US officials told the family of former FBI agent Bob Levinson in 2020 that he had probably died after being abducted on Iran's Kish Island. AFP
US officials told the family of former FBI agent Bob Levinson in 2020 that he had probably died after being abducted on Iran's Kish Island. AFP
US officials told the family of former FBI agent Bob Levinson in 2020 that he had probably died after being abducted on Iran's Kish Island. AFP
US officials told the family of former FBI agent Bob Levinson in 2020 that he had probably died after being abducted on Iran's Kish Island. AFP

Bob Levinson's family want frozen Iran funds for hostage compensation


Paul Peachey
  • English
  • Arabic

The family of Bob Levinson, the former FBI agent presumed dead after he went missing 15 years ago in Iran, have called for Tehran’s frozen funds to be used to pay victims of its hostage-taking policy.

Mr Levinson is believed to have been abducted by Iranian agents in March 2007 while on Iran’s Kish Island investigating a corruption scam during an unauthorised CIA mission.

US officials confirmed to the family in 2020, when he would have been 71, that he had died but the circumstances of his captivity are unknown and his remains are yet to be returned. Iran has said it has no knowledge of his whereabouts and is not responsible for his death.

The family said US officials had reassured them that questions about Mr Levinson would have to be answered before the aborted 2015 deal on Iran’s nuclear programme and sanctions was allowed to resume.

The family said they had spoken with Secretary of State Antony Blinken about pushing for his remains to be returned but want to see the US go further and use some of the estimated frozen $11 billion under American control to be distributed to families and victims of state hostage-taking.

“We believe before Iran can have access to it, a portion of those assets should go to the victims of Iran’s hostage-taking,” said David Levinson, one of Mr Levinson’s seven children.

“It could go to compensatory and punitive damages that have already been awarded in the US courts.”

Mr Levinson, a private investigator, travelled to Kish Island in 2007 to question a contact over claims that Iranian officials were taking a cut from oil sales and hiding the money in overseas investments.

He left his hotel after the meeting but has not been seen since March 9 that year. He was last known to have been alive in 2011 when a video released to his family showed him urging the US government to help him return home.

Later pictures showed him in an orange jumpsuit in what was regarded as a deliberate echo of conditions at Guantanamo Bay, the US detention centre.

The photos and videos suggested that he was being held by an unidentified terrorist group but a US judge ruled Iran was responsible and ordered it to pay $1.46 billion to his family.

The damages were to be paid from a special fund established by the US government for victims of state-sponsored terrorism. The fund is financed by fines from companies penalised for breaking sanctions rules but amounts to only a tiny fraction of the sums awarded in the courts.

US congressman Ted Deutch this month called for Iranian frozen funds to be used to pay families and to top up the fund in a joint article in Miami Herald with another of Mr Levinson’s children, Sarah Moriarty.

“We know Iranian officials are desperately seeking access to frozen funds abroad. But they shouldn’t receive one dime so long as they continue their despicable practice of political hostage-taking,” they wrote.

They quoted a decision by President Joe Biden in February to use $7 billion in frozen Afghan assets for humanitarian aid and for the victims of 9/11 attacks on the US.

Aid agencies, Afghan’s central bank and its government criticised the move, saying the money was not for the US to take.

But the family said that Iran had to suffer a big enough financial penalty to ensure that no more families suffered as they had done.

“There are times when I look up at night thinking of the horrors that my father must have experienced,” David Levinson, 34, told The National. “I just think about how desperately he wanted to come home and see his family.

Two senior Iranian military officers were sanctioned by the US in December 2020 over Bob Levinson’s abduction and probable death. US officials say senior officials within the regime were aware of the operation to snatch him.

“People who have knowledge of what has happened to my father are desperately seeking access to frozen funds right now,” said David Levinson.

Those held now include Siamak Namazi, 50, who was detained in 2015, and remains the longest-serving prisoner in Iran. His father, Baquer, also spent time in jail on trumped-up security charges, before being released. But he is still barred from leaving Iran.

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Score

Third Test, Day 2

New Zealand 274
Pakistan 139-3 (61 ov)

Pakistan trail by 135 runs with 7 wickets remaining in the innings

Ready Player One
Dir: Steven Spielberg
Starring: Tye Sheridan, Olivia Cooke, Ben Mendelsohn, Mark Rylance

MATCH INFO

Uefa Champions League, semi-final result:

Liverpool 4-0 Barcelona

Liverpool win 4-3 on aggregate

Champions Legaue final: June 1, Madrid

The Greatest Royal Rumble card as it stands

50-man Royal Rumble - names entered so far include Braun Strowman, Daniel Bryan, Kurt Angle, Big Show, Kane, Chris Jericho, The New Day and Elias

Universal Championship Brock Lesnar (champion) v Roman Reigns in a steel cage match

WWE World Heavyweight Championship AJ Styles (champion) v Shinsuke Nakamura

Intercontinental Championship Seth Rollins (champion) v The Miz v Finn Balor v Samoa Joe

United States Championship Jeff Hardy (champion) v Jinder Mahal

SmackDown Tag Team Championship The Bludgeon Brothers (champions) v The Usos

Raw Tag Team Championship (currently vacant) Cesaro and Sheamus v Matt Hardy and Bray Wyatt

Casket match The Undertaker v Chris Jericho

Singles match John Cena v Triple H

Cruiserweight Championship Cedric Alexander v tba

 

ALRAWABI%20SCHOOL%20FOR%20GIRLS
%3Cp%3ECreator%3A%20Tima%20Shomali%3C%2Fp%3E%0A%3Cp%3EStarring%3A%C2%A0Tara%20Abboud%2C%C2%A0Kira%20Yaghnam%2C%20Tara%20Atalla%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
COMPANY%20PROFILE
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THE APPRENTICE

Director: Ali Abbasi

Starring: Sebastian Stan, Maria Bakalova, Jeremy Strong

Rating: 3/5

Volunteers offer workers a lifeline

Community volunteers have swung into action delivering food packages and toiletries to the men.

When provisions are distributed, the men line up in long queues for packets of rice, flour, sugar, salt, pulses, milk, biscuits, shaving kits, soap and telecom cards.

Volunteers from St Mary’s Catholic Church said some workers came to the church to pray for their families and ask for assistance.

Boxes packed with essential food items were distributed to workers in the Dubai Investments Park and Ras Al Khaimah camps last week. Workers at the Sonapur camp asked for Dh1,600 towards their gas bill.

“Especially in this year of tolerance we consider ourselves privileged to be able to lend a helping hand to our needy brothers in the Actco camp," Father Lennie Connully, parish priest of St Mary’s.

Workers spoke of their helplessness, seeing children’s marriages cancelled because of lack of money going home. Others told of their misery of being unable to return home when a parent died.

“More than daily food, they are worried about not sending money home for their family,” said Kusum Dutta, a volunteer who works with the Indian consulate.

Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%3A%3C%2Fstrong%3E%20Astra%20Tech%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EMarch%202022%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EAbdallah%20Abu%20Sheikh%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20technology%20investment%20and%20development%3Cbr%3E%3Cstrong%3EFunding%20size%3A%3C%2Fstrong%3E%20%24500m%3C%2Fp%3E%0A

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

THE DEALS

Hamilton $60m x 2 = $120m

Vettel $45m x 2 = $90m

Ricciardo $35m x 2 = $70m

Verstappen $55m x 3 = $165m

Leclerc $20m x 2 = $40m

TOTAL $485m

LEADERBOARD
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Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

THE DETAILS

Solo: A Star Wars Story

Director: Ron Howard

2/5

Tips for job-seekers
  • Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
  • Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.

David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East

BUNDESLIGA FIXTURES

Saturday, May 16 (kick-offs UAE time)

Borussia Dortmund v Schalke (4.30pm) 
RB Leipzig v Freiburg (4.30pm) 
Hoffenheim v Hertha Berlin (4.30pm) 
Fortuna Dusseldorf v Paderborn  (4.30pm) 
Augsburg v Wolfsburg (4.30pm) 
Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)

Sunday, May 17

Cologne v Mainz (4.30pm),
Union Berlin v Bayern Munich (7pm)

Monday, May 18

Werder Bremen v Bayer Leverkusen (9.30pm)

War 2

Director: Ayan Mukerji

Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana

Rating: 2/5

Updated: June 20, 2023, 12:00 PM