A Qatar-owned media outlet may have relied on forged documents to defame a major financial institution in a recent article, according to a legal demand letter from late December 2024.
The Development Corporation for Israel (DCI), commonly known as Israel Bonds, has issued a demand letter to Al Jazeera Media Network, calling for a retraction and correction of what it claims are defamatory statements in a December 2024 article. In a formal letter addressed to Al Jazeera’s General Counsel David Harleston, legal representatives for Israel Bonds detailed the inaccuracies and omissions in the article, calling it “politically motivated” and “financially illiterate.”
“The article is a transparent attempt to advance your publication’s antisemitic agenda by undermining U.S. financial support for Israel’s security,” said the letter signed by Ashwin J. Ram, counsel for Israel Bonds.
Israel Bonds alleges in the demand letter that Al Jazeera misrepresented facts about Israel Bonds’ products and their financial health to further an anti-Israel narrative. It also alleges that Al Jazeera’s report relied on fraudulent and unverified sources, including a forged email originating from a domain designed to impersonate the organization. The email, supposedly from an individual affiliated with Israel Bonds, was linked to a known scam targeting investors. Public Domain Registry suspended the fraudulent domain after it was flagged by Israel Bonds.
“Your publication’s purported and unprofessional reliance on such a document demonstrates, at best, a reckless and malicious disregard for the truth,” Ram asserted in the letter.
Among the grievances highlighted, Israel Bonds alleges that the article misrepresented investment policies for the State of Florida, a holder of Israel Bonds. The Al Jazeera article claimed that Florida’s Treasury guidelines require foreign obligations to hold a minimum AA- rating from at least one credit ratings agency. However, Israel Bonds clarified that the guidelines allow investments rated by at least two agencies, including ratings from Moody’s, S&P, and Fitch, which all rate Israel Bonds above the required threshold.
The letter also pointed out the article’s assertion that Israel Bonds had “decreased in value,” which Israel Bonds dismissed as factually incorrect. “There is no secondary market for Israel Bonds,” said Ram in the letter, “so purchasers must hold the bonds to maturity, at which point they will have received the full amount invested plus the promised interest.”
The letter also referenced the broader context of Al Jazeera’s reporting on Israel, accusing the outlet of a pattern of anti-Israel bias. It cited instances of past misconduct, including an allegation from the Israel Defense Forces linking an Al Jazeera journalist to militant activities in Gaza.
Israel Bonds, a trusted financial instrument supporting Israel’s economy for over 75 years, remains a secure investment vehicle, according to the company. Israel has consistently met its financial obligations and continues to be rated favorably by leading credit agencies.
