Word: wallachs
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Independent Counsel James McKay will soon issue his report on Meese's messy finances and unseemly concern for the friends of his friend, indicted Attorney E. Robert Wallach. McKay has already said he will not recommend indictments. But the report may demonstrate ethical insensitivities on Meese's part that will send the capital into another righteous convulsion. Virtually no Cabinet officer in memory has survived such trauma. The damage to Reagan's legacy, to the Republican Party and to Vice President George Bush's troubled presidential bid has already been severe...
...ranking Justice officials who have left since Burns and William Weld announced their resignations March 29. Weld, who had headed the criminal division, told Reagan what he had earlier told Meese: that he would indict the Attorney General if he were running the investigation. Meese's friend E. Robert Wallach had profited from his relationship with the Attorney General, Weld said, and it appeared that Wallach had made sure that Meese was rewarded for going along with his schemes...
...heart of Meese's troubles was his friendship with Wallach, who advised Meese during his difficult Senate confirmation as Attorney General in 1985. The wheeler-dealer lawyer had financial interests in both Wedtech and the proposed Iraqi oil pipeline that Meese tried to expedite. Wallach was indicted by a federal grand jury in New York City last December for illegally acquiring payments from Wedtech to influence Meese...
Weld is known to have been particularly concerned about a report that Swiss Financier Bruce Rappaport paid Wallach $150,000 for helping promote the Iraqi pipeline. Senate investigators traced some of that money to an investment account that also held $52,000 of personal savings by Meese. This commingled fund was managed by a Wedtech director, W. Franklyn Chinn, whom Wallach had introduced to Meese. At times Chinn bought more stock in Meese's name than Meese's investment could pay for, and the deals produced a profit of $40,000 for the Attorney General. The arrangement, according...
...Wallach and Chinn have taken their Fifth Amendment protection against self- incrimination rather than cooperate with McKay in the Meese probe. For his part, Meese contends he knew nothing about the details of the Chinn investments...