Word: panama
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Dates: during 1990-1999
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...stunning audit showed serious banking irregularities and criminal acts involving senior B.C.C.I. executives, trustees and bank directors that have been hushed up. The audit traced insider loans, with funds parked in Bahrain and Panama, and "drawdowns not supported by requests from the customers," which is accounting jargon for money moved out of accounts without documentation of any kind. Bank officials familiar with the audit and other internal B.C.C.I. documents reviewed by TIME confirm the Price Waterhouse findings...
Proksch, 56, the owner of Demel, the famous Vienna pastry shop, had been accused of engineering a bold scheme in which he loaded the 12,000-ton Panama- registered Lucona with scrap metal, insured the cargo for $18.5 million as "nuclear processing equipment," then had the ship blown up after it set sail from Italy. Six people died when the vessel sank off the Maldive Islands in January...
Other evidence would have proved equally explosive. An executive named Amjad Awan, who managed the bank's Panama office and was Noriega's personal banker, described the extent of B.C.C.I.'s empire in a recorded conversation with an undercover agent. "We own a bank in Washington," Awan told the agent. "It's called the First American Bank. There are six banks bought out by B.C.C.I. about eight years ago. B.C.C.I. was acting as adviser to them, but the truth of the matter is that the bank belongs to B.C.C.I. Those guys are just nominee shareholders...
This false everywhere-nowhere dichotomy is the moral pillar of American isolationism. Wherever the American banner has been raised in the past decade -- Grenada, Panama, Nicaragua and now the Persian Gulf -- isolationists have demanded to know, How can we in good conscience oppose bad guys there and not land Marines in Port-au-Prince or Cape Town...
Despite their differences in religion, national allegiance, and military strategy, Hussein and Bush are more alike than we might be led to believe. Hussein has invaded another state (Kuwait), waged war against another country (Iran), and brandishes a reprehensible weapon (chemical warheads). Bush has also invaded another state (Panama), waged war against another country (Nicaragua), and totes an equally menacing chemical weapon (nuclear warheads). The point is that if you are on the receiving end of any one of these demonic policies, it makes very little difference whether the imperial "Satan" or the "Butcher of Baghdad" is at "command...