Word: secords
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...long-awaited 23-count indictment, which also named retired Air Force Maj. Gen. Richard V. Secord and his business partner. Albert Hakim, said the four men "deceitfully and without legal authorization" organized, directed and concealed "a program to continue funding of and logistical and other support for military and paramilitary operations in Nicaragua by the Contras" at a time U.S. law barred such action...
...indictment charged that proceeds from the $30 million worth of U.S. arms sales to Iran were diverted illegally to foreign bank accounts controlled by Secord and Hakim for their personal financial gain...
Hakim and Secord also were charged with conspiring to pay illegal gratuities to North by arranging the installation of a security system at the Marine officer's home and by creating a $200,000 fund for his family in a Swiss bank...
...Secord, appearing on ABC-TV's "Nightline" program called the indictments "crazy. There's going to be no plea. We're going to defend this case successfully, and I think the IC [independent counsel] is going to be looking very silly very soon...
...Secord and Hakim benefited more from the arms sales than the contras did, according to the report. Of the $16 million in Iran arms profits, the contras received just $3.8 million. Secord, who testified that he sold weapons to the contras with a profit markup of 20%, actually took profits that averaged 38% and sometimes reached 56%. When Contra Leader Adolfo Calero discovered he could buy weapons far more cheaply through a European arms dealer, North made sure that none of the Iran arms proceeds went directly to Calero. Instead they went to Secord, who continued to sell to Calero...