The Big Bet to Hold Banks Liable for Terrorism

How a New Jersey lawyer is fighting to make banks liable for violent deaths at the hands of extremists

An HSBC bank in London.

Photographer: Simon Dawson/Bloomberg
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Steven Vincent had just left a money exchange in the southern Iraqi city of Basra when a group of men in police uniforms drove up in a white truck and grabbed him and his translator. It was Aug. 2, 2005. Vincent, a freelance American journalist, had reported on the war for two-and-a-half years. British troops occupied Basra, but he operated without an embed arrangement. British and Iraqi authorities later found Vincent on the outskirts of the city shot dead. The Iraqi translator survived.

Three days earlier the New York Times had published an op-ed article by Vincent, “Switched Off in Basra,” in which he described the infiltration of the local police by Iranian-backed Islamic extremists. “Steven was executed for what he wrote,” says his widow, Lisa Ramaci. She’s set up a foundation in his name that donates money to the families of Iraqis injured or killed because of their work with U.S. journalists. And Ramaci did something else. In November she joined a lawsuit on behalf of relatives of U.S. soldiers and civilians who’ve died in Iraq as a result of violence linked to Iranian-backed militias and terrorist groups.