Word: altmans
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Dates: during 1990-1999
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Though Clifford and First American president Robert Altman insist that their foreign partners kept hands off First American, the auditors said B.C.C.I. used the U.S. firm's stock as an essential part of many fraudulent deals. B.C.C.I., said Price 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...
...Altman were also deeply enmeshed in B.C.C.I.'s affairs. The two men served as attorneys for B.C.C.I. and masterminded the bank's defense in the money-laundering case in Florida. Former B.C.C.I. bankers have told TIME that Altman even traveled to London to assure B.C.C.I. shareholders that the money-laundering case was a mere aberration that would be swiftly settled. Altman later returned to London, the insiders said, to soothe shareholders' concerns about B.C.C.I.'s losses by blaming the red ink on depressed conditions in many Third World areas where the sprawling bank operated...
Vessenski says he and those journalists had to decide when and whether to expose Barbie, who was in cognito under the name Klaus Altman, to the international press...
...Lance connection was paying off elsewhere as well. When Lance resigned, he hired Washington attorney Robert Altman to represent him. Through this connection, Abedi met Clifford, his key U.S. contact and a man who wielded precisely the sort of influence the Pakistani banker was looking...
...prominent Arab businessmen and members of ruling families from the United Arab Emirates as proxies, Abedi and B.C.C.I. organized an attempted hostile takeover of Financial General Bankshares, a Washington bank holding company. When the Securities and Exchange Commission charged that B.C.C.I. had secretly orchestrated it, Abedi hired Clifford and Altman to represent him and his group. This felicitous combination of wealthy shareholders from oil-rich Arab countries and Washington's most famous attorney calmed regulators, who allowed B.C.C.I.'s fronts to purchase Financial General, which they renamed First American...