Word: fraude
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...scandal at the Bank of Credit & Commerce International broke last spring, the Justice Department has been taking heat for its less than dynamic prosecution. But last week the department indicted B.C.C.I. and three bank officials, charging them with illegally taking over Independence Bank of Encino, Calif., and with fraud 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...
...FRAUD AND ABUSE...
...years. Unfettered critical media have replaced the "crony press." She is no longer the wife of an all-powerful President, and is possibly a criminal to boot -- as she was reminded last week when she appeared in the Quezon City courthouse to post bail and undergo fingerprinting on tax fraud charges. Some unexpected events could also hurt an Imelda candidacy. The devastating typhoon that struck her native province of Leyte last week has triggered widespread anxiety about the country's dynastic political system among the superstitious masses. People say that the two widows are responsible for all the natural disasters...
...beef up the 1974 Privacy Act, the federal law that defends citizens from government misuse of data. Enforcement is haphazard, and loopholes permit agencies to stretch the law. Though the act would appear to forbid it, agencies exchange information on individual citizens in the name of detecting waste, fraud and abuse of benefits. They claim that such exchanges are legal on the ground that the disclosures are "compatible" with the purpose for which the data were collected. Under that loose standard, tax returns are compared with welfare rolls or lists of student-loan recipients. That might seem justifiable...
Luxury living is hard to kick. Arizona financier CHARLES KEATING has been pleading poverty in the wake of the massive failure of his Lincoln Savings and Loan. But while standing trial on 20 criminal-fraud charges in Los Angeles, he is ensconced in palatial quarters in the Checkers Hotel, a hideaway notable more for its antiques and luxurious spa facilities than for its low, low price. Keating's lawyer says his client is paying just half the usual $225 daily rate. Besides, the hotel is near the courthouse. So is the Best Western...