Word: dhabi
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...more money is needed to compensate victims worldwide, so authorities are seeking a much bigger bailout. Their intended source: the ruler of Abu Dhabi, Sheik Zayed bin Sultan al-Nahayan, who is now the major shareholder in B.C.C.I. For months banking authorities and liquidators have tried to talk Zayed into donating billions of dollars to cushion the losses of depositors around the world so they might recoup 30% to 40% instead of the 10% now expected. B.C.C.I.'s agreement with the U.S. may pave the way for that bailout...
...that contributed to the billion-dollar downfall of Florida's CenTrust thrift. Indicted with the bank were founder Agha Hasan Abedi, former bank president Swaleh Naqvi and B.C.C.I. front man Ghaith Pharaon. Since the U.S. stands little chance of extraditing Abedi from Pakistan and Naqvi faces charges in Abu Dhabi, Pharaon's indictment may be the most productive of the three. The Saudi national is believed to be holed up in Europe or Latin America...
...Recently B.C.C.I. brokered the sale of OF-40 Mark 2 main battle tanks -- also to Abu Dhabi -- from Italian arms manufacturer Oto Melara. B.C.C.I. later obtained and financed a dozen S-23 180-mm artillery guns from North Korea for Dubai...
...other claims that have been contested by the Justice Department, another well-placed source confirms that Asaf Ali is backed financially by B.C.C.I. in his worldwide deals and that he brokers Mirages, including some top-of-the-line Mirage 2000s that were sold to Iraq, Libya and Abu Dhabi, among other countries...
...meantime, B.C.C.I. is even now brokering an arms deal to Abu Dhabi, involving the sale of 45 South African G-6 mobile artillery pieces. If B.C.C.I. can hold it together, sources say, Abu Dhabi may buy as many as 55 more of the same pieces...