Word: bahamians
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...Caribbean, apparently in the Bahamas, safe from extradition efforts. He found himself in the headlines again last week: for the past four years, according to a report aired on NBC Nightly News, Robert Vesco has been directing a booming drug-smuggling business from his palmy refuge and bribing top Bahamian officials to look the other...
...report said U.S. investigators believe that Vesco's operatives set up business at Norman's Cay. Vesco allegedly paid about $100,000 a month to Bahamian officials, including the Prime Minister, Sir Lynden Pindling...
...years the FBI has pursued Vesco, lately investigating his possible links with drug smuggling in the Caribbean, but no indictments have been sought. The probe once stalled when the FBI wanted to set up a sting operation to catch Bahamian officials taking bribes. The CIA station chief in the Bahamas and U.S. Ambassador Lev Dobriansky opposed the plan, and it was scuttled, for fear that any such investigation might jeopardize negotiations with Pindling's government over the continued use of a U.S. submarine-testing base there...
...people," says a Caribbean drug authority, "but he's not the kingpin." Finally, Caribbean drug dealers rarely trade in both marijuana and coke, as Vesco is accused of doing. Moreover, it seems that the drug charges against Vesco may have been inflated by U.S. officials hoping to pressure Bahamian authorities to extradite the financier...
What the I.O.R. may have obtained in return remains to be learned. But according to Sindona, the Vatican bank initially received 2.5% of the Bahamian bank's stock. Vatican officials told TIME that the stake in the Bahamian bank eventually rose to 8% and that the church's interest in Banco Ambrosiano Holding in Luxembourg...