Word: shams
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...testimony was prompted by the discovery last month in the Clinton residence of Rose law firm billing records that had been missing under subpoena for 18 months. The documents show the firm did some 60 hours of work on the Castle Grande land transaction that regulators say was a sham deal for the failed Madison Guaranty savings and loan at the center of the Whitewater controversy. In testimony before federal regulators two years ago, Hubbell did not mention that Rose lawyers, including Mrs. Clinton, had done work on the deal. Relying on evidence then available, federal regulators cleared...
...investigators that she does not recall working on the transaction. According to the billings, Mrs. Clinton met repeatedly with Seth Ward, the father-in-law of Webster Hubbell, former Associate Attorney General now serving time in federal prison for bilking the Rose Law Firm. Ward, say investigators, was a sham purchaser of the 1,000-plus-acre plot south of Little Rock because the only security Madison required for the loan was the land itself. A computer printout among the billings reveals that Mrs. Clinton drafted an option agreement for Ward to sell part of the project back to Madison...
...capital has been saturated with security forces to ensure that Algeria's sham elections come off smoothly," TIME's Lara Marlowe reports, where armed guards are patrolling the streets hoping to ensure that presidential polling goes off without a hitch on today. It won't be easy. "Algerian diplomats admit openly that the purpose of the election is to give legitimacy to the government," says Marlowe. "But how much credibility can the poll have when the main opposition, the fundamentalist Islamic Salvation Front (FIS) is not allowed to participate and its leaders are in prison? The election already resembles...
...capital has been saturated with security forces to ensure that Algeria's sham elections come off smoothly," TIME's Lara Marlowe reports, where armed guards are patrolling the streets hoping to ensure that presidential polling goes off without a hitch on Thursday. It won't be easy. "Algerian diplomats admit openly that the purpose of the election is to give legitimacy to the government," says Marlowe. "But how much credibility can the poll have when the main opposition, the fundamentalist Islamic Salvation Front (FIS) is not allowed to participate and its leaders are in prison? The election already resembles...
DURING HIS TENURE AT CHAUMET, Lefevre says, he uncovered many questionable accounting practices--an observation shared by another former executive. For example, Lefevre discovered that in 1990 Chaumet had sold about $4 million worth of jewelry to a customer in the gulf. The supposed sale, says Lefevre, was a sham. He claims that they "sent worthless merchandise" and that the bill was not paid. But the existence of the invoice made it possible to book $4 million in extra revenue for that year, enabling Chaumet nearly to break even. (Investcorp insists Chaumet never engaged in such practices...