Changes

Stephens was named in the court records as having brought Pharon together with Stephens' close friend Bert Lance. Lance was a former [[OMB]] nominee under President Jimmy Carter who was denied confirmation due to a banking scandal.

Stephens was named in the court records as having brought Pharon together with Stephens' close friend Bert Lance. Lance was a former [[OMB]] nominee under President Jimmy Carter who was denied confirmation due to a banking scandal.

According to newspaper reports, BCCI founder Agha Hasan Abedi was introduced to Lance by Stephens. Stephens, Lance, and First American Bank director and longtime Democratic party power broker Clark Clifford all maintained that they did not know the group of Pakinstani and Saudi investors headed by Pharon, which they were dealing with, were actually fronting for BCCI.  

BCCI founder Agha Hasan Abedi was introduced to Lance by Stephens. Stephens, Lance, and First American Bank director and longtime Democratic party power broker Clark Clifford all maintained that they did not know the group of Pakinstani and Saudi investors headed by Pharon, which they were dealing with, were actually fronting for BCCI.<ref>http://fas.org/irp/congress/1992_rpt/bcci/06early.htm </ref>

Clifford's predicament worsened when it was disclosed he had made about $6 million in [[profits]] from bank stock that he bought with an [[unsecured]] [[loan]] from BCCI. A New York [[grand jury]] handed up indictments, as did the [[Justice Department]]. Clifford's assets in New York, where he kept most of his investments, were frozen.  

Clifford's predicament worsened when it was disclosed he had made about $6 million in [[profits]] from bank stock that he bought with an [[unsecured]] [[loan]] from BCCI. A New York [[grand jury]] handed up indictments, as did the [[Justice Department]]. Clifford's assets in New York, where he kept most of his investments, were frozen.