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Bank of Credit and Commerce International (view source)
Revision as of 20:24, October 29, 2016
, 20:24, October 29, 2016→Stephens Inc and the Riadys'
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.
===Bert Lance and Clark Clifford===
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.
BCCI founder Agha Hasan Abedi was introduced to Bert Lance by Stephens. Lance asked Clifford to perform [[due diligence]] on BCCI.<ref>BCCI IN THE UNITED STATES, 1992."According to [Bert] Lance, he then turned to Clark Clifford, who had represented him in Congressional hearings into Lance's activities in [[Georgia]], and asked Clifford to do due diligence on BCCI. When Clifford called Lance back to tell Lance that Abedi was "a man of integrity and character," Lance agreed to meet with Abedi and Naqvi in [[London]], and there became BCCI's agent for its forays into the U.S.(15) Thus, by Lance's account, Clifford first had contact with BCCI on behalf of Lance in October, 1977."</ref> 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>
===Systematics, Hillary Clinton and Vince Foster===
===Systematics, Hillary Clinton and Vince Foster===