file a claim, you must demonstrate that the injury occurred between 2004 and the present and was directly caused by devices sponsored by Iran. Eligible devices include: 

• Improvised Explosive Devices (IEDs).

• Explosively Formed Penetrators (EFPs).

• Rocket-Propelled Grenades (RPGs).

• Improvised Rocket-Assisted Munitions (IRAMs).

These devices, along with their components and operational instructions, were specifically imported into Afghanistan and Iraq with the intent to harm Americans, coalition forces, and local communities aiding the war efforts. In addition to injured Veterans, the children and spouses of Veterans who have died due to these devices are also entitled to pursue claims through the Iraq War Fund. 

Iraq War Fund, Iraq War
BNP Paribas paid an $8.9 billion settlement for transactions that supported state-sponsored terrorism, influencing the Iraq War Fund’s compensation efforts.

Types of Injuries Covered 

The Iraq War Fund addresses a range of injuries, including: 

• Shrapnel Injuries: Severe tissue and organ damage caused by metal fragments. 

Traumatic Brain Injuries (TBI): From mild concussions to severe brain damage necessitating long-term care. 

• Amputations: Due to severe blast injuries, requiring extensive rehabilitation. 

PTSD: Addressing the mental health challenges resulting from exposure to terrorist acts. 

These conditions often require prolonged medical treatment and can significantly impact a Veteran’s quality of life, underscoring the importance of the fund. 

Banks Involved in Iraq War Veterans’ Anti-Terrorism Lawsuit 

Several banks are currently involved as defendants in a legal case brought by Iraq War Veterans, which pertains to an anti-terrorism compensation fund. Some of these institutions have already faced guilty verdicts and hefty penalties for their roles in money laundering activities. It is anticipated that additional banks might also be implicated in future claims related to injuries from IEDs and EFPs among Veterans of the Iraq and Afghanistan wars. 

Banks linked to this ongoing lawsuit for the anti-terrorism fund include: 

• Barclays, PLC. 

• BNP Paribas A.B. 

• Commerzbank. 

• Credit Suisse Group AG. 

• HSBC Holdings, PLC. 

• Royal Bank of Scotland Group, PLC. 

• Standard Chartered. 

• Toronto-Dominion Bank.