Word: lavoro
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...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...
...trial will also open a Pandora's box of allegations by the former Atlanta branch manager of the Italian Banca Nazionale del Lavoro and his attorney Bobby Lee Cook. They say that senior B.N.L. officials in Rome not only approved the loans to Iraq but that the U.S. and Italian governments were aware of the transactions. As proof, Drogoul and Cook introduced what they claim is an internal bank document written in Italian and slipped under Cook's hotel room door last week. The document is an executive summary of meetings between bank executives, Italian government officials and representatives...
...case was all but closed. In June, Drogoul, 43, former manager of the Atlanta branch of the Italian Banca Nazionale del Lavoro, pleaded guilty to 60 counts of a 347-count federal indictment that accused him of devising an elaborate "off-books" scheme to hide $4 billion in unbacked loans and unauthorized U.S.-backed credits to Iraq. But on the eve of a sentencing hearing that could condemn him to 390 years in prison, Drogoul replaced his public defender with the wily Cook, who moved to vacate the guilty plea...
While at Kissinger Associates, Eagleburger served on the board of the Yugoslav-owned LBS Bank, which was convicted of money laundering in 1988. About one-quarter of its business came from Banca Nazionale del Lavoro, whose Atlanta branch was instrumental in diverting U.S. agricultural loans to arms purchases by Saddam Hussein. Eagleburger has never been accused of any wrongdoing or even any knowledge of the banks' illegal practices, but Congressman Henry Gonzalez continues to pursue the theory that high officials in the Bush Administration have tried to cover up these activities. In addition, critics charge that Eagleburger's former financial...