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North was also accused of conspiring to defraud the Internal Revenue Service by using the tax-exempt National Endowment for the Preservation of Liberty to solicit $3.2 million in contributions, which he used to buy lethal contra aid. NEPL President Carl ("Spitz") Channell and Public Relations Consultant Richard Miller pleaded guilty to the same charges last spring, and presumably will testify against North. On all the charges, North faces a possible sentence of 85 years in prison and a staggering $4 million in fines...

Author: /time Magazine | Title: Conspiracy, Fraud, Theft and Cover-Up: Iranscam Indictment by Walsh | 3/28/1988 | See Source »

...defendants have their way, the Iran-contra case will never come to trial. Defense attorneys will try to undermine Walsh's investigation from two angles. In January a federal appeals court ruled that the law authorizing independent counsels is unconstitutional. Walsh is protected by a backup appointment from Attorney General Edwin Meese. But the three months' worth of evidence that Walsh gathered before Meese's appointment could be ruled inadmissible if the Supreme Court strikes down the independent-counsel...

Author: /time Magazine | Title: Conspiracy, Fraud, Theft and Cover-Up: Iranscam Indictment by Walsh | 3/28/1988 | See Source »

DESCRIPTION: Summary of charges against Iran-contra suspects Oliver North, John Poindexter, Richard Secord and Albert Hakim; color illustrations: map of Iran backed by missiles; three men in see-no-evil, speak-no-evil, hear-no- evil pose stand at papershredder; three men holding dollar sign...

Author: /time Magazine | Title: Conspiracy, Fraud, Theft and Cover-Up: Iranscam Indictment by Walsh | 3/28/1988 | See Source »

Classical tragedy demands a unity of time, place and action, a drama that unfolds in a day. In Washington last Wednesday, Ronald Reagan's flawed Iran- contra policy came close to just such a singular confluence. Independent Counsel Lawrence Walsh announced his long-awaited criminal indictments of two of the President's former National Security Council staff members and their accomplices for diverting Iran arms profits to the Nicaraguan contras. Less than four hours later, the President ordered 3,200 troops into Honduras as a show of resolve against Nicaragua's Sandinistas, who once again had crossed the Honduran border...

Author: /time Magazine | Title: The Contra Tangle | 3/28/1988 | See Source »

...needed any further hallmarks, several hundred people gathered at a church service in Georgetown to remember American Hostage Terry Anderson, 40, on the third anniversary of his kidnaping in West Beirut, a poignant reminder of the frustrations that underlay one leg of the Iran-contra affair...

Author: /time Magazine | Title: The Contra Tangle | 3/28/1988 | See Source »

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