Word: lavoro
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Dates: during 1990-1999
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...heart of the scandal stands the outfit that financed a large portion of it: the Atlanta branch of Italy's Banca Nazionale del Lavoro, which extended $5.5 billion in loans to finance Saddam's military procurement network in the U.S. Critics charge that the Bush Administration, which was eager to support Iraq as a counterweight to Iran, and was even more eager to assure itself access to oil at cheap prices, turned a blind eye to BNL's activities and allowed missile and nuclear technology that helped Iraq's missile and nuclear development to slip out of the country...
...Justice Department has been accused of dubious behavior in its investigation of the Banca Nazionale del Lavoro, an Italian institution whose Atlanta branch made $4 billion in fraudulent loans to firms owned by or doing business with Iraq. Justice investigators are charged not just with botching their probe into B.N.L.'s transgressions but also with ignoring evidence that B.N.L.'s Atlanta branch manager, Christopher Drogoul, was not solely responsible for the questionable loans. A 163-page Senate Intelligence Committee report issued last week on the affair suggests, however, that most of the Justice Department lapses were due to "bureaucratic bungling...
...Cover-Up? Bush critics dub the most controversial parts of prewar Iraq policy "Iraqgate": claims, still unproved, that the Administration has tried to hide the full extent of its tilt toward Iraq by interfering with the prosecution of the Atlanta branch of Italy's Banca Nazionale del Lavoro, which extended more than $4 billion in illegal loans that helped finance Baghdad's purchase of equipment with potential military applications. Officials at the Departments of State, Commerce, Defense and Energy who monitored "dual use" & sales, which amounted to $500 million between 1985 and 1990, knew they were helping Saddam's military...
...appointment of a special prosecutor to investigate the allegations. In a defensive counterstrike, Attorney General William P. Barr announced that he had asked retired federal Judge Frederick B. Lacey of New Jersey to investigate the Justice Department's handling of the case against an Italian bank, Banca Nazionale del Lavoro, whose Atlanta branch provided $4 billion in illegal loans and loan guarantees to Iraq. In the meantime the CIA continues to turn over new files, including one report that U.S. and Italian officials had accepted bribes in the B.N.L. case...
...TIMING COULD NOT HAVE BEEN WORSE FOR THE Bush campaign. The Senate Intelligence Committee is burrowing into the possibility that the CIA and the Justice Department collaborated to mislead prosecutors looking into the Banca Nazionale del Lavoro's illicit loans to Iraq. Blaming an "honest mistake," CIA officials have conceded responsibility for a Sept. 17 letter that failed to advise prosecutors and a federal judge that the agency possessed a cache of classified cables relating to the case. Late last week, according to the New York Times and the Washington Post, CIA officials testified in closed hearings that a senior...