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Bert Lance

T. Bertram 'Bert' Lance was Jimmy Carter's first Director of the Office of Management and Budget, who resigned in 1977 amid a congressional investigation into banking improprieties, and subsequently became the crucial intermediary who introduced Agha Hasan Abedi to Clark Clifford and facilitated BCCI's covert entry into the U.S. banking market.

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T. Bertram (Bert) Lance was President Jimmy Carter's budget director and former chairman of National Bank of Georgia.1

Political and Banking Career

Lance gained prominence as Jimmy Carter's budget director but later resigned due to a congressional investigation into financial improprieties.2 He became chief executive of the National Bank of Georgia, which was the largest lender to Jimmy Carter's peanut warehouse.3 He borrowed $2.6 million to finance his purchase of stock in the bank.4

Involvement with BCCI

Eugene Holley introduced Lance to Agha Hasan Abedi in October 1977.5 Abedi helped Lance finalize the acquisition of National Bank of Georgia from Lance in January 1978, and on the same day, Abedi paid off Lance's $3.5 million bank loan.6 Lance's financial difficulties were leveraged by Abedi to facilitate BCCI's entry into the U.S. market.7

Lance played a key role in the acquisition of Financial General Bankshares, which later became First American Bank.8 He recruited his friend and attorney Clark Clifford to represent Abedi, BCCI, and the front men in the Financial General suit.9 BCCI also hired Lance as a consultant at a salary of $100,000.10

Sources

  1. Beaty, Jonathan and Gwynne, S. C. The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI. New York: Random House, 1993, p. 10. ↩
  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. 178. ↩
  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. 179. ↩
  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. 179. ↩
  5. Beaty, Jonathan and Gwynne, S. C. The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI. New York: Random House, 1993, p. 11. ↩
  6. 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. ↩
  7. Beaty, Jonathan and Gwynne, S. C. The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI. New York: Random House, 1993, p. 179. ↩
  8. Beaty, Jonathan and Gwynne, S. C. The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI. New York: Random House, 1993, p. 181. ↩
  9. Beaty, Jonathan and Gwynne, S. C. The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI. New York: Random House, 1993, p. 183. ↩
  10. Beaty, Jonathan and Gwynne, S. C. The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI. New York: Random House, 1993, p. 182. ↩

Connected to

Organization
Bank of Credit and Commerce International
The Bank of Credit and Commerce International (BCCI) was a Pakistani-founded offshore bank that operated across 78 countries before its 1991 collapse exposed a decade-long conspiracy involving money laundering for drug cartels and intelligence agencies, illegal acquisition of U.S. banks, bribery, fraud, and arms trafficking, in what regulators called the largest bank fraud in history.
9 shared pages
viaRobert Altman · Jimmy Carter · Clark Clifford · Eugene Holley · Swaleh Naqvi
Person
Clark Clifford
Clark Clifford (1906-1997) was a Washington attorney who served as Special Counsel to President Truman, co-authored the National Security Act of 1947, served as Secretary of Defense under Lyndon Johnson, and became the central American figure in the BCCI scandal after he and his partner Robert Altman personally vouched to banking regulators that BCCI would not secretly own First American Bank -- a representation that proved false.
5 shared pages
viaRobert Altman · Clark Clifford · Swaleh Naqvi · Financial General Bankshares

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