--- born: 1935-07-25 category: Iran-Contra created: 2024-04-25 died: 2017-06-06 location: Mecca, Saudi Arabia summary: Adnan Khashoggi (1935-2017) was a Saudi billionaire arms dealer and key Iran-Contra middleman who bridged financing for the Reagan administration's arms sales to Iran through BCCI, and was named alongside Manucher Ghorbanifar and Richard Armitage in the May 1985 Reynolds letter as a broker for the covert distribution of PROMIS software. tags: - Person - IranContra - PROMIS - ArmsDealer - BCCI updated: 2026-05-17 --- [Adnan Khashoggi](/people/adnan-khashoggi/) (25 July 1935 – 6 June 2017) was an international arms merchant and a factotum for the House of Saud. He was considered the richest man in the world in the 1980s. Khashoggi covered his financial tracks by establishing front companies in [Switzerland](/places/switzerland/) and [Liechtenstein](/places/liechtenstein/) to handle his commissions. He also developed contacts with notable figures such as [CIA](/organizations/central-intelligence-agency/) officers [James H. Critchfield](/people/james-h-critchfield/) and [Kim Roosevelt](/people/kim-roosevelt/), and U.S. businessman Bebe Rebozo, a close associate of former U.S. President [Richard Nixon](/people/richard-nixon/).[^1] Khashoggi's sister, [Samira Khashoggi Fayed](/people/samira-khashoggi-fayed/), was the mother of [Dodi Fayed](/people/dodi-fayed/), who was romantically involved with [Diana, Princess of Wales](/people/diana-princess-of-wales/). Khashoggi's yacht, *Nabila*, was the largest in the world at the time and was featured in the James Bond film *Never Say Never Again*.[^1] ### Involvement in Iran-Contra Affair and PROMIS Scandal Khashoggi was implicated in the [Iran-Contra Affair](/events/iran-contra-affair/) as a key middleman in the arms-for-hostages exchange, working alongside Iranian arms dealer [Manucher Ghorbanifar](/people/manucher-ghorbanifar/). He was found to have borrowed money for these arms purchases from the now-bankrupt financial institution, the [BCCI](/organizations/bank-of-credit-and-commerce-international/), with [Saudi](/places/saudi-arabia/) and U.S. backing.[^1] BCCI helped Adnan Khashoggi finance the sale of arms to [Iran](/places/iran/) as a part of the [Reagan Administration](/people/ronald-reagan/)'s Iran-Contra effort.[^2] Khashoggi participated in five of the deals for the [United States](/places/united-states/), and BCCI provided the bridge financing through [Israel](/places/israel/) to [Iran](/places/iran/).[^3] He was also involved in brokering the transaction of [PROMIS](/programs/promis/) software to an Arab Sheik for resale and general distribution. He was mentioned in a document dated May 16, 1985, along with [Manucher Ghorbanifar](/people/manucher-ghorbanifar/) and [Richard Armitage](/people/richard-armitage/), as individuals who would broker this transaction. [William Bradford Reynolds](/people/william-bradford-reynolds/) independently remembered Armitage, Khashoggi, and Ghorbanifar working together on [PROMIS](/programs/promis/).[^1] ### Legal Troubles In 1988, Khashoggi was arrested in [Switzerland](/places/switzerland/), accused of concealing funds. He was held for three months and then extradited to the [United States](/places/united-states/), where he was released on bail and subsequently acquitted. In 1990, a [U.S.](/places/united-states/) federal jury in Manhattan acquitted Khashoggi and [Imelda Marcos](/people/imelda-marcos/), widow of the exiled Philippine President [Ferdinand Marcos](/people/ferdinand-marcos/), of racketeering and fraud.[^1] ### Connections His cousin, Hassan Yassin, was described as a close business associate of [Kamal Adham](/people/kamal-adham/).[^4] [^1]: Seymour, Cheri. *The Last Circle: Danny Casolaro’s Investigation into the Octopus and the PROMIS Software Scandal*. First Edition. TrineDay, 2010. [^2]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 12. [^3]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 387. [^4]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 352.