Word: nauru
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Dates: during 1970-1979
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...stuffed with cash from the Fidelity offices. Before his elimination, Underbill deposited large sums of money in a Bahamian bank account. Thevis then borrowed money from the bank. An attorney placed shares of AT&T worth $297,000 in a trust in Thevis' name at a bank on Nauru Island, a tax haven in the South Pacific. The stock was then sold on the Hong Kong exchange, and the cash was deposited in Barclays Bank in Hong Kong...
...conference generally breaks down into two wary camps. On the one side there are the 120 developing countries, ranging in size from China (pop. 800 million) to the South Pacific island state of Nauru (pop. 6,500). They see Caracas as a grand divvying up of the oceans' wealth: a "unique opportunity," as C.R. Pinto of Sri Lanka (formerly Ceylon) puts it, "to augment their meager national resources with none of the unpleasant connotations of 'economic aid.' " They argue that the law Grotius wrote in a maritime era gives an unfair advantage to developed nations...