Word: panama
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Dates: during 1990-1999
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...Peru launched a government-wide probe of charges that B.C.C.I. gave two central-bank officers $3 million in bribes in return for their depositing $200 million of Peruvian funds in secret B.C.C.I. accounts in Panama. Officials denied the allegations, which were part of the Manhattan indictment against B.C.C.I. But they said they had deposited money with B.C.C.I. because threats by former President Alan Garcia Perez to reduce Peru's foreign-debt payments had scared off other banks. At the same time, a Peruvian representative to the World Bank who once worked for B.C.C.I. quit his post...
...members of Washington's power elite have frequently gone to bat for B.C.C.I. Jack Blum, the former chief investigator for Kerry's subcommittee, stunned the hearing last week by declaring that Altman and Clifford advised Amjad Awan, a B.C.C.I. official who had run the bank's Panama office, to flee the U.S. for Paris in 1988 to avoid a congressional subpoena. Altman, a fast-rising star in Washington legal and social circles, then reportedly arranged for B.C.C.I. to transfer Awan to Paris. But Carl Rauh, an attorney for Clifford and Altman, denied the account as "completely false." Pronounced Rauh...
Repercussions from the bank's collapse rippled far beyond Washington and London. In Peru the scandal reinvigorated charges that Garcia, President of the country from 1985 to 1990, had plundered the treasury by whisking funds through a B.C.C.I. branch in Panama. Garcia has called the allegations a political smear to keep him from running again in 1995. But Fernando Olivera, a member of the Peruvian Congress who has been Garcia's nemesis, demanded last week that prosecutors try the allegations in court. Among other things, investigators want to know how Garcia managed to acquire two fashionable Lima homes and take...
...Panama, according to a little-known racketeering suit that the country brought against B.C.C.I., the bank systematically helped Noriega loot the national treasury. B.C.C.I. allowed the leader to open secret offshore accounts under the names of the Panamanian National Guard, the Panamanian Defense Forces and the Panamanian Treasury, to transfer national funds into those accounts and then to tap the funds himself...
...most mysterious events in the case, B.C.C.I. bank records from Panama City relating to Noriega "disappeared" in transit to Washington while under guard by the Drug Enforcement Administration. After an internal investigation, the DEA said it had no idea what had happened to the documents...