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Response to valerief (Reply #10)

Fri Nov 13, 2015, 01:16 PM

12. Gnarly! Nugan Hand goes with BCCI in more than the annals of high class corruption.

The secret government and bankster types have a history of working together, not only to fight godless communism, but to make big bucks without anyone really being held to scrutiny, let alone account.

Zum beispiehl:

Bankers to the New World Scum Class :

BCCI and its ilk flourish because they serve the needs of spies, tyrants and crooks.

ALEXANDER COCKBURN | Alexander Cockburn writes for the Nation and other publications
The Los Angeles Times, August 01, 1991

To do their dirty business, spy agencies like the CIA need dirty money and the services of dirty banks, which is why we find the Central Intelligence Agency using the same institution as did Abu Nidal, Manuel Noriega, the Contras and the Medellin cartel.

One day they'll probably make a soap opera out of the daily business life of the Bank of Credit and Commerce International, whose sordid affairs are slowly coming to light and many of whose officers have just been indicted in New York. The soap opera could use such authentic scenes as:

-- The CIA depositing millions to the account of the Contras, in straightforward defiance of U. S. law;

-- Agents of Abu Nidal making withdrawals and deposits in a BCCI London branch, where the manager has said that British intelligence monitored the account, whose balance usually stood between $50 million and $70 million;

-- Mrs. Manuel Noriega depositing millions in London on behalf of her husband in BCCI's Sloan Street branch, whose manager, Amjad Awan (son of a former head of Pakistani intelligence) will be the U.S. government's main witness against Noriega;

-- The South African government making secret deposits in the BCCI account of the Zulu Inkatha movement.

BCCI is not the first and will not be the last bank to stand at the crossroads of international knavery. In January, 1980, the body of Frank Nugan was found in a car on a back road in New South Wales, Australia. Nugan was half-owner and chairman of the Nugan Hand Bank, whose specialty was, like BCCI's, the no-questions-asked acceptance and transfer of large sums of cash from one country to another. In the wallet of the deceased Nugan were found the business cards of William Colby, former director of Central Intelligence and subsequently a legal adviser to Nugan Hand Bank, and of Bob Wilson, at that time ranking Republican on the House Armed Services Committee, and guest at a dinner Nugan had recently held.

Nugan Hand, which started its existence in Sydney, Australia, in 1973, operated in 26 countries including the United States. It shunted drug money from one haven to another; smuggled money out of the Philippines for the Marcos family account; financed such CIA schemes as the sale of a spy ship to Iran in the 1970s and the funneling of money to the UNITA rebels in Angola. Eventually the bank, its payroll resplendent with retired U.S. generals and admirals, collapsed just like BCCI in scandal and ruin.

The reason drug moguls and CIA agents stood shoulder to shoulder in line at Nugan Hand or BCCI branches was that their interests often ran in tandem, whether in Central America, the Golden Triangle of Southeast Asia or in Pakistan, home of Agha Hasan Abedi, founder of BCCI.



FAIR reports Cockburn's LA Times essays are the only places where US media mentioned the BCCI-Nugan Hand connection.

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