Word: adham
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Dates: during 1990-1999
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...younger partner Robert Altman faced charges that they took millions in bribes to act as front men for the notorious Bank of Credit & Commerce International. But even more significant may be a legal move related to the grand jury indictments of last week: Saudi Sheik Kamal Adham, the longtime head of Saudi Arabian intelligence and one of the most powerful men in the Middle East, entered a guilty plea to charges that he conspired to help B.C.C.I. secretly purchase control of First American, the bank that Clifford and Altman headed. Adham, a key director of both B.C.C.I. and First American...
...Adham is just the latest of several Saudis with intimate ties to the royal family who have been dragged into the B.C.C.I. investigations. Also indicted by Manhattan District Attorney Robert Morgenthau was Ghaith Pharaon, the most flamboyant of the Saudis, who bought the National Bank of Georgia from Bert Lance, President Carter's onetime budget chief, and later sold it to First American. Last month Morgenthau moved against Sheik Khalid bin Mahfouz, who headed the largest commercial bank in Saudi Arabia. Still another enormously rich Saudi remains under investigation: Abdul Raouf Khalil, a shareholder in both B.C.C.I. and First American...
...phony stockholders in B.C.C.I.'s purchase of First American. The witness, Akbar Bilgrami, testified that he had personally read the loan agreements by which B.C.C.I. lent the money to Zayed to buy First American shares. If true, this means that Zayed violated the same banking laws that Adham and Mahfouz are charged with breaking...
Bush has insisted that he did not know Kamal Adham, who was running Saudi intelligence at the same time Bush was CIA director. The question was raised last year when the White House was embarrassed by the revelation that Adham had hired chief of staff John Sununu's ex-aide Edward Rogers for a $600,000 fee. A senior intelligence officer stationed in Saudi Arabia during those years told TIME last week that Bush's denial is not credible. "It's flat impossible," he says...
...cooperates as promised, Adham will prove an interesting witness in the deepening B.C.C.I. probe. But that which is interesting to American prosecutors is setting teeth on edge in Saudi Arabia, and elsewhere...