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Line 46: − ===Clark Clifford=== − − Clifford, who was 82 at the time and a figurehead who lent his name to give it an air of legitimacy, 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. − − The "Report to the Committee on Foreign Relations United States Senate" led by Senators [[John Kerry]] and Hank Brown noted that a key strategy of "BCCI's successful secret acquisitions of U.S. banks in the face of regulatory suspicion was its aggressive use of a series of prominent Americans," Clifford among them.<ref>[http://www.fas.org/irp/congress/1992_rpt/bcci/ The BCCI Affair], A Report to the Committee on Foreign Relations, 102d Congress 2d Session Senate, December 1992.</ref> Clifford, who prided himself on decades of meticulously ethical civic conduct, summed his predicament up when he told a reporter from the ''New York Times'', "I have a choice of either seeming stupid or venal." Indictments against Clifford had been set aside because of his failing health.
Bank of Credit and Commerce International (view source)
Revision as of 20:24, October 29, 2016
, 20:24, October 29, 2016→Clark Clifford
Part of this "intellectual property" would involve a banking transaction software system based on the stolen PROMIS software. A telecommunications back door to the PROMIS software was introduced by Michael Riconosciuto, Director of Research for a Wackenhut-Cabazon Indian Reservation joint venture. In an affidavit, Riconosciuto says the copy of the PROMIS software he received was given to Wackenhut by [[US Justice Dept.]] official Peter Videnieks. Earl Brian, acting through Wackenhut, then gave it to Riconosciuto.
Part of this "intellectual property" would involve a banking transaction software system based on the stolen PROMIS software. A telecommunications back door to the PROMIS software was introduced by Michael Riconosciuto, Director of Research for a Wackenhut-Cabazon Indian Reservation joint venture. In an affidavit, Riconosciuto says the copy of the PROMIS software he received was given to Wackenhut by [[US Justice Dept.]] official Peter Videnieks. Earl Brian, acting through Wackenhut, then gave it to Riconosciuto.
===Disposition===
===Disposition===
The American banking assets including First American Bank were sold to First Union Bank. On September 1, 2001, First Union merged with Wachovia, and later Wachovia merged with Wells Fargo.<ref>{{cite web|url=https://www.wellsfargo.com/about/corporate/firstunion|title=First Union is Now Wells Fargo|accessdate=October 23, 2016}}</ref> Wells Fargo had its own banking scandal in 2016.
The American banking assets including First American Bank were sold to First Union Bank. On September 1, 2001, First Union merged with Wachovia, and later Wachovia merged with Wells Fargo.<ref>{{cite web|url=https://www.wellsfargo.com/about/corporate/firstunion|title=First Union is Now Wells Fargo|accessdate=October 23, 2016}}</ref> Wells Fargo had its own banking scandal in 2016.