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The '''Bank of Credit and Commerce International''' was at one time the 7th largest bank in the world. It came under investigation in numerous countries worldwide in the mid 1980s for money laundering for narcotics and weapons sellers. ''[[Time magazine]]'' wrote, "Superlatives are quickly exhausted: it is the largest corporate criminal enterprise ever" and ran a cover story labeling it the World's Sleaziest Bank.<ref>http://content.time.com/time/covers/0,16641,19910729,00.html </ref>

The '''Bank of Credit and Commerce International''' was at one time the 7th largest bank in the world. It came under investigation in numerous countries worldwide in the mid 1980s for money laundering for narcotics and weapons sellers. ''[[Time magazine]]'' wrote, "Superlatives are quickly exhausted: it is the largest corporate criminal enterprise ever" and ran a cover story labeling it the World's Sleaziest Bank.<ref>http://content.time.com/time/covers/0,16641,19910729,00.html</ref>

==American branch==

==American branch==

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.

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 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.

So Stephens, with the help of Bert Lance and others, brought in BCCI 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.

This union came about just as the [[Mena airport|Mena, Arkansas]], drug-and-arms trade was creating a vast local demand for money-laundering services. At the Asian end, with Mochtar Riady, Stephens purchased Seng Heng Bank in Macao, the "Oriental Las Vegas", where gambling is the primary source of government revenue. Stephens' Systematics supplied software to the Banco Nacional Ultramarino, the cashier and treasury bank of the Macao government and the bank that issues the local [[currency]]. Macao is located less than 40 miles from [[Hong Kong]], the center for [[heroin]] trade.

This union came about just as the [[Mena airport|Mena, Arkansas]], drug-and-arms trade was creating a vast local demand for money-laundering services. At the Asian end, with Mochtar Riady, Stephens purchased Seng Heng Bank in Macao, the "Oriental Las Vegas", where gambling is the primary source of government revenue. Stephens' Systematics supplied software to the Banco Nacional Ultramarino, the cashier and treasury bank of the Macao government and the bank that issues the local [[currency]]. Macao is located less than 40 miles from [[Hong Kong]], the center for [[heroin]] trade.

Stephens' principal motive in bringing BCCI to America was apparently to connect up his own financial institutions to a global system of money laundering--not only First American Bank, but those in Little Rock also. To avoid the type of [[SEC]] scrutiny involved in the Financial General takeover, [[Webster Hubbell]] was employed to draw up the charter for the [[Arkansas Development Finance Authority]] (ADFA). The structure for the laundry was then in place.

Stephens' principal motive in bringing BCCI to America was apparently to connect up his own financial institutions to a global system of money laundering—not only First American Bank, but those in Little Rock also. To avoid the type of [[SEC]] scrutiny involved in the Financial General takeover, [[Webster Hubbell]] was employed to draw up the charter for the [[Arkansas Development Finance Authority]] (ADFA). The structure for the laundry was then in place.

===Systematics and Hillary Clinton===

===Systematics and Hillary Clinton===

Systematics also came to be represented by Beryl Anthony, a partner at the Washington law office of Winston and Strawn, former chairman of the [[Democratic Congressional Campaign Committee]], and husband of Vince Foster's sister Sheila Foster Anthony. It was Sheila Anthony who, while Assistant Attorney General for Legislative Affairs at the [[Justice Department]], effected a $286,000 transfer to Vince Foster from a [[Democratic National Committee]] account held at Mellon Bank, just four days before Vince Foster met his death. Upon Foster's death, Hillary Clinton directed the removal of files from Foster's office.

Systematics also came to be represented by Beryl Anthony, a partner at the Washington law office of Winston and Strawn, former chairman of the [[Democratic Congressional Campaign Committee]], and husband of Vince Foster's sister Sheila Foster Anthony. It was Sheila Anthony who, while Assistant Attorney General for Legislative Affairs at the [[Justice Department]], effected a $286,000 transfer to Vince Foster from a [[Democratic National Committee]] account held at Mellon Bank, just four days before Vince Foster met his death. Upon Foster's death, Hillary Clinton directed the removal of files from Foster's office.

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.

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.

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>

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>

===PROMIS software===

===PROMIS software===

==See also==

==See also==

==References==

==References==

[[Category:1970s]]

[[Category:1970s]]