Word: cayman
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Dates: during 1980-1989
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WASHINGTON--The Senate Intelligence Committee has traced Iranian arms sales profits, apparently intended for Nicaragua's Contra rebels, to a secret Cayman Islands bank account, the panel's chairman said yesterday...
...Iran-Contra money connection, Boren said: "We take it one more step, the Cayman Islands account. The creation of that, of course, is tied to the ultimate beneficiary being in some way the Contras. But in terms of showing the final trail in terms that absolutely nail down the fact that they received the funds...
...past the Contras have used Cayman Island bank accounts--protected by bank secrecy laws in that small island nation--for transfers of funds to pay for military operations in their war against the leftist Sandinista government in Managua...
Starting in 1979 with a $70,000 deposit at Credit Suisse Ltd. in the Bahamas, Wilkis conducted some 50 trades using inside information, according to the Government. Along the way, he transferred assets to other banks in the Cayman Islands, controlling the money through still more institutions in Liberia and the Bahamas and using the code name Mr. Blake. Later, under the name of Alan Darby, Wilkis talked with Levine, who called himself Mike Schwartz, about various insider-trading opportunities. Sokolow, who did not know Wilkis, began in 1981 to supply Levine with information about the pending actions of Shearson...
...details of Levine's illegal trades. After learning about the SEC investigation, Levine ordered Meier to get rid of his passport and other documents at the Bahamian bank. On May 9, SEC officials say, Levine tried to transfer $10 million from the Bahamas to a bank account in the Cayman Islands. At that point SEC officials froze Levine's accounts and, along with U.S. Attorney Rudolph Giuliani, filed charges against him in Manhattan. Said the SEC's Lynch: "It demonstrates that people who think they can violate federal securities laws by using foreign accounts are mistaken...