Terror victims barred from al-Qaida member's funds

March 27, 2012 - 11:15 PM

CHICAGO (AP) — A federal judge has barred victims of the September 2001 terror attacks from claiming money an alleged al-Qaida member invested with a Chicago futures brokerage firm.

U.S. District Court Judge Matthew Kennelly on Tuesday granted a government motion to reject the victims' claims to nearly $7 million.

The U.S. Department of Justice claims Abu al Tayyeb, through an associate, deposited nearly $27 million into an account with R.J. O'Brien & Associates in 2005. But poor investment decisions caused the money to dwindle.

Federal officials froze the assets and are attempting to get the money.

Terror victims claim Tayyeb raised money for al-Qaida and plotted U.S. attacks. Victims' attorney Sean Carte says they might amend their legal argument, adding there are a number of ways to get the money.