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Australia is the country where Nugan Hand Bank, the CIA-connected financial institution co-founded by Michael Hand and Frank Nugan, operated until its 1980 collapse amid drug trafficking and intelligence connections, after which Hand disappeared with alleged CIA assistance.

Australia is a country and continent in the Southern Hemisphere. It is mentioned in connection with Nugan Hand Bank, which was an Australian bank co-founded by Michael Hand and Frank Nugan. This bank reportedly laundered profits from drug trafficking in the Golden Triangle and financed subversive paramilitary activities in Southeast Asia. The bank collapsed in 1980, $5 billion in debt, and Michael Hand disappeared from Australia.1

Michael Hand reportedly fled Australia under a false identity on June 14, 1980, on a flight to Fiji. He was allegedly helped to escape by an American code-named "Charlie," identified as a former member of the U.S. Special Forces and ex-CIA operative. Michael Riconosciuto claimed to have handled money transfers for Hand when he fled Australia.1

Brian Toohey, a top Australian journalist, reported in his The Eye magazine in 1991 that Michael Hand had a postal drop in Washington State, and his wife was reportedly living with him there.1

Robert Booth Nichols also listed Australia as one of his residences.1


  1. Seymour, Cheri. The Last Circle: Danny Casolaro’s Investigation into the Octopus and the PROMIS Software Scandal. First Edition. TrineDay, 2010. ↩

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