Special Master Mary Patrice Brown has announced that all eligible claims in the U.S. Victims of State Sponsored Terrorism Fund will receive fifth-round payments by January 1, 2025.
The Fund, which continues to accumulate deposits, expects this distribution to total at least $940 million, sourced from various qualifying federal enforcement actions, including the case of United States v. Binance Holdings Limited.
Principal Deputy Assistant Attorney General Nicole M. Argentieri, who heads the Justice Department’s Criminal Division, expressed pride in administering the Fund, noting that it has disbursed over $6 billion to victims of state-sponsored terrorism since its inception.
With the upcoming fifth distribution, this total will nearly reach $7 billion by 2025.
Argentieri underscored the division’s commitment to prosecuting financial institutions and individuals involved in anti-money laundering and sanctions violations, stressing on their support for victims through the Fund’s administration.
Established by Congress and overseen by the Criminal Division’s Money Laundering and Asset Recovery Section (MLARS) under the guidance of the Special Master, the Fund has previously disbursed funds through four rounds of distributions and a lump-sum catch-up payment round.
The anticipated fifth distribution builds upon these efforts, funded not only by an initial congressional appropriation but also by proceeds from Justice Department prosecutions and other U.S. government enforcement actions.
In November 2023, Binance Holdings Limited pleaded guilty to violations including the Bank Secrecy Act, failure to register as a money transmitting business, and breaches of the International Emergency Economic Powers Act (IEEPA).
As a result, Binance forfeited $898 million, deemed eligible for deposit into the Fund by MLARS.
The Fund continues to accept applications from new claimants, with the deadline for consideration in the fifth round set for July 1. Previous eligible claimants need not reapply.
More details about the Fund’s compensation efforts, including application procedures, FAQs, and resources, can be found on its website at www.usvsst.com.
