Word: hasan
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DIED. AGHA HASAN ABEDI, 73, founder of the Bank of Credit & Commerce International; of heart failure; in Karachi, Pakistan. Allegations of criminality brought down the once-powerful B.C.C.I. in 1991. Subsequently, Abedi, accused of perpetrating the largest financial fraud in history, was indicted for theft and other charges in the U.S., but Pakistan refused to extradite...
...command Swaleh Naqvi was sentenced to eight years in the slammer and ordered to pay $255 million in restitution in connection with federal charges stemming from the biggest bank fraud ever. Naqvi now faces trial in New York Friday on state charges. But Naqvi's boss, B.C.C.I. founder Agha Hasan Abedi, is currently in Pakistan and unlikely to be brought to justice, says TIME correspondent S.C. Gwynne, who covered the scandal. Naqvi has pleaded indigence and probably won't pay the fines levied against him. Still, today's development is a significant victory for the feds. "Naqvi was the main...
...Bank of Credit and Commerce International (B.C.C.I.) scandal. But the bank's two senior officers, who handled huge sums of the emir's fortune until investigators closed the fraudulent operation in 1991, weren't present to help pay up. One of them, 71-year-old founder Aga Hasan Abedi, is now ensconced in his native Pakistan, on good terms with local officials and unlikely to face extradition. "He's the mastermind, and he's sitting up there in Karachi," says TIME correspondent S.C. Gwynne, who has investigated the scandal. "It appears that the Abu Dhabians believe that $9 billion...
...Kemal Unluer, a municipal , official in Trabzon (pop. 160,000). A night with "Natasha" can cost $150, so the gold chains once common around the necks of Black Sea men are disappearing. "I love these Natashas," sighs a customs officer on the Georgia border. "God measured and created them." Hasan D., a Trabzon hotel worker, explains, "Married men do not want to practice what they see in porno movies with their wives. But they can with Natashas." As for the Natashas, Irina, a Russian art-history graduate, put it bluntly: "We are milking the Turks for all they are worth...
...first we were getting Ali Binazir's gradereports," said Hasan. "I don't know how Mr.Binazir could think [Shah] was impersonating...