Word: caseys
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...week's end CIA Director William J. Casey, 68, a Reagan political crony who had appointed Hugel against strong opposition within the CIA, and with little if any White House support, was in trouble too. He was the focus of an investigation by the Senate Intelligence Committee, which is dominated by Republicans and headed by Senator Barry Goldwater. The probe also had the backing of Senate Majority Leader Howard Baker. All this was happening despite the insistence by a White House press spokesman that "the President has full confidence in Mr. Casey...
...issue was Casey's judgment in selecting the brash and arrogant Hugel, 56, for such a sensitive job. It entailed deploying CIA agents around the world, recruiting spies behind the Iron Curtain and giving the go-ahead for all covert operations. Also under study was the CIA's apparent failure to uncover allegations of serious impropriety in Hugel's business practices when the agency ran its customary background check. One main objective of the screening process is to find out if a prospective CIA official could in any way be blackmailed-and "blackmail" was precisely what Hugel...
...Beyond Casey's unfortunate choice of Hugel, whom he asserts he met when both worked in Reagan's presidential primary campaign, the director's own business ethics will be scrutinized by Senate Investigators. They came under question in a civil suit filed against him in 1974 by investors who had lost heavily when a New Orleans-based agricultural firm of which Casey was a director went bankrupt. Casey had disclosed the existence of the lawsuit on a routine form sent to the Senate Intelligence Committee after his confirmation hearings last January, but the committee did not question...
...Casey last week refused to discuss his problems over past business practices. The lawsuit involved an agribusiness firm named Multiponics, which was set up in 1968 to acquire land owned by the company's founders and to operate it jointly in farming and related ventures. Casey was a director and one of the founders, in vesting $145,614 in the company, which also assumed a mortgage debt on his land of $301,000. The company tried to raise money by issuing stock privately...
...been assumed by the firm. The circular also said that the company owned seven operating farms, while the judge determined that two were not in operation, one was operating at a loss and two were operated by sharecroppers rather than by the experienced managers mentioned in the circular. While Casey's lawyer last week contended that Casey had been a "passive investor" who relied on others to prepare the stock circular, Judge Stewart noted that Casey and the other directors had attended a meeting at which copies of the offering "were distributed and fully discussed...