Word: panama
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...Sofaer argued that prosecuting the Marcoses would make it more difficult to offer protective deals to other foreign leaders who have been helpful to the U.S. Earlier this year, the Reagan Administration offered to drop two federal drug indictments brought against Manuel Noriega in Florida if he would leave Panama. Now, says a Noriega confidant, the drug-running general "is telling everybody that this shows he was smart...
Dukakis opposes aid to the rebels in Nicaragua, and has denounced the Reagan Administration's Central American policy as a "fiasco." Dukakis advocates a multilateral approach, joining Central American leaders, to resolve the region's conflicts. He has also been critical of the Reagan Administration's relationship with Panama Gen. Manuel Antonio Noriega...
Besides the alleged laundering services described in the indictments, BCCI has been accused of handling secret accounts for such clients as Panama's allegedly drug-dealing dictator General Manuel Noriega and Saudi financier Adnan Khashoggi. According to congressional testimony made public last week, Amjad Awan, a former BCCI officer arrested at the phony stag party, told a Senate subcommittee last month that he had made political payoffs for Noriega out of a BCCI account. In 1986 Khashoggi transferred $12 million from a BCCI account in Monte Carlo to an arms dealer to help purchase weapons used in the Iran-contra...
...Moro had introduced the agents to a Panamanian branch of BCCI for their laundering operation. The agents collected cash from Medellin dealers in the U.S. and deposited it at domestic banks, then wired the money to the account of a newly created shell corporation in the BCCI branch in Panama. The agents then provided the Colombian traffickers with signed blank checks that could be cashed at most banks...
...method was introduced. BCCI allegedly began to wire drug money deposited in its branches to accounts in foreign banks, using major New York City institutions as unwitting intermediaries. Once the funds were overseas, BCCI allegedly used them to buy certificates of deposit at banks in France, Britain, Luxembourg, Uruguay, Panama and the Bahamas. Using the CDs as collateral, BCCI then issued phony loans for slightly smaller amounts to the agents' Panamanian account. Once again, the agents gave the Colombians signed blank checks drawn against the account. BCCI collected the CDs as "payment" for the loans, pocketing the difference...