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Bank of Credit and Commerce International (view source)
Revision as of 05:22, October 17, 2016
, 05:22, October 17, 2016no edit summary
Jackson Stephens, a billionaire banker in [[Little Rock]], [[Arkansas]], and one of presidential candidate [[Bill Clinton]]'s main supporters, played a key role in setting up the illegal purchase of the American branch of the BCCI of two American banks.
Jackson Stephens, a billionaire banker in [[Little Rock]], [[Arkansas]], and one of presidential candidate [[Bill Clinton]]'s main supporters, played a key role in setting up the illegal purchase of the American branch of the BCCI of two American banks.
An investor group that included Jackson Stephens took over First American Bank in Washington, D.C. This bank was headquartered near the White House, and had many government employees as account holders--the perfect vehicle for gathering political intelligence. To take advantage of this fact, Jackson Stephens proposed that his software firm Systematics handle all the accounting for the bank. But the investor group refused to go along.
So Stephens, with the help of Bert Lance and others, brought in BCCI (Bank of Credit and Commerce International) to wrest control of the bank from that group, and to put it into the hands of friendlier partners. There were lawsuits, and Stephens' software firm Systematics was represented by Joseph Giroir, [[Hillary Rodham Clinton]], and [[Vince Foster]] of the Rose Law Firm.
Both First American National Bank and Georgia National Bank, owned by Bert Lance, were purchased by BCCI front man and Stephens business associate Gaith Pharon. Stephens' family bank, the Worthern National Bank (later renamed Boatman's National Bank of Arkansas),<ref>http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=883249&parDT_END=99991231 </ref> extended a two million dollar loan to the 1992 Clinton presidential campaign.
Both First American National Bank and Georgia National Bank, owned by Bert Lance, were purchased by BCCI front man and Stephens business associate Gaith Pharon. Stephens' family bank, the Worthern National Bank (later renamed Boatman's National Bank of Arkansas),<ref>http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=883249&parDT_END=99991231 </ref> extended a two million dollar loan to the 1992 Clinton presidential campaign.