Reply #3: Khashoggi was bailed out with a $4 million check from Peter Munk

[seemslikeadream]

http://archives.lists.indymedia.org/imc-ontario-stories/2001-November/000198.html

In 1983, the Khashoggi-led group formed the gold company whose name was soon changed to Barrick Gold Corp. Sheik Kamal Adham was reportedly one of the new company's founding co-owners. Adham, the chief of Saudi intelligence, had coordinated royalist guerrillas in Yemen, with British arms secretly provided through Khashoggi.
Beginning in 1985, Khashoggi borrowed $21 million, using his Barrick stock as collateral, for the covert transfer of arms to Iran for the Bush-North group, during an offical U.S. arms embargo against the Khomeini regime. Khashoggi who allegedly provided the loan from his Cayman Islands company, president of Khashoggi's Triad American holding company.
Khashoggi used the Monte Carlo office of the Bank of Credit and Commerce International to launder money for Iran arms sales. Barrick Gold Corp. co-founder Kamal Adham was later prosecuted for fraud in the BCCI case, and paid a $100 million fine.

Khashoggi's Saudi royal piggybanks also underwrote George Bush's Central American "Contras" adventures, making payments through the Swiss Bank Corp. and a Cayman Islands bank, totalling about $27 million.

When the Iran and Contra scandals blew up in 1986, U.S. Attorney General Edwin Meese linked the two scandals in a Nov. 25 public revelation. The next day, Munk announced a shareholders' meeting to decide on an urgent restructuring plan. A new organization emerged, keeping the Khashoggi group in control, but easing Khashoggi out of the limelight and making Munk the sole public figurehead. Personnel were shifted into the Canada organization out of Khashoggi's Triad operations in Utah. Tariq Kadri, Khashoggi's longtime attorney, was made president of the Horsham holding company that was put over Barrick.

As the U.S. Congress took up the arms-for-drugs investigation and other trails leading to Vice President Bush, Khashoggi became too hot for the Canadian partnership and the Khashoggi group's shares were officially sold off. Khashoggi was himself arrested in 1989, in a fraud case involving the Philippines' Marcos regime. Taken from Switzerland and jailed in New York, Khashoggi was bailed out with a $4 million check from his partner, Peter Munk.