Word: conduit
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...titled Metaphysics of Quality or Metaphysics of Value. And this book, as Phaedrus describes it, sounds interesting: an attempt to find some middle path between scientists and mystics, between those who swear by facts alone and those who dismiss them as irrelevant. He believes there must be a direct conduit between the physical and the spiritual, and gropes toward an initial formulation: "All life is a migration of static patterns of quality toward Dynamic Quality...
...however, turned out to be alleged fronts for the notorious Bank of Credit & Commerce International, the criminal enterprise that collapsed in July with an estimated $10 billion in losses. First American's secret ownership demonstrated B.C.C.I.'s knack for infiltrating power elites even as it served as a cash conduit for terrorists, gunrunners and drug thugs...
NUKES FOR PAKISTAN? Even as it served as a cash conduit for terrorists, money launderers and gunrunners, B.C.C.I. may have financed the illicit development of nuclear weapons programs. The U.S. last week pressed efforts to extradite Inam ul-Haq, a retired Pakistani brigadier, on charges that he masterminded an abortive 1987 plot to smuggle to Pakistan an American speciality steel used to enrich weapons-grade uranium. B.C.C.I reportedly provided credit for the deal. But Pakistan, home of B.C.C.I. founder Agha Hasan Abedi, denied -- as it has in the past -- that it seeks to develop nuclear arms, and said the government...
...biggest and most brazen financial scandal of all time. Speaking in blunt terms that brought gasps from the packed chamber, they charged what TIME and other media reported in July: the criminal enterprise known as the Bank of Credit & Commerce International thrived as a $20 billion worldwide cash conduit for thugs ranging from terrorists to narcotraficantes, while Washington and other capitals turned a blind eye. "This is a story of big-time, big-money con artists," said Massachusetts Democrat John Kerry, chairman of the Senate Foreign Relations subcommittee that held the two-day hearings. "It's a story of international...
...more B.C.C.I. became a conduit for such money, the more deposit gathering became the bank's chief goal. At annual meetings, founder Abedi would harangue his employees for days on the importance of luring deposits. That was probably because billions of dollars were vanishing. At the highest levels, B.C.C.I. officials whisked deposits into secret accounts in the Cayman Islands. These accounts constituted a hidden bank within B.C.C.I., known only to founder Abedi and a few others. From those accounts, B.C.C.I. would lend massive amounts to curry favor with governments -- as in its $1 billion loan to Nigeria...