The Info Web

#Banking

26 entries

People (12)

  • Bert Lance Jimmy Carter's budget director, who resigned in 1977, sold the National Bank of Georgia to BCCI nominee Ghaith Pharaon, and introduced Agha Hasan Abedi to Clark Clifford and Financial General.
  • Christopher Drogoul Manager of the Atlanta branch of Banca Nazionale del Lavoro who extended more than four billion dollars in unreported credit to Iraq and testified that his superiors in Rome and Kissinger Associates knew of the business.
  • Clark Clifford Truman aide and Defense Secretary who, as chairman of BCCI's secretly owned First American Bankshares, assured regulators BCCI had no role in it; indicted in 1992, his charges were dismissed for ill health.
  • David Rockefeller The youngest of the five Rockefeller brothers, David Rockefeller built Chase Manhattan Bank into the primary financial instrument of the Rockefeller family's Latin American strategy, serving as the network's commercial arm while Nelson directed its political and intelligence operations.
  • Jamie Dimon American banker who has led JPMorgan Chase since 2005 and testified in 2023 that he knew nothing of Jeffrey Epstein as a client until 2019, while his deputies managed the relationship.
  • Jes Staley JPMorgan executive who managed and vouched for Jeffrey Epstein's banking relationship, later ran Barclays, and was banned from senior UK finance roles for misleading the regulator about that relationship.
  • Khalid bin Mahfouz Saudi banker who held about 20 percent of BCCI, was indicted in Manhattan in 1992 for defrauding its depositors, and settled in 1993 for 225 million dollars; named in a 1985 PROMIS software document.
  • Mary Erdoes JPMorgan Chase executive who ran its private bank from 2005 and its asset and wealth management arm from 2009, and who handled the bank's Jeffrey Epstein relationship until his 2013 exit.
  • Robert Altman Washington lawyer, Clark Clifford's partner and president of First American Bankshares, indicted in July 1992 over BCCI's secret ownership of the bank and acquitted by a Manhattan jury in August 1993.
  • Rockefeller family American family whose Standard Oil fortune endowed the Rockefeller Foundation and Chase, and whose sons Nelson and David ran wartime propaganda, covert-action coordination and hemispheric banking.
  • S. C. Gwynne Former international banker and Time correspondent, bureau chief and senior editor who co-wrote Time's 1991 BCCI cover story and The Outlaw Bank, later executive editor of Texas Monthly and a historian.
  • Stephen Cutler American lawyer who ran SEC enforcement, including the 2003 Enron case against JPMorgan Chase, then became JPMorgan's general counsel from 2007 to 2015 while the bank kept Jeffrey Epstein as a client.

Organizations (8)

  • Bank of Credit and Commerce International Pakistani-founded international bank, registered in Luxembourg and the Cayman Islands, that secretly owned US banks and laundered money for traffickers and intelligence clients before regulators closed it on July 5, 1991.
  • Bank of England Central bank of the United Kingdom and BCCI's principal supervisor, which propped up the bank in secret from 1990 before closing it in July 1991.
  • Chase Manhattan Bank Chase Manhattan Bank, led by David Rockefeller from 1961 to 1981, served as the Rockefeller family's primary financial instrument in Latin America, with its credit policies in Brazil contributing to the economic conditions that preceded the 1964 military coup.
  • Deutsche Bank German bank that handled Jeffrey Epstein's accounts from 2013 to 2018 after JPMorgan exited him, processed payments to women and alleged co-conspirators, and paid 225 million dollars in penalties and settlements.
  • Development Finance Corporation New Zealand state development lender founded in 1964, corporatized in 1987, sold in 1988 to the National Provident Fund and Salomon Brothers, and placed in statutory management as insolvent in October 1989.
  • Federal Reserve Board Governing body of the U.S. central banking system, which approved the BCCI-backed takeover of Financial General Bankshares in 1981 on false assurances and fined BCCI 200 million dollars in July 1991.
  • JPMorgan Chase Largest U.S. bank, which kept Jeffrey Epstein as a client from 1998 to 2013 over compliance objections, flagged most of his suspicious transactions only after his 2019 arrest, and paid 365 million dollars in settlements.
  • Stephens Finance Ltd. Hong Kong finance company established in 1978 by the Riady family's Lippo Group and the Stephens brothers of Arkansas, where John Huang worked before joining Worthen Bank.

Events (1)

  • BNL Scandal Discovery in 1989 that the Atlanta branch of Italy's Banca Nazionale del Lavoro had lent Iraq five billion dollars off its books, and a prosecution that Congress and the trial judge said shielded higher officials.

Places (5)

  • Geneva Swiss banking city, seat of BCCI's secretly held affiliate Banque de Commerce et de Placements and of the Gokal brothers' Gulf Group, whose BCCI loans led to a fourteen-year sentence for Abbas Gokal.
  • Hong Kong Financial center where the Stephens and Riady families formed their first joint company in 1978, where Lippo sought BCCI's failed subsidiary, and from which a Lippo company paid Webster Hubbell in 1994.
  • Jordan Jordan is a Middle Eastern country whose capital Amman is home to the Arab Bank Limited, which under Chairman Abdul Majeed Shoman expressed willingness to process multi-billion-dollar reconstruction fund transfers connected to FIDCO and Lebanon-related covert finance operations.
  • Liechtenstein Liechtenstein is a small Central European principality known for banking secrecy, where arms dealer Adnan Khashoggi established front companies alongside Swiss entities to handle commissions from Iran-Contra arms deals.
  • Switzerland Switzerland is a European country whose banking secrecy laws made it the primary offshore jurisdiction for Iran-Contra arms dealer commissions, BCCI front operations, and Adnan Khashoggi's front companies, before Khashoggi was arrested there in 1988.