2 supporting chains · 0 counter-evidence / qualifications
The Federal Reserve’s final Pharaon decision found that BCCI used him as a nominee to acquire Independence Bank. BCCI financed the acquisition with loans for which recourse was limited to the shares. Its CCAH/First American notice describes a separate concealed-control structure.
2 supporting chains · 0 counter-evidence / qualifications
The Federal Reserve’s 1998 agreement identifies Clifford and Altman as former directors of CCAH and First American and former counsel to BCCI. The file includes the administrative notice, and the settlement addresses Clifford’s advanced age and ill health.
1 supporting chains · 0 counter-evidence / qualifications
The Senate report says CIA developed information on BCCI by 1979 and expanded collection in 1986. Its Directorate of Operations produced several hundred BCCI-related reports between 1979 and 1991. Richard Kerr also acknowledged intelligence-gathering use of the bank.
2 supporting chains · 2 counter-evidence / qualifications
Former Customs Commissioner William von Raab told Senate staff that C-Chase investigators found CIA-held BCCI accounts and were told to stop investigating those accounts. AUSA Mark Jackowski denied uncovering CIA involvement; Robert Mueller testified that CIA had not obstructed or interfered with DOJ’s investigation.
2 supporting chains · 0 counter-evidence / qualifications
Our report identifies approximately $1.84 billion of funded positions with a named counterparty, amount and transaction role. BCCI’s 1989 annual report separately reported about $23.519 billion in total assets and $18 billion in trade-finance business. These are different measures: the $1.84 billion is our reconstruction, not a figure certified by the annual report.
3 supporting chains · 1 counter-evidence / qualifications
The liquidators’ report describes early-2001 document discovery with Bank of America as Security Pacific’s successor and says document discovery was substantially complete by March 2002. It separately describes preparations for a UK Bank of America trial. The later liquidators’ report records a confidential 2004 settlement and voluntary dismissal of both proceedings.
2 supporting chains · 0 counter-evidence / qualifications
At the Senate Banking hearing, John Kerry attributed knowledge of bin Laden’s BCCI accounts to later law-enforcement and intelligence information. He said the closure caused a “very serious economic blow” because of their size. The transcript supplies no account balances.
2 supporting chains · 1 counter-evidence / qualifications
The BCCI forfeiture opinion records a $150 million general deposit at American Express Bank and other financial relationships. Separately, Levin’s September 26, 2001 material lists American Express among Al Shamal’s U.S. correspondent banks. It also says the three U.S. banks reported their accounts closed or largely inactive since 1997–1998.
1 supporting chains · 0 counter-evidence / qualifications
American Express Bank’s own 2001 annual report states that its Western Hemisphere Operations Center at 7 World Trade Center was lost on September 11. It says essentially all pending payments were processed at a backup site; the report identifies the New Jersey backup facilities.
2 supporting chains · 0 counter-evidence / qualifications
The federal court’s 1999 opinion describes the Geneva Agreement transfer from Abu Dhabi to the Court-Appointed Fiduciaries: more than 80 tons of BCCI records, including audit-committee, majority-shareholder-investigation and central-administration files, shipped in six planeloads in April 1994.
1 supporting chains · 0 counter-evidence / qualifications
The first inquiry began in March 1991: CIA told Senate staff the requested report had never existed. After von Raab confirmed it, staff asked again and were told no CIA documents concerning BCCI had been created. Kerry wrote on May 14; Webster acknowledged two documents on July 23. By the end of August, CIA had identified several hundred reports.