Word: kamal
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Dates: during 1990-1999
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...breadth and scope to the image of B.C.C.I. as a huge criminal enterprise that corrupted bank officers, government officials and journalists. Criminal counts against the bank, shut down by regulators last July, included specific allegations that B.C.C.I. bribed government and banking officials in 10 countries. A B.C.C.I. director, Sheik Kamal Adham, last week became the second prominent Saudi to be caught up in the scandal; last month Sheik Khalid bin Mahfouz, head of the largest commercial bank in Saudi Arabia, was indicted in New York. (See related story on page...
...There he and his younger partner Robert Altman faced charges that they took millions in bribes to act as front men for the notorious Bank of Credit & Commerce International. But even more significant may be a legal move related to the grand jury indictments of last week: Saudi Sheik Kamal Adham, the longtime head of Saudi Arabian intelligence and one of the most powerful men in the Middle East, entered a guilty plea to charges that he conspired to help B.C.C.I. secretly purchase control of First American, the bank that Clifford and Altman headed. Adham, a key director of both...
...nations will need to contribute annually to protect natural resources and clean up pollution. (The developing countries, he says, would have to put up an additional $500 billion a year.) To put that in context, the annual U.S. defense budget is $290 billion. "The bottom line is money," says Kamal Nath, India's Minister of Environment and Forests. "If the West does not give funds, the Earth Summit will die a natural death...
...Rogers last week had to kiss that serenity -- and a $600,000 two-year contract -- goodbye. The wealthy client: Sheik Kamal Adham, the former director of Saudi intelligence and a key figure in the Bank of Credit & Commerce International scandal. According to the U.S. Federal Reserve Bank, the well-connected Adham was a B.C.C.I. front man for the illegal purchase of Washington's First American Bank and B.C.C.I.'s main contact with Clark Clifford, the chairman of First American. Adham also received more than $300 million in B.C.C.I. loans, according to bank documents...
...Price Waterhouse, covertly acquired the stock of First American, code-named WXYZ in the report, through "prominent Middle Eastern individuals" who thus were merely nominal -- or "nominee" -- owners. B.C.C.I. then used First American shares as collateral for sham loans that produced phony income. Clifford, meanwhile, regularly briefed Abedi and Kamal Adham, a major B.C.C.I. shareholder from Saudi Arabia, on First American's operations. Clifford said the meetings were needed to keep B.C.C.I., as adviser to the Arab owners of First American, informed about the U.S. firm...