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NEWS: NY Bowling Alley Returns $1.3 Mln Arafat Investment

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posted on Dec, 24 2004 @ 11:52 AM
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A trendy Manhattan bowling alley has returned a 1.3 million dollar investment that came from the late Yasser Arafat. The bowling alley that Rudy Giuliani and Harvey Weinstein are noted to frequent, stated in a press release that they did not take investments from political organizations. They also indicated that they found politics of Arafat to be abhorrent to them. The investment came via a holding company that was used by Arafat, and the president of the company stated he only found out about the Arafat ties following a media report. Short term financing has been establish to cover the payback.
 



story.news.yahoo.com
NEW YORK (Reuters) - A fashionable Manhattan bowling alley that boasts celebrity customers such as Rudy Giuliani and Harvey Weinstein said on Thursday it was returning $1.3 million reported to have come from Yasser Arafat.

"We don't choose to be affiliated with any political-based organization, especially one that may or may not have ties to things that we find absolutely abhorrent," said Thomas Shannon, chief executive of Strike Holdings which owns Bowlmor Lanes.

At a hastily called news conference in Greenwich Village, Shannon said he only became aware of the investment by a holding company used by the late Palestinian leader after a Bloomberg news report on Wednesday. The investments, channeled through a fund run by a former classmate of Shannon, were made between 2001 and 2002.


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How could he not investigate the sources of his financing. More likely he did not care till he received some negative publicity about the matter. For that matter, we do not know if Arafat’s money was even used directly, merely it came from a company that Arafat used. If Arafat had a stake in say General Motors or Intel, would people rush to drop those stocks? Doubtful. I would like to remind everyone that the corrupt Saudi Monarchy has billion invested in the U.S. from strip malls to retailers. What of them?




 
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