Word: agha
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Dates: during 1990-1999
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...expression of Britons' disapproval of the monarchy, against which Diana had staged a rebellion. The public's views must have shocked the inmates of Buckingham Palace. The lowering of the flag to half-staff under pressure of public opinion was the beginning of the end of an era. AGHA KAFEEL BARIK Karachi...
...DIED. AGHA HASAN ABEDI, 73, founder of the Bank of Credit & Commerce International; of heart failure; in Karachi, Pakistan. Allegations of criminality brought down the once-powerful B.C.C.I. in 1991. Subsequently, Abedi, accused of perpetrating the largest financial fraud in history, was indicted for theft and other charges in the U.S., but Pakistan refused to extradite...
...command Swaleh Naqvi was sentenced to eight years in the slammer and ordered to pay $255 million in restitution in connection with federal charges stemming from the biggest bank fraud ever. Naqvi now faces trial in New York Friday on state charges. But Naqvi's boss, B.C.C.I. founder Agha Hasan Abedi, is currently in Pakistan and unlikely to be brought to justice, says TIME correspondent S.C. Gwynne, who covered the scandal. Naqvi has pleaded indigence and probably won't pay the fines levied against him. Still, today's development is a significant victory for the feds. "Naqvi was the main...
...Dhabi court convicted 12 former top executives of the collapsed Bank of Credit & Commerce International on criminal charges of fraud and mismanagement in one of the world's largest financial scandals. The three key defendants, though, were convicted in absentia: Agha Hassan Abedi, the B.C.C.I. founder; Mohamed Saleh Naqvi, the empire's former chief executive; and Ziauddin Ali Akbar, the bank's former treasurer. The court also ordered the group of 12 to pay $9.13 billion in restitution to Abu Dhabi's government and ruling family, which held a 77.4% stake in B.C.C.I...
...ruler of Abu Dhabi and President of the United Arab Emirates. "Abu Dhabi has been promising cooperation for a year, but we've gotten nothing out of them," the district attorney said last week. His frustration is understandable: Zayed, now the owner of the tattered remains of B.C.C.I. founder Agha Hasan Abedi's erstwhile $20 billion banking empire, has placed 18 of the bank's top officials -- all of them potential witnesses who could help explain the workings of the criminal operations -- under house arrest in Abu Dhabi while he sits on most of the bank's records...