Word: adham
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...Rogers last week had to kiss that serenity -- and a $600,000 two-year contract -- goodbye. The wealthy client: Sheik Kamal Adham, the former director of Saudi intelligence and a key figure in the Bank of Credit & Commerce International scandal. According to the U.S. Federal Reserve Bank, the well-connected Adham was a B.C.C.I. front man for the illegal purchase of Washington's First American Bank and B.C.C.I.'s main contact with Clark Clifford, the chairman of First American. Adham also received more than $300 million in B.C.C.I. loans, according to bank documents...
...Waterhouse, covertly acquired the stock of First American, code-named WXYZ in the report, through "prominent Middle Eastern individuals" who thus were merely nominal -- or "nominee" -- owners. B.C.C.I. then used First American shares as collateral for sham loans that produced phony income. Clifford, meanwhile, regularly briefed Abedi and Kamal Adham, a major B.C.C.I. shareholder from Saudi Arabia, on First American's operations. Clifford said the meetings were needed to keep B.C.C.I., as adviser to the Arab owners of First American, informed about the U.S. firm...
...Bert Lance most of his shares in the National Bank of Georgia for $2.4 million, a price far above the market value; other Arab moneymen reportedly arranged a loan for Lance of about $3.5 million. In another case, a group of Arabs, led by a shadowy sheik named Kamal Adham, the former chief of Saudi internal intelligence, touched off a confusing imbroglio in Washington by trying to take over 55-year-old Financial General Bankshares Inc. With assets of $2.3 billion, the holding company owns a chain of twelve banks stretching from Tennessee to New York. After a proxy fight...
...enough that two weeks ago the Securities and Exchange Commission charged Lance and his friends with violating federal law by trying to conceal the extent of their purchases of Financial General shares. Lance's wife LaBelle and four Arabs, including the Crown Prince of Abu Dhabi and Kamal Adham, reported to be head of the Saudi Arabian intelligence service, had bought 20% of the stock. They apparently coordinated their purchases so that nobody had more than 4.9% (5% or more would have required a report to the SEC). Without admitting any wrongdoing, Lance and others then signed...
National Guard, is sympathetic to Sadat. So is Kamal Adham, the King's top security adviser. Crown Prince Fahd, who is First Deputy Premier and in effect the head of government, leans toward Sadat, but has remained uncommitted...