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...countries in corrupt money-laundering schemes and acted like a government unto itself. Now its criminal operations have led to the indictment of an 85-year-old man with a reputation for rectitude and a distinguished five-decade career. New York State and federal authorities have charged Clark Clifford, the patrician lawyer who has counseled every Democratic U.S. President since Harry Truman, and his partner-protege, Robert Altman, with conspiracy to defraud by helping B.C.C.I. secretly buy and control two large U.S. banks. In a parallel move, the Federal Reserve announced that it has started a civil action against...

Author: /time Magazine | Title: An Icon Falls in The B.C.C.I. Scandal | 8/10/1992 | See Source »

Simultaneous probes by the office of New York District Attorney Robert Morgenthau, the Justice Department and the Federal Reserve indicate that Clifford, as chairman of First American, and Altman, as president, acted as knowing front men for B.C.C.I. founder Agha Hasan Abedi, falsifying documents and lying to authorities. The two are also charged with using First American's 1987 purchase of National Bank of Georgia as a vehicle for transferring huge and unmerited profits to B.C.C.I., all under Abedi's direction...

Author: /time Magazine | Title: An Icon Falls in The B.C.C.I. Scandal | 8/10/1992 | See Source »

...would they do it? The civil and criminal actions suggest one answer: $32 million in cash and stock awarded to Clifford and Altman in a sweetheart transaction engineered by Abedi and concealed by the two from the Fed and even their own board of directors. The prosecutors allege the deal was a bribe, as was part of the $17 million their law firm charged as legal counsel for B.C.C.I. and First American...

Author: /time Magazine | Title: An Icon Falls in The B.C.C.I. Scandal | 8/10/1992 | See Source »

...minds are stretched and their skills enhanced when they are introduced to any foreign language. By being taught math and science in Japanese, the students unconsciously acquire the language. "Learning another language opens new pathways of connections in the brain, basically connecting new things with things you know," explains Clifford Walker, director of the Anchorage program...

Author: /time Magazine | Title: (Is That Correct?) In a handful of American schools, first-graders are discovering math and science -- in Japanese | 4/20/1992 | See Source »

...words truly be called a writer? In Terkel's case the question seems irrelevant. His books may not have the scope of literature or the authority of social science, but they do pack the wallop of theater -- particularly the declamatory, political theater of the 1930s as exemplified by Clifford Odets' Waiting for Lefty...

Author: /time Magazine | Title: Talking About the Untalkable | 3/30/1992 | See Source »

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