Word: heimann
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Also on that eventful Friday, Treasury Secretary Michael Blumenthal called at the White House with more bad news: the outlines of a new report by Comptroller of the Currency John Heimann. In his earlier report, Heimann criticized Lance's banking practices but found that they did not warrant prosecution...
...report, Heimann found that on numerous occasions Lance may have used an airplane owned by the National Bank of Georgia for both personal and political purposes from 1975 to 1977. The comptroller considered this matter serious enough to refer to the Justice Department for possible prosecution. Political use of the plane could be viewed as a corporate campaign donation and thus a violation of federal election laws. Personal use of the plane, if written off as a business expense and deducted from income taxes, could be a tax crime...
...Heimann had also found a new, clear-cut instance of Lance's highly dubious practice of drawing large personal loans from banks with which his own bank had established correspondent relationships. The comptroller's report showed that Lance and his wife LaBelle got nearly 20 loans totaling close to $4 million from Georgia's Fulton National Bank between 1963 and 1975?much of the time when Lance headed the Calhoun First National Bank. In numerous documents related to these loans, the Fulton bank noted that "satisfactory balances are maintained by Calhoun National Bank," implying a direct connection between the loans...
Certainly, Carter's handling of the Lance affair is of far greater importance to the nation than Lance's future. When Comptroller of the Currency John Heimann concluded his inquiry into Lance's conduct as a Georgia banker with the verdict that Bert had done nothing that warranted prosecution, Carter pounced on the report as if it were a clean bill of health. It was not, yet the President made a point of whipping down from Camp David aboard a helicopter and proclaiming before a nationwide TV audience, "Bert, I'm proud...
...into a true investigative unit, with Ribicoffs approval. Proffessional investigators have been borrowed from the Senate's Permanent Subcommittee on Investigations, and eight to ten staff members have been boning up on every relevant document in the Lance affair. For the first witness, the committee will call Comptroller Heimann. Lance himself is tentatively scheduled to testify the next...