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emad Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-19-04 09:03 AM
Original message
Defence opens in BCCI law suit
Edited on Mon Jul-19-04 09:05 AM by emad aisat sana
BBC News snip:

The Bank of England (BOE) will begin its defence on Monday in a court case relating to the collapse of BCCI Bank.

Thousands of depositors lost money in 1991 when BCCI was wound up owing more than $16bn (8.6bn), amid accusations of money laundering and fraud.

Liquidators Deloitte & Touche accuse the BoE of "misfeasance", doing nothing despite knowing BCCI was badly run.

The BOE denies the charge, and the trial is set to become one of the UK's most expensive and longest running. According to BBC business correspondent Hugh Pym, the case is likely to continue until early 2006, with legal bills which could run to nearly 107m ($200m).


From the UK's Financial times:

.........its lawyers have also alleged that Bank officials misled a senior judge who, in 1992, looked into the collapse of BCCI.

...........The trial will then adjourn for the summer break, although the two parties will be back in the House of Lords at the start on July 26 to argue over disclosure issues and, in particular, whether certain documents carry legal privilege.This separate debate is being watched closely by the legal profession, and the outcome could have widespread implications for communications between lawyers and their clients.

The first seven months of the trial have been occupied entirely by lawyers for the liquidators, who have been setting out the case against the Bank.


(NB: if this link doesn't work or charges non-UK access, I can paste it up for reference as a subscriber)

Some salient points not mentioned in the UK press:


BCCI London general manager John Hilberry submitted afidavit to UK's Metropolitan Police & City of London Police re moneylaundering by UK politicians including Thatcher's Jeffrey Archer (ex Tory party deputy chairman; jailed for 18 months for perjury), Michael Ashcroft (ex-Tory Pary chairman, owner of Belize Bank Trust and business partner of Worldcom's Bernie Ebbers, who sold him a $100 million condo in Florida's Boca Raton) and Jonathan Aitken (Al-Yamamah arms-for oil fiasco mastermind, minister for defence procurement under John Major and subsequently jailbird - sentenced to 9 months in Belmarsh for perjury; widely involved in BAE Aerospace Saudi slush fund contracts including pimping for the Saudi royals).

Hilberry did plea bargain with police re involvement of JONATHAN BUSH - Riggs Bank chair, see recent DU discussions on Pinochet/Riggs scandal), JAMES R BATH and RICHARD MCGARRACH HELMS (EX-CIA) as directors/minority shareholders of BCCI parent company BCCI Holdings Luxembourg and Grand Cayman.

Hilberry had a natural daughter who "disappeared" in July 1986 and whose death has never been officially attributed to anyone. Last year UK High Court evidence in the Chancery Division heard how this woman, estate agent Suzie Lamplugh, had ben part of a huge property/money laundering fraud in the UK and US and had been gunned down by IRA connections related by blood/marriage to Al-Qaeda terrorist Khalid Shaikh Mohammed. Lamplugh case still officially open but police documents on her and her father are before the BCCI class action judge. Some were classified under Thatcher and John Major's premierships as being "potentially dangerous to British security". This has been challenged and their admissibility is now open.

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seemslikeadream Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-19-04 09:09 AM
Response to Original message
1. money-laundering bank fraud bribery arms trafficking
Edited on Mon Jul-19-04 09:13 AM by seemslikeadream

The Financial Times ran a seven-part series on BCCI. The bank was revealed to have been involved in money-laundering for drug lords and terrorists, illegal arms trafficking, bribery of government officials, sharp accounting practices and bank fraud. Drawn into its web were Mid-East potentates, Clark Clifford advisor to Presidents Truman, Eisenhower, Kennedy and Johnson the CIA, terrorist Abu Nidal and Panamanian strongman Manuel Noriega.


Look out Jonathan Bush we're right on your heels, be afraid be very afraid.
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emad Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-19-04 09:18 AM
Response to Reply #1
Edited on Mon Jul-19-04 09:21 AM by emad aisat sana
the UK public in 1981 and financed a failed coup in the UK which Vice Pres Bush masterminded when Thatcher became Prime Minister.

The most damning testimony in the class action in the plaintifs' affidavits conccerns paedophile pimping for the Saudis in the Al-Yamamah oil deal scandal and the role of covert KGB-led and trained Mossad brothels that exploited, abused and sold minors from Asia (mainly Thailand, Malaysia, Philippines, Indonesia) to Arab potentates, western celebrities from film and music business and politicians on the BFEE payroll.
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seemslikeadream Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-19-04 09:25 AM
Response to Reply #2
never heard of it.

Sex scandal draws intense interest in Austria

Children face sex risk at US schools (Guardian)

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bobthedrummer Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-19-04 09:33 AM
Response to Reply #3
5. They would handle the finances for kiddie-porn, assassins, slavers...
if the price were right.
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emad Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-20-04 10:33 AM
Response to Reply #3
14. Another seminal DU discussion!
hope there's enough bandwidth to cope with DU bookmarks this year....
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seemslikeadream Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-20-04 10:38 AM
Response to Reply #14

Enveloped in a sentiment,
A sound that rushes over me.
Engage an impulse to pretend
I have a faith as pure.
Not forgetting what it means to dream.
Indulging everything.
Entertaining thoughts that I've the strength
Of those I yearn to be.
Cheers and tribute greet the saviours.
Reckless thoughts survive.
Anachronistic and impulsive.

And what will happen?
Will I dream?
I am too scared to close my eyes.
For a second please hold me.
None can change in me these things that I believe.
But I don't know what happens now.
I am too scared to close my eyes.

Vnv Nation
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bobthedrummer Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-19-04 09:49 AM
Response to Reply #2
6. MONARCH child programming evidence.
The KGB? The Mossad? Movie stars? Musicians? POLITICIANS???

Evil spookery-like the stories told by surviving CIA assets that were "specially trained" and given missions as kids. Think about it, now that the beans have been spilt. Listen to Cheryl Hersha's childhood story.

MONARCH programming by CIA
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D-Notice Donating Member (820 posts) Send PM | Profile | Ignore Mon Jul-19-04 02:23 PM
Response to Reply #2
8. Attempted coup?
Really? Never heard of it!

Any links?
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emad Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-20-04 10:05 AM
Response to Reply #8
11. This is classified stuff that has been successfully subpoenaed
by the plaintiffs of the UK BCCI class action. Pretty damning stuff.
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D-Notice Donating Member (820 posts) Send PM | Profile | Ignore Tue Jul-20-04 03:45 PM
Response to Reply #11
17. The US
Trying to overthrow democracy & install a dictatorship...

Makes a change for it not to be be a 3rd world country!
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bobthedrummer Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-19-04 09:31 AM
Response to Original message
4. This is all about the Saudi financing of Osama bin Laden and al-
Qaida's terrorists through those huge commissions paid out in Defense contracts-like the BAE case.

Soiled Dove
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Karenina Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-19-04 11:13 AM
Response to Reply #4
7. Kick!
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seemslikeadream Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jul-19-04 09:09 PM
Response to Original message
9. "The Outlaw Bank"
is on line if anyone wants to read it.

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emad Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-20-04 10:01 AM
Response to Reply #9
10. Re: Jack Blum, attorney at law: Now there's a name from the past!
Can't copy any paras from this link for some reason..... but on this page:
"the Ali Mirza debriefing conducted by Jack Blum in early 1989"
is very interesting.

I used to know Blum well and met several UK-based clients of his who were involved in money laundering lawsuits in the US whom he defended.

In particular, he was involved with untangling the US assets of UK-based Middle East publisher Middle East Economic Digest (MEED) which was sold to the EMAP business publishing group in late 1986. Its Washington DC office/subsidiary was subsequently found to have been funded by the Florida BCCI scam and the woman who ran it under the name of "Gina Brown" was murdered by IRA thugs in London in 1986 after testifying about the source of her salary payments in the US.

MEED (where journalist Peter Truell once briefly worked, before Washington Post; he has written a bit about BCCI) was a huge Mossad fraud perpetrated by IRA moneylaunderers on the payroll of Stasi chief Marcus Wolf. There were some 20 former IRA mercenaries on the MEED company books posing as journalists who turned out to be convicted sex offenders paid to conduct UK mainland bombing campaigns in the 1970s and then given new IDs as UK hacks. Blum said before his death that this was fixed up by Richard McGarrach Helms and facilitated/covered up by Edwin Meese.

Many of these hacks today are "respectable Middle East experts" and a at least two are senior members of the UK Labour Party. One is very high profile and a household name for fans of BBC TV current affairs/news programmes. Another is the sister of Al Qaeda terrorist Khalid Shaikh Mohammed and is married to an extremely senior UK academician who heads a top UK university and is personal Middle East adviser to Tony Blair on Iran, Pakistan and Iraq.

Blum evetually admitted that these hacks were all run by ex-Thatcher Tory Minister Jonathan Aitken, who is now a convicted felon busted for perjury when Minister of Defence Procurement for John Major.

Jack Blum was involved in lawsuits of ex-Mossad London bureau assess Lucien Dahdah and Joseph Khoury, minority shareholders of part of the MEED company, who held Lebanese passports and operated from Cyprus. (NB: Blum always asserted that Dahdah and Khoury were involved in the 1981 shooting of Israeli UK ambassador Shlomo Argov and the subsequent shooting of WPC Yvonne Fletcher outside the Libyan Embassy in London in 1984).

As minority shareholders, Dahdah and Khoury contested the 1986 sale of MEED and eventually lost. The legal process eventually revealed they were financed by Colombian coke money laundered via BCCI Florida and were also working for billionaire banker EDMOND SAFRA, of Republic National Bank of New York fame. He in turn was a close associate of ARMAND HAMMER and laundered money for him via Asian offshore tax havens.

Safra died in a mysterious fire in Monaco a couple of years ago; nurse Ted Maher took the rap and is doing a 10 year stretch. Safra's widow Lilly (nee Watkins) inherited approximaely $2billion of her husband's money. Her previous husband also died mysteriously: committed suicide by shooting himself in the head...twice, that is. Blum asserted that Lilly Safra was a CIA stooge run by Helms/Meese.

Blum before he died left documents showing that the Stasi's Marcus Wolf was the mastermind behind Mossad operations connected with BCCI fraud and money laundering operations. In particular, his nephew who used the pseudonym "Jonathan Becker", worked as part owner/c.e.o. of subsidiary company MEED Consultants and hid a string of paedophile convictions from the 1960s from which he managed to evade prosecution by doing a plea bargain with the CIA who gave him a new ID in exchange for dirty tricks ops in the Middle East while working under this guise of Arab expert on Gulf States' economies. His personal assistant at MEED Consultants was the sister of the murdered Gina Brown. She has also testified in the UK about the Stasi's role in the BCCI debacle.

"Becker" died in the UK about five years ago; his eldest natural son lives in the UK and testified to his own role in UK mainland bombings under the "brand" of the Provisional IRA in London during the 1980s. He also has a string of sex offences against minors to his name.

Blum's documents are held by the legal team working for the plaintiffs in the UK BCCI class action. They show some very important connctions:

Like Banco Ambrosiano, BCCI was essentially run by a paedophile cult gang connected to the P2 Lodge which is being tried for the murder of God's Banker Roberto Calvi in Rome at this moment in time. Joining up the dots the inescapable conclusion is that what is termed Al Qaeda today is part of this 1980s gang and that "Al Qaeda" is merely the Muslim branch of the P2 Lodge.

Secondly, that the KGB trained and ran Mossad operations in the guise of Ambrosiano and BCCI. And that the raison d'etre of all this was to finance terrorism to frame the UN Head of Military Inteligence who had testified time after time both to the US Supreme Court about this network, as well as in the UK and to the UN Security Council itself.

Thirdly, that quasi-religious organisations like Opus Dei were merely tentacles of the same beast which was conducting a cold war realpolitik designed to discredit and disband the UN. That's what sank FBI traitor Bob Hanssen.

And lastly that Mossad's infiltration and penetration of public high office in Arab States is much bigger and deeper than previously acknowledged.

Blum's papers are backed up by UK security/intelligence files which were subpoenaed by the BCCI plaintiffs last year after much blood sweat and tears.

Blum's testimony forms a small part of the evidence to be heard in open court.
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seemslikeadream Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-20-04 10:09 AM
Response to Reply #10
12. To copy it emad
you have to treat it like a picture.
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emad Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-20-04 10:12 AM
Response to Reply #12
13. Don't think my I.T. technical skills up to much - tried that and
gave up!
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bobthedrummer Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-20-04 02:29 PM
Response to Original message
16. Didn't BCCI start out as a money laundry for Pakistan's military
intelligence (ISI)???
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Octafish Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-20-04 04:02 PM
Response to Reply #16
18. BCCI funded Pakistani (North Korea and Iran) H-Bomb
No wonder George Herbert Walker Bush wanted to keep Sen. Kerry's big nose out of National Security business, that being the purview of the treasonous likes of Oliver North and other drug-dealing terrorists:

But outside of the ISI money trail, there was another method of financing Pakistan's nuclear program. The BCCI, the Bank of Credit and Commerce International, was the first global bank for the Islamic world. Founded by a Pakistani and funded by Arab Gulf states, it was used by criminals, governments and intelligence agencies to fund activities they wanted to hide. But the bank's illegal activities began attracting attention, and when BCCI collapsed in 1991, its books were thrown open.

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seemslikeadream Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-20-04 04:19 PM
Response to Reply #16
19. BCCI and Pakistani Nuclear Hero
Edited on Tue Jul-20-04 04:20 PM by seemslikeadream
Pakistan's Nuclear Hero Defended
by Jefferson Morley

"Washington and Islamabad," says the Delhi-based daily, are "holding their breath" to see if Khan "will spill the beans about Pakistan's offical complicity in the spread of nuclear weapons technology."

Pakistan proceeded to spend some $10 billion developing a nuclear arsenal, say the editors of the Times of India. The money came from Libya, Saudia Arabia, Iraq, the United Arab Emirates and the depositors of the BCCI. The bank, says the editors of the Times of India, was founded by a Pakistani and operated freely in the Persian Gulf oil enclave of Dubai. It is inconceivable, they argue, that Western intelligence agencies didn't know all about this black market.

In other words, was the United States totally clueless while a Pakistani scientist supplied nuclear technology to Iran and North Korea.

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frank frankly Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-20-04 04:24 PM
Response to Original message
20. Exerpts from John Kerry's "The New War" on BCCI...
This book, written in 1997 and reissued this year, just crossed my desk and WOW did a few paragraphs leap out! ...


This is the opening paragraph in the Preface and Acknowledgments:

"In a fundamental sense, work on this book began over ten years ago. In 1985, soon after I entered the Senate, a Vietnam veteran called me with information about a group of arms-trafficking mercenaries he had met in Central America. I began investigating and stumbled onto Oliver North's secret network of soldiers of fortune, arms dealers, cocaine traffickers, and corrupt officials who later became the heart of the Iran Contra scandal. Ironically, as I write these words, that scandal has again drawn national attention, as people try to understand how some in the United States government could have allowed foreign policy objectives, like support for the Nicaraguan Contras, to facilitate the transport of illegal narcotics into the United States."


"A decade ago I began to uncover portions of a common international infrastructure for transnational crime. I saw it created in changes in the global marketplace, in computerization and globalization, in the realm of illicit arms and espionage, in the networks of terrorism, in banking capitals and financial centers, in far-flung island resorts, and at ports and borders all over the world. I found that most people in the government did not have a clue as to the existance of this infrastructure or how it operated.

"In the years that followed, one investigation led to another. My staff and I interviews criminals from the inside of various U.S. prisons and found that they had had remarkable access to political figures in countries all over the world. I began tracking Colombian drug traffickers to the Bahamas and Haiti, and this work led me to the network of Manuel Noriega. Noriega's drug and intelligence network used some of the same people Olliver North had used in supplying the Nicaraguan Contras, another example of the common infrastructures of transnational crime. Some of Noriega's drug traffickers were, unfortunately, also the Contras', and for some of them were even employed by the United States."

"In turn, the Noriega investigation opened the door to the place where he laundered his money, a bank called the Bank of Credit and Commerce Internationsl (BCCI). My investigation of BCCI, a $23 billion international financial institution, played a key role in shutting down the bank and exposing how dirty money and corruption flowed together in North America and European capitals, as well as in the developing world. The BCCI investigation took me deeper into the clandestine world of money launderers, drug traffickers, arms merchants, terrorists, and covert nuclear programs. During the dozens of hearings I held, I was able to expose a lot about this hidden world. But I felt that in the day-to-day headlines, some of the scope of what I was seeing had yet to be adequately described."
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