Word: berte
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Dates: during 1990-1999
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...former banker and the author of Selling Money, a book about the international debt crisis, to become the other half of a reporting-writing team. Gwynne talked to federal regulatory agencies and banking sources in the U.S., while Beaty followed the B.C.C.I. paper trail to Atlanta, where he interviewed Bert Lance, and London, where he paid a visit to Scotland Yard. At the same time, TIME correspondents in bureaus around the world were tracking down leads in 11 countries, often going at several simultaneously. "This is by far the most exciting story I've ever worked on," says Gwynne...
Clifford and Altman are not the only U.S. connections to B.C.C.I. that the New York grand jury is looking into. Investigators suspect that wealthy Saudi businessman Ghaith Pharaon, who purchased the troubled National Bank of Georgia from President Carter's friend and onetime budget chief Bert Lance and later sold it to First American, has been a front man for Abedi. Banking regulators are probing another Pharaon holding -- Independence Bank in Encino, Calif. -- to see if Abedi or B.C.C.I. is the secret owner of that bank. And a federal grand jury in Miami is tracking Pharaon's and B.C.C.I...
B.C.C.I.'s modus operandi for gaining political influence was as simple as its banking methods were convoluted. The formula: money. Abedi found his opening wedge in the U.S. in late 1976, when he looked to Georgia, home of then President-elect Carter, and the rotund personage of Carter confidant Bert Lance. In deep financial trouble with his National Bank of Georgia and beset by regulators for past banking indiscretions, Lance was all too glad to be put on B.C.C.I.'s payroll as a $100,000-a-year consultant. Abedi declared Lance was his "unofficial ambassador . . . brought in to give...
...bank in the U.S., the nerve center of Western capitalism. After regulators rejected two B.C.C.I. bids for American banks in the 1970s -- Abedi wouldn't reveal all the information they wanted -- he helped Saudi billionaire Ghaith R. Pharaon acquire the National Bank of Georgia in 1978 from Bert Lance, President Jimmy Carter's former budget director. Soon after that, Lance helped Abedi orchestrate a raid on Financial General Bankshares of Washington. The purchasers were four Middle Eastern shareholders of B.C.C.I. The hostile bid triggered a three-year court battle in which U.S. regulators accused the buyers of acting in effect...
School officials suspended the student for two days for "violating the directions of school administrators," after he ignored warnings to avoid "verbal contact" with Hindy, said Bert Giroux, public relations officer for the school...