Word: swiss
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Dates: during 1990-1999
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...Kahn lawsuit, and he recited a litany of business dealings in which, he said, Bresky had interests in companies that profited from inflated contracts with Seaboard Corp. According to his deposition, kickbacks were paid to officials in foreign governments; contracts were padded, with the excess money diverted to Swiss bank accounts; management fees were inflated; brokerage commissions ran 2 1/2 to five times the usual rate. And in the case of one Seaboard subsidiary, "there was a great deal of cash that was...unaccounted...
...then, in September of that year, in what a deputy of Giuliani's called a "shameless raid," Connecticut lured Swiss Bank Corp. from Manhattan to suburban Stamford with $120 million worth of incentives...
First, Annan sent a letter that offered Saddam not just an out but a win: a nice reward--broad hints of accelerating the move to lift the economic embargo of Iraq--if Saddam would just act nice. Saddam responded with his "Swiss cheese" letter, a disingenuous, heavily hedged show of compliance with U.N. demands that was, in fact, a prescription for more Iraqi "cheat and retreat" on weapons inspections. Nonetheless, the very transmittal of that letter, as yet unparsed, was enough to prompt President Clinton to recall his bombers in midflight...
...appears that the investigation into unclaimed bank accounts of Holocaust victims may cost the Swiss banking establishment a billion-plus francs (say $800 million)--perhaps more than the total value of the original deposits. The international investigating commission under PAUL VOLCKER, former chief of the Fed, says it needs until June 1999 to finish its work. The Volcker Commission has 500 chartered accountants combing through tons of archives at 63 banks, and those sleuths don't come cheap. The bankers are livid about the expense and time; some of the smaller banks are threatening to throw out the commission...
...YORK: They've already bought up Random House, Chrysler and even Rolls Royce this year. And now the world's biggest bank is no longer American or Swiss but German, following the announcement Monday that Deutsche Bank AG would officially gobble up BankersTrust for $10.1 billion. Is Germany trying to take over the world? TIME Brussels bureau chief James Graff says the country still has a lot of catching...