Word: pleas
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...guilty plea, hammered out during four months of intense negotiations among banking authorities and prosecutors in Washington, London and Luxembourg, was designed in part to impose some order on the worldwide scramble to lay claims to B.C.C.I.'s remaining assets. So far, auditors have found only $1.5 billion in the coffers of a bank that once held $22 billion in deposits. "We felt we could duke it out for years, or we could accommodate each other. I think we found a fair arrangement," says George Terwilliger, the acting Deputy U.S. Attorney General...
B.C.C.I.'s corporate guilty plea will not slow down the pending indictments of individuals connected to the bank. The investigation has speeded up now that cooperation has improved between federal officials, led by U.S. Attorney General William Barr, and state prosecutors in New York, led by Manhattan district attorney Robert Morgenthau. For months Morgenthau's unprecedented worldwide probe had been running rings around the foot-dragging Justice investigation. Plenty remains to be uncovered. A grand jury in Manhattan is looking into the roles played in B.C.C.I.'s schemes by First American's ex- chairman, former Defense Secretary Clark Clifford...
While the surprising guilty plea last week settled many issues, it may have been only a curtain raiser for new disclosures on how the corrupt bank really operated...
...plea to ignore those who say you're not happy...
...Washington-based First American Bankshares, said Mazur, who testified behind a frosted-glass partition and spoke into a voice-altering microphone to protect his identity. "We needed a & lot more help than we had," said Mazur, who blamed the lapse on a dire shortage of staff and overly generous plea bargaining...