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...story chronicled the building of a night club in a small Peruvian town and its wild success despite the sermons of the local priest...

Author: By Julian E. Barnes, | Title: Celebration Begins With Arts | 10/18/1991 | See Source »

...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...

Author: /time Magazine | Title: Scandals: Cashing In on Blue Chips | 8/12/1991 | See Source »

...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 frequent foreign vacations on a presidential salary of just $18,000 a year...

Author: /time Magazine | Title: Corruption: Feeling the Heat | 8/5/1991 | See Source »

...black network was a natural outgrowth of B.C.C.I.'s dubious and criminal associations. The bank was in a unique position to operate an intelligence- gathering unit because it dealt with such figures as Noriega, Saddam, Marcos, Peruvian President Alan Garcia, Daniel Ortega, contra leader Adolfo Calero and arms dealers like Adnan Khashoggi. Its original purpose was to pay bribes, intimidate authorities and quash investigations. But according to a former operative, sometime in the early 1980s the black network began running its own drugs, weapons and currency deals...

Author: /time Magazine | Title: B.C.C.I.: The Dirtiest Bank of All | 7/29/1991 | See Source »

...dollars to the more traditional Indian tribes of the region without disrupting their way of life. Some of the tribes will trade elaborate traditional cloaks called kushmas, which take three months to make, for a machete or an ax -- far below what tourists would pay for the same item. Peruvian biologist Ernesto Raez fears, however, that encouraging the Indians to reorganize themselves to serve even small numbers of tourists will require profound transformations in village life. "We should not ask conservation to do the work of social change," he says...

Author: /time Magazine | Title: Taking A Guided Tour Through Eden | 6/17/1991 | See Source »

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