Word: swiss
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...single issue in the Iranscam mess could still cause irreparable harm to the Reagan presidency, it is the purportedly illegal diversion of funds from Iranian arms sales to the Nicaraguan contra rebels. Ronald Reagan has denied any knowledge of the labyrinthine transfer, via Swiss bank accounts, of at least $23 million to the contras. The President repeated his denial during last week's televised speech, and the Tower commission discovered nothing that directly contradicted his assertion...
Another probable source of contra money was cited by the Washington Post, which reported that it had obtained documents showing that more than $1.7 million from a foundation set up by Carl Channell, a conservative fund raiser, was sent indirectly to a Swiss bank account known as Lake Resources. North had used the same account to receive some of the proceeds from the Iran arms sales and reportedly to help fund the contras. Still, Calero insisted, his organization never got any money from Iranian arms deals. Said he: "I wish we had. We're $2 million in debt...
...simultaneously conducted a tense and frustrating series of arms-hostages negotiations with Iran and coordinated a supply line for the contras in Nicaragua. Like the ringleader of a vast, secret circus, North masterminded an elaborate network of boats and planes, along with not-for-profit corporations and Swiss bank accounts to help the U.S. sell weapons to Iran, as well as supply the contras with money and guns...
Though no one has precisely traced the money, North was fired for diverting profits from the iran arms deals to the contras through Swiss bank accounts, with John Poindexter's knowledge. by October, nearly two months before Meese revealed the diversion publicly, the CIA's Casey and Gates had indications it was taking place...
...Erria is now in the Danish port of Korsor, her holds empty and hatches battened. A Danish firm engaged by Hakim to operate the ship has reportedly sued for $200,000. With his Swiss bank accounts frozen, Hakim is unlikely to settle soon. Meanwhile, the Erria is up for sale...