Word: coverting
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...Director William Webster ordered a full-scale review of any agency ties to the bank following reports in TIME and other media that the agency had kept secret accounts at B.C.C.I. to finance covert aid to U.S.-backed insurgents in Nicaragua and Afghanistan. The scandal may further jeopardize President Bush's nomination of Robert Gates to head the CIA. Last week former Customs commissioner William von Raab named Gates, then deputy director of the CIA, as the source of a five- or six-page 1988 agency report on B.C.C.I., which Gates labeled "the bank of crooks and criminals." That raised...
...ties between B.C.C.I. and the intelligence agencies of several countries are so pervasive that even the White House has become entangled. As TIME reported earlier this month, the National Security Council used B.C.C.I. to funnel money for the Iran-contra deals, and the CIA maintained accounts in B.C.C.I. for covert operations. Moreover, investigators have told TIME that the Defense Intelligence Agency has maintained a slush-fund account with B.C.C.I., apparently to pay for clandestine activities...
...National Congress has repeatedly accused Pretoria of working hand in glove with its bitter rival in black politics, the Inkatha Freedom Party, headed by Zulu chief Mangosuthu Buthelezi. President F.W. de Klerk always denied improper favoritism, but last week he was forced to admit that the government had given covert funds to Inkatha in 1989 and '90 to organize % political rallies. A police spokesman said Buthelezi got the aid because he opposed international sanctions against South Africa...
Beyond that, the discovery of the secret intelligence-agency accounts in the renegade B.C.C.I. raises a whole new set of unsettling possibilities. The most serious is that U.S. spymasters may have been undertaking unauthorized covert operations and all the while furthering the ends of B.C.C.I. By providing clandestine services for intelligence agencies in numerous countries, B.C.C.I. was able to cloak its activities in an aura of national security and thereby stave off investigations from banking officials in the U.S. and abroad...
...colleague that B.C.C.I. was "the bank of crooks and criminals." Yet when customs agents investigated the bank in 1988, they found "numerous CIA accounts in B.C.C.I.," says former U.S. Commissioner of Customs William von Raab. Those, he says, were being used to pay agents and "apparently to support covert activities...