by Wayne Madsen
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Mysterious Geneva money mover: tied to Enron, Saudis, Osama Bin Laden, and Iran-contra principals.
Wayne Madsen Report has obtained further paper trails linking George H. W. Bush's longtime mysterious Swiss German money mover to a now defunct bank operated on behalf of Osama Bin Laden, his family, and some of his closest business associates.
The network of Swiss-based terrorist financiers are also linked to the Muslim Brotherhood and prominent European fascist leaders. The bank, Al Taqwa ("Fear of God"), was headquartered in the Italian Swiss enclave Campione d'Italia and had offices in the Bahamas.
The Iranian con man and Pentagon neocon contact Manucher Ghorbanifar, Saudi billionaire Adnan Khashoggi, and members of the Bin Laden family are reportedly linked to Geneva-based Potomac Capital, a front company created by George H. W. Bush when he was CIA Director in 1976.
Interestingly, it was George W. Bush, who, in November 2001, cited Al Taqwa as part of "Al Qaeda's" money laundering activities.
However, Bush's neocon allies at The Washington Times and World Net Daily quickly altered course and drew attention away from Al Taqwa's Saudi and Kuwaiti investors and began to erroneously link Al Taqwa to Saddam Hussein's Iraq.
Further criminal investigations of Al Taqwa's principals were also quickly dropped.
Potomac Capital appeared on the radar screen of Federal investigators during the Iran-Contra investigation conducted in the late 1980s and early 1990s.
The Al Taqwa connection to weapons of mass destruction proliferation, Bin Laden, and George H. W. Bush and his business associates stands as another reason the George W. Bush administration leaked the CIA's Brewster Jennings & Associates counter-WMD network.
The CIA counter-proliferation team was getting uncomfortably close to tying members of the Bush family and their business associates to the same financial networks that fund Osama Bin Laden and his "Al Qaeda" network.
WMR has also obtained a possible second connection between the Swiss network connected to George H. W. Bush and other 911 hijackers.
The first connection concerned hijacker Fayyaz Ahmed and a $50,000 check he received from a tranche connected to the Swiss network.
The second is the listing of Ahmed Mesfer Ahmed Alghamdi as a shareholder of Al Taqwa on a Central Bank of the Bahamas document dated April 15, 2000.
Ahmed Alghamdi and Hamza Alghamdi were two of the Saudi hijackers on board United Flight 175, which struck the South Tower of the World Trade Center.
Saeed Alghamdi was one of the hijackers on board United Flight 93, which crashed in Pennsylania after being shot down by U.S. military fighter planes (according to an NSA employee who was on duty in the National Security Operations Center on the morning of 911).
According to the FBI, the Alghamdi hijackers used a number of aliases. Ahmed Alghamdi used the names Ahmed Saeed Saleh Alghamdi, Ahmed Mohammed Alghamdi, Saeed Alghamdi, Ahmed Saleh, and Juan Poncho Bennett. Hamza Alghamdi used Saleh Alghamdi Hamzah. Saeed Alghamdi used Mohsalih Alghamdi, Mokhlidmazid Almotairi, Saeedayed Alghamdi, and Saeed H. Alghamdi.
Other Alghamdis wanted by the FBI for involvement with "Al Qaeda" include Nora Alghamdi, Ali A. Alghamdi, Abdulrahman Alghamdi, Othman Alghamdi, Sadda Alghamdi, and Tareqsaeed Alghamdi.
UPDATE -- WASHINGTON, DC -- July 31, 2005 -- On June 20, Intelligence Whispers reported on New York Attorney General Eliot Spitzer's investigation of American Insurance Group and shady deals involving Citigroup, Enron, and UBS. This weekend brought two strange deaths involving recently retired top banking officials -- one in New York and the other in Europe. On July 30, it was reported that former Citigroup board member Arthur Zankel fell from the window of his 9th floor Manhattan apartment. Zankel retired from Citigroup's board in 2004 and was said by his longtime friend and colleague, Citigroup Chairman Sanford Weill to have been suffering from depression. Hours later, Wim Duisenberg, the retired head of the European Central Bank, was found dead in his swimming pool at his villa in Faucon, in southeastern France. Duisenberg retired in 2003. On July 29, Milan prosecutors announced indictments against subsidiaries of UBS, Deutsche Bank, Citigroup, and Morgan Stanley as part of the investigation of the financial collapse of the Italian dairy mega-corporation Parmalat. Duisenberg was backed for the head of the European Central Bank by the German banking establishment, including Deutsche Bank.
"Follow the Money ... The Truth is Out There."
UPDATED -- WASHINGTON, DC, HOUSTON, AND ZURICH -- July 24-25, 2005 -- On July 15, Intelligence Whispers reported on a July 31, 1995, $10 million transfer of funds (US Treasury Bills) from Banca Svizzera Italiana (BSI) in Zurich, via Swiss Bank Corp., New York, to Nations Bank in Texas that originated from Saudi Arabia. On Sept. 28, 1995, a $50,000 check drawn on those funds was cashed by Fayyaz Ahmed, identified as one of the 911 hijackers aboard United Flight 175 that crashed into the South Tower of the World Trade Center. WMR has now obtained the SWIFT documents from that funds transfer, which identifies Treatment Services of the Southwest Corporation of Houston, the account name for the account (account number 2664055561) on which the $50,000 check to Ahmed was drawn. Topaz Liberty, Inc. of Zurich and a firm called Andromeda International Ltd. of Edmonton, Alberta are mentioned in the SWIFT cashback wire transfer notice. Topaz Liberty maintained a brass plate front at MSL Office Services, Todistrasse, Zurich. Topaz Liberty also had a business relationship with Stephens Securities of Little Rock, Arkansas and businessmen in Oklahoma. The payee of the $10 million was Bluelake World, SA, a Swiss-registered firm. The wire transfer, itself, was a violation of SWIFT rules, which specified that a company had to be in existence for at least 6 months prior to a wire transfer via SWIFT. Bluelake World, which had working capital of $40 million, had only been in existence for 5 months when the $10 million SWIFT transfer to Texas was made. The FBI in Phoenix was investigating the transfer of some of the $10 million to Egyptian nationals it had under surveillance in Arizona and Dallas, some of whom were involved in flight training. The Dallas-based Egyptians were concentrating on training on Boeing 727s. The FBI investigated a Dallas-based distribution channel for the money called RDC Holdings, Inc., according to a well-placed source. RDC used a Merrill Lynch account (Account No. 41C-07021) to receive $7,499,985 from Bluelake on December 15, 1995. On March 29, 1996, $7.5 million from RDC's Merrill Lynch account was seized by the Arizona Attorney General. Some of the funds were returned to Bluelake but some of the money is still in Arizona accounts. It has also been revealed that the Russian Foreign Intelligence agency, the SVR, had a well-placed mole inside Barclay's Bank who was monitoring the transfer of Saudi money to Texas, including 1996 $10 billion Saudi transfer to the Enron account. It was the financial intelligence about large scale Saudi money movements to the United States that contributed to Russian intelligence warnings to the CIA prior to the 911 attacks. The mysterious Geneva-based money mover described in the article below is also reported to be a longtime supporter of both Islamist radical movements and neo-Nazi organizations. He is linked to providing financial support for Osama bin Laden, the late President of Azerbaijan Gaidar Aliev, Manuel Noriega (who he later testified against at the Panamanian dictator's Miami trial), the Muslim Brotherhood, and neo-Nazi and other right-wing groups in Europe and America. The SWIFT documents:
WASHINGTON, DC AND HOUSTON -- UPDATED -- July 15, 2005 -- On June 20, Intelligence Whispers reported on a secret meeting between UNOCAL, Enron, and Taliban officials in Tashkent, Uzbekistan in 1996. The report stated: "Prior to the Tashkent oil summit, on June 23, 1996, a $10 billion wire transfer was made from Cyprus, via Barclays Bank in London, to Enron in Houston. Cyprus is a major banking center for illicit activity. The Tashkent meeting was followed by a spring 1997 meeting between Enron, UNOCAL, and Taliban representatives at the posh Houstonian Hotel in Houston."
Now, more information has been gleaned from knowledgeable intelligence sources about the secret UNOCAL, Enron, and Taliban negotiations over the Central Asian Gas pipeline (CentGas). The source of the $10 billion was the Saudi Royal family and the recipient was Enron's LJM1 off-the-books partnership, also known as LJM Cayman, LP. LJM1 was primarily set up to finance the CentGas pipeline deal. Convicted Enron Executive Vice President and Chief Financial Officer Andrew J. Fastow was the managing member of the LJM1 partners. In addition to Barclays, the Canadian Imperial Bank of Commerce was also allegedly used to transfer the $10 billion to the Enron account. The Russian Finance Ministry, which became interested in the deals hammered out at the Tashkent meeting between UNOCAL, Enron, and the Taliban, was aware of where the $10 billion came from and where it ultimately went. Russia backed the anti-Taliban Northern Alliance when the CentGas pipeline deal was being negotiated with the Taliban in Tashkent on September 7, 1996.
The Cyprus financial middleman, an on-and-off resident of Vienna, Austria, and a specialist in international financial transfers, made a smaller transfer a year before he moved the $10 billion. In 1995, a $10 million transfer was made to Houston and the source was, again, the Saudi Royal family. The funds were transferred to Nations Bank via Banca Svizzera Italiana via SWIFT. On September 28, 1995, a $50,000 check was cashed at Nation's Bank of Pasadena, Texas. It allegedly originated from the $10 million of transferred funds from Saudi Arabia and the payee was "Fayyaz Ahmed." Fayyaz Ahmed, aka Fayez Ahmad, was also named as one of the hijackers aboard United 175 that crashed into the South Tower of the World Trade Center. The $50,000 check was signed by a Texas businessman who was later jailed by Federal authorities for three years for money laundering and wire fraud. The Dallas criminal case is as follows:
Other Court Case: None
Offense Level: 4
15:77Q(a) and 77(x) FRAUDULENT INTERSTATE TRANSACTIONS
Offense Level: 4
18:1956(a)(1)(A)(i), 1956(a)(1)(B)(i) and 2 MONEY LAUNDERING - INTERSTATE COMMERCE and Aiding and Abetting
Offense Level: 4
18:1956(a)(1)(A)(i) and 2 MONEY LAUNDERING - INTERSTATE COMMERCE and Aiding and Abetting
Offense Level: 4
15:77Q(a) and 77x FRAUDULENT INTERSTATE TRANSACTIONS
Offense Level: 4
18:1343 and 2 FRAUD BY WIRE, RADIO, OR TELEVISION and Aiding and Abetting
Offense Level: 4
18:1956(a)(1)(A)(i) and 2 MONEY LAUNDERING - INTERSTATE COMMERCE and Aiding and Abetting
Offense Level: 4
15:77Q.F FRAUDULENT INTERSTATE TRANSACTIONS
Offense Level: 4
18:1343.F and 2 FRAUD BY WIRE, RADIO, OR TELEVISION aiding and abetting
Offense Level: 4
18:1956-4700.F and 2 MONEY LAUNDERING - POSTAL, INTERSTATE WIRE, RADIO, ETC. aiding and abetting
The account from which the $50,000 was paid was in the name of Treatment Services of the Southwest Corporation, 14359 Torrey Chase Blvd., Suite D Houston TX 77014-1635, in North Harris County --check number 266-406556-1; Tax ID # 76-0455993. Much of the funds evetually ended up in Phoenix, later the location of some of the 911 hijacker trainees. Ahmad also used the aliases Banihammad Fayez Abu Dhabi Banihammad, Fayez Rashid Ahmed, Banihammad Fayez, Rasid Ahmed Hassen Alqadi, Abu Dhabi Banihammad Ahmed Fayez, with the FBI officially tagging him as one Fayez Rashid Ahmed Hassan al Qadi Banihammad. Fayyaz Ahmed had been a resident of Delray Beach, Florida. The FBI later said that the "Fayyaz Ahmed" who cashed the check in Pasadena was merely a student paying for college tuition but the note on the check states "contingent for travel expenses." Dallas, Texas was also one of the locations used by the hijackers for flight simulator training. One of the flight training "tasks," the hijackers trained to do was to maneuver planes between World Trade Center 1 and 2.
The international financial transfer specialist, a German national, is now reportedly living in Geneva after spending time in Glasgow (12 Claremount Avenue, Giffnock, Glasgow G46 5UT Scotland) and reportedly had past connections to the Iranian Iran-contra figure Manucher Ghorbanifar, the late Azerbaijani President Gaidar Aliev, jailed Panamanian dictator Manuel Noriega, current Director of National Intelligence John Negroponte, and a secretive investment firm called Potomac Capital, set up as a CIA proprietary in 1976 by then-CIA Director George H. W. Bush as a means to launder large amounts of cash for classified operations. In 1996, Interpol and the Swiss police raided the money mover's Zurich office, a brass plate which represented his Panamanian registered corporation, Topaz Liberty, Inc. The firm is reported to have had close links to Negroponte's covert Central American operations and was linked to the failed Bank of Credit and Commerce International (BCCI). The FBI desperately tried to interview the money mover in May 1996 but were unsuccessful.
Potomac Capital, which reportedly had its CIA links severed during the Clinton administration, was the template for BCCI. Potomac Capital reportedly now maintains a brass plate office in the same office building in Geneva that houses Ghorbanifar's company. The mysterious money mover is also suspected of currently providing funds to Osama bin Laden. A well-placed intelligence source criticized the George W. Bush administration for using former CIA proprietaries for political purposes having nothing to do with national security.
Potomac Capital was used to finance an airline called ULTRAIR, which allegedly bought weapons and shipped them to the Afghan mujaheddin in the 1980s. ULTRAIR bought a couple of former Eastern Airlines Boeing 727s from Texas Air Corporation after Texas Air chairman Frank Lorenzo conducted a corporate raid on the faltering airline using junk bonds. After ULTRAIR fell into financial difficulties, President George H. W. Bush leased the planes for White House use in a highly questionable deal. After Bush left office, the new White House Deputy Counsel Vince Foster began looking into White House travel records in an investigation of the prior administration's leasing deals with ULTRAIR. Foster's investigation was complemented by a similar Justice Department probe ordered by Attorney General Janet Reno.
Financial ties between Al Qaeda, Saudi Arabia, and American banks do not end with the Texas payments. A former chief of Mossad confided that Israeli intelligence was well aware that Al Qaeda funded its activities through the top six U.S. banks, including Nation's Bank (now Bank of America). After Israeli troops swarmed into the West Bank and Gaza in Operation Protective Shield in 2002, seizure of records from banks showed that a number of terrorist groups received funding through U.S. bank accounts. Two checks below show the involvement of Chase Manhattan Bank in the financing activities. The copies were provided by Israeli military intelligence. The source of the funds were Saudi. Furthermore, a U.S. intelligence source recently confided that Florida Governor Jeb Bush was heavily involved in the spiriting of members of the Saudi Royal family out of Florida on a U.S. government plane after the attacks of September 11, 2001. A third check provided by Israeli military intelligence is drawn on the Saudi American Bank, which has an office just across the street from the Saudi Embassy in Washington, DC in the Watergate complex. The former head of Saudi intelligence, Prince Turki bin Faisal, who acted as the Saudi govenrment's main interlocutor with Osama bin Laden, is due to take up the post as Saudi ambassador to the United States.
CHARLOTTESVILLE, VA, June 29, 2005 -- More corruption and intelligence fabrication has been revealed in the U.S. intelligence community. In the case of the National Ground Intelligence Center (NGIC) in Charlottesville, Virginia, the focus is on how imagery intelligence prior to Operation Iraqi Freedom was fabricated as a justification for the attack and occupation of Iraq. In addition, in a violation of White House, intelligence, and U.S. Army directives, intelligence databases were altered to justify expensive weapons programs like the canceled Comanche helicopter and the Crusader mobile artillery system.
According to NGIC insiders, after coming to power, the Bush neo-conservatives in the Pentagon began exaggerating the numbers of Russian combat helicopters. Moreover, Cold War analysts at NGIC began altering intelligence databases to increase the number of Russian helicopters by counting damaged and cannibalized Russian helicopters as fully operational. The more numerous damaged and cannibalized helicopters were then reclassified as "new" and "moved" to Russian military bases near conflict zones like the Trans-Caucusus to give the appearance that they represented a greater threat to U.S. national security. This cooking of threat intelligence was done to justify systems like The Carlyle Group/United Defense Industries' Crusader artillery system. However, Donald Rumsfled disliked the Crusader and canceled the project with a huge contract termination fee going to Carlyle and his friend and Princeton roommate, then-Carlyle head Frank Carlucci.
Other intelligence cooking involved counting Iraqi surface-to-air missile (SAM) batteries without radar as fully operational. As one NGIC analyst recalled, "without radar, SAMs are ineffectual."
One NGIC insider recalled how the Bush administration cooked the intelligence on the alleged Iraqi aluminum tubes claimed to be for use in Iraqi nuclear centrifuges: "As the person who briefed Colin Powell [then Chairman of the Joint Chiefs], Cheney [then Defense Secretary], and Pete Williams [then Cheney's spokesperson] about Iraq's Italian artillery rockets during Desert Storm, I knew those aluminum tubes were Egyptian knock offs of the Italian gun barrels we captured in 1991," the imagery intelligence (IMINT) analyst said. The analyst added that this fact about Iraq's procurement of the Egyptian artillery tubes for the Italian-made Medusa-81 rockets after Desert Storm was well known to both Cheney and Powell.
The NGIC analyst said that the Pentagon neo-cons went to specialists at NGIC who had expertise on artillery rockets and got them to confirm the aluminum tubes were for nuclear centrifuges. The analyst emphasized that those specialists were not experts on centrifuges and had no place in making such assumptions. However, after the outbreak of the Iraq war, all the NGIC analysts who went along with the intelligence cooking were promoted rapidly. Those who questioned the intelligence manipulation were fired from their jobs and had their security clearances revoked.
NGIC is also embroiled in a fraud scandal involving outside contractors (similar to the problems at NSA involving TRAILBLAZER and GROUNDBREAKER contacts). NGIC insiders report that current and former senior officials of the agency have major conflicts of interest with NGIC's prime contractor, MZM, Inc., which has recently been on the sales block after it was discovered that the founder of the defense and intelligence contractor, Mitchell Wade, purchased and then sold California Republican Representative Randy "Duke" Cunningham's Del-Mar home at a $700,000 loss to Wade. "MZM" stand for the names of Wade's three children -- Matthew, Zachary and Morgan. It was later discovered that Wade allowed Cunningham to live aboard his yacht, named the "Duke-Stir," berthed at Washington, DC's Capitol Yacht Club. Cunningham also serves on the powerful House Defense Appropriations Subcommittee. Amid the Cunningham scandal, Wade resigned as President and CEO of MZM and replaced himself with retired three-star Army General James King, a close friend and associate. Wade's move came after his previously-selected replacement, chief operating officer Frank Bragg, suddenly resigned after being named President and CEO. Former Bush Director of the Office of Personnel Management Kay Cole James, a recently-named Vice President of MZM, also resigned suddenly. A Federal Grand Jury has subpoenaed documents from Cunningham and there is an on-going FBI investigation. Three former MZM employees have charged that Wade pressured them and other MZM employees to give money to MZM's Political Action Committee, which then funneled the money to the campaigns of Cunningham, Virginia Republican Representative Virgil Goode, and Florida Republican Representative (and current Senate candidate) Katherine Harris. MZM maintains an office in Goode's district and plans to establish one in Harris's.
Conflict of interests charges swirled around NGIC even before MZM eased out Battelle as the prime contractor for the agency. NGIC insiders claim that NGIC management was equally close to both MZM and Battelle. The insiders cited one case where the son of a senior NGIC manager, whose work experience largely consisted of being a waiter and bartender, was hired by MZM as a senior manager. They also pointed to the wife of an NGIC senior official being employed as a secretary for Battelle and MZM. The NGIC insiders emphasize that such employment of relatives violate the Code of Federal Regulations (CFR).
MZM was granted a favorable deal on office space across the street from NGIC at thr University of Virginia Research Park funded by Virginia taxpayers. There is virtually no separation between NGIC and MZM, according to NGIC employees.
Formerly known as the Intelligence Threat Analysis Center (ITAC) and located at the Washington, DC Navy Yard, the elements of ITAC were dispersed in 1984 and moved to Charlottesville where the NGIC was established; Fort Meade, Maryland; and Fort Belvoir, Virginia. NGIC continues to maintain the headquarters for its Imagery Assessments Directorate (IAD) at the Navy Yard, where analysts work alongside those from the Defense Intelligence Agency, National Geo-Spatial Intelligence Agency (NGA -- formerly the National Imagery and Mapping Agency). The NGIC is a major U.S. intelligence community's reservoir of technical knowledge on foreign weapons systems, including tanks, helicopters, artillery, anti-aircraft defenses, NBC (nuclear, biological and chemical) weapons, military engineering equipment and vehicles, armored fighting vehicles, mines, radars, and camouflage and deception tactics. The Imagery Assessments Directorate plays a key part in analyzing satellite photographs to develop intelligence reports on foreign battlefield systems and orders of battle.
WASHINGTON, DC, June 29, 2005 -- On June 28, Virginia Republican Representative Tom Davis, the chairman of the House Government Reform Committee, refused to meet with members of the National Security Whistleblowers Coalition (NSWBC). This came after Davis refused to consider amendments to H.R. 1317, a whistleblowers protection act that would also protect national security employees from retaliation for whistleblowing. In a June 28 letter to the NSWBC, ranking Democratic Representative Henry Waxman of California, wrote, "Two weeks ago, the Committee scheduled a mark-up for HR 1317. I had planned to offer several amendments that would have greatly strengthened the bill, while at the same time striking a provision that could have eliminated whistleblower protections for a large group of federal employees. I was hoping to have the opportunity to debate these amendments on their merits, but I was disappointed that the mark-up was cancelled at the last minute."
After being told Davis would not meet with them, the NSWBC representatives posed five questions for him:
1. Why is Rep. Davis so hostile to protection for national security whistleblowers when his own district contains a large number of national security employees, in both government and as contractors?
2. 213 of Rep. Davis' Republican colleagues voted to urge broad whistleblower protection for United Nations employees, but why does Chairman Davis stymie protection for U.S. citizens? (Did not vote on HR 2745 and supports HR 1317)
3. Why does Rep. Davis claim that he is committed to expanding national security whistleblower protection when he supports legislation to make the government less accountable for retaliation against whistleblowers and make the nation less secure? (Support for HR 1317)
4. Why does Rep. Davis support the use of secrecy as a weapon against national security whistleblowers to silence their legitimate concerns about citizen security and malfeasance in government? (HR 1317 stripped of protection found in S. 494).
5. Why does Rep. Davis oppose disclosures of government malfeasance to members of Congress on committees with primary oversight for the agency involved? (Support of HR 1317 stripped of protections found in S. 494).
WASHINGTON, DC, June 20, 2005 -- Two criminal investigations based in New York are getting close to exposing a major Bush family and associates' international money laundering operation that has spanned more than a generation and has been used to illegally fund U.S. elections since the Nixon era. According to CIA sources, most Bush family assets are tied up in off-shore accounts that are masked from investigators through the use of pass through companies and secretive interlocking board directorships.
The investigations of the secret Bush money tranches are coming to the fore as New York Attorney General Eliot Spitzer focuses in on the scandal involving Maurice "Hank" Greenberg and the inflation of the worth of American Insurance Group (AIG) through shady affiliates, including AIG reinsurer Coral Re of Barbados. Greenberg was the CEO of AIG but was forced to step down amid the Spitzer probe. AIG was founded from Asia Life/CV Starr, a Shanghai-based international import/export and insurance firm founded in 1919 by Cornelius V. Starr, an Office of Strategic Services (OSS) operative in Southeast Asia during World War II. AIG's largest shareholder is Starr International Company (SICO), an off-shore corporation incorporated in Panama with headquarters in Bermuda. Kenneth Starr, the independent counsel who prosecuted President Clinton, is the nephew of Cornelius Starr. Greenberg inherited the CEO job and Chairmanship from Starr as well as the $3.5 billion Starr Foundation.
Another probe by Manhattan District Attorney Robert Morgenthau is focused on long-time Bush backers Sam and Charles Wyly of Texas and a Bank of America off-shore account in the Isle of Man. According to intelligence sources, that probe is getting very close to an Isle of Man multi-billion dollar account controlled by the Bushes through an off-shore contrivance known as Five Star Trust.
Charles Wyly serves on the board of the University of Texas Investment Management Company (UTIMCO). Critics have charged that hundreds of millions of dollars of UTIMCO's $11 billion in public funds have been steered to investment funds run by Bush family friends and supporters. A number of UTIMCO's past and current directors are members of George W. Bush's "$100,000 Club." These include, in addition to Wyly, former UTIMCO chairman Tom Hicks, a vice chairman of Clear Channel and head of Muse, Tate & Furst, Inc.; L. Lowry Mays, the chairman of Clear Channel; former Texas Representative and current lobbyist Tom Loeffler (who received illegal laundered campaign contributions from the failed Vernon Savings & Loan); A. W. Riter, a former chairman of NCNB Bank in Tyler, Texas; A. R. "Tony" Sanchez, Chairman of Sanchez-O'Brien Oil & Gas, owner of the Texas border-based International Bank of Commerce and the failed Tesoro Savings & Loan; and Woody Hunt, Chairman of Hunt Building Company. Some of UTIMCO's investments were directed to firms with close ties to Bush "Pioneer" contributors Lee Bass (Bass Brothers Enterprises), Henry Kravis (Kohlberg Kravis Roberts), and Charles Wyly (Maverick Capital Fund), as well as George W. and H.W. Bush (The Carlyle Partners II Fund, managed by The Carlyle Group).
Questions have been raised about the sudden resignation of Hugh McColl, ostensibly a Democrat, from the Bank of America in 2001 just after George W. Bush's election. McColl's departure was reportedly a year earlier than originally planned. McColl contributed $104,000 to Bush in the 2000 campaign and gave a mere pittance to Al Gore. Earlier, in 1983, McColl became head of NCNB Bank, which became Nations Bank in 1991. In 1988, NCNB had acquired the failed First Republic Bank of Dallas and, according to intelligence insiders, assumed responsibility for a number of questionable Bush family business deals.
Texas money laundering is the tip of an Bush family financial iceberg that extends below the surface to shady financial deals around the globe. However, investigators who dare venture into Texas will have their jobs cut out for them. The Bushes have been major recipients of campaign cash from senior partners the largest law firms in Texas -- Vinson & Elkins, Baker Botts (law firm of James Baker III), Andrews Kurth (the law firm of contentious U.S. District Judge Priscilla Owen), Jenkins & Gilchrist, Haynes Boone and Bracewell & Patterson -- that have also been involved in defending those Texas companies and principals who have benefited from massive illegal financial flows.
For example, Andrews Kurth was the law firm for MAXXAM. The firm figured prominently in the failure of the United Savings Association of Texas in December 1988, a savings & loan owned by United Financial Group, Inc., a company in which two firms connected to Texas banker Charles Hurwitz -- Federated Development Company and MAXXAM Group Inc. -- had a significant interest. MAXXAM was an artifice financed with junk bonds from the failed Drexel Burnham Lambert investment firm and its chief junk bond master Michael Milken. The U.S. Office of Thrift Supervision and the Treasury Department brought charges against Hurwitz and his colleagues for several violations of the law. The late House Banking Chairman Henry Gonzalez attempted unsuccessfully to have George H. W. Bush impeached for the massive S&L, BCCI, and other rip offs of the American taxpayers, investors and depositors. Gonzalez realized that the Bush family has concocted a series of financial tranches, off-shore shells, and artifices to conceal criminality unseen in the history of modern financial systems.
The Bank of America-Wyly investigation by Morgenthau, who prosecuted a number of BCCI principals, is noteworthy because of the Isle of Man connection. According to Enron insiders, the same Houston-based attorney who set up the Five Star Trust for the Bushes in the Isle of Man also set up Isle of Man trusts for Enron and the trusts often co-mingled funds and funding sources. The most important bit of intelligence to come forward from seasoned CIA financial operatives, speaking on a strict condition of anonymity, is that Osama bin Laden has had an interest in some of the same Isle of Man trusts used by the Bushes and Enron.
Spitzer's investgation of AIG is starting to dovetail with that of Morgenthau. One focus of the investigation is on some questionable Enron "cash flow" notes payable to Citicorp and J. P. Morgan Chase and purchased in May 2001 by AIG and the John D. and Catherine T. MacArthur Foundation. On August 21, 2001, just a few weeks before the 911 attacks, a UBS Warburg/Paine Webber broker named Chung Wu advised his investors to sell their Enron stock, whereafter UBS quickly fired the broker. In an email Wu advised customers, “Financial situation is deteriorating in Enron and price drops another $7.00…I would advise you to take some money off the table even at this point.” The House Committee on Government Reform investigated the sacking of Wu and his warning but little came from the GOP-run committee. In December 2001, Enron filed for bankruptcy in New York City, not in Houston, where its headquarters was located. The New York bankruptcy court appointed Steven Cooper of Zolfo-Cooper LLC to run Enron.
After Enron's bankruptcy, UBS Warburg conveniently purchased Enron’s energy trading unit, the group that was the subject of much of the investigations directed against the defunct firm, especially the role of the trading unit in inflating energy costs in California and ensuring the recall of Democratic Governor Gray Davis and replacement by the GOP's Arnold Schwarzenegger.
The deal involving Cooper's assumption of control of Enron raised eyebrows among regulators, chiefly because Cooper's Catalyst Equity Partner's Fund included Citicorp and J.P. Morgan Chase, two of Enron's major creditors. Financial investigators report that the Enron notes to Citicorp and Chase and sold to AIG and MacArthur were unusual, out of the ordinary, and "lacked teeth." A former U.S. Justice Department prosecutor referred to such financial instruments as "feints" designed to mask illegal transactions by keeping them off the books and away from the eyes of U.S. government regulators. In September 2002, Kroll Inc., a shadowy firm with ties to the U.S. intelligence community, acquired Zolfo-Cooper and Cooper was named managing director of Kroll Zolfo Cooper. In May 2004, Marsh & McLennan acquired Kroll and Zolfo Cooper. Jeffrey Greenberg, the son of AIG's Hank Greenberg, had earlier left AIG to run Marsh & McLennan. The revolving doors and musical chairs involving Enron, Kroll, Zolfo-Cooper, Marsh & McLennan, and AIG became the subject of Spitzer's probes. Another insurance firm investigated by Spitzer for price fixing of property casualty insurance coverage and conspiracy was ACE, headed by Hank Greenberg's other son, Evan. In October 2004, Jeffrey Greenberg quickly stepped down from Marsh & McLennan amid Spitzer's investigation.
Hank Greenberg has had a long time relationship with Henry Kissinger, the partner of Richard Perle in Trireme Partners, the firm that, according to Seymour Hersh, attempted to negotiate deals with Saudi Arabia using Saudi billionaire arms dealer Adnan Khashoggi as an intermediary. Greenberg and Khashoggi, according to CIA sources, have long had an interest in exploiting the oil and natural gas reserves of Uzbekistan and the construction of pipelines across the Uralskaya region of Russia. Uzbekistan has also featured prominently in oil and natural gas plans of Enron and UNOCAL. According to Enron insiders, on Saturday, September 7, 1996, 42 representatives of Enron and UNOCAL met in Tashkent, the Uzbek capital, with Khashoggi, Taliban representatives, and Uzbek government officials. The subject was the CentGas pipeline through Afghanistan to Pakistan, a project that involved UNOCAL, Enron, and Saudi support. Current Afghan President Hamid Karzai was a consultant on the pipeline for UNOCAL. Prior to the Tashkent oil summit, on June 23, 1996, a $10 billion wire transfer was made from Cyprus, via Barclays Bank in London, to Enron in Houston. Cyprus is a major banking center for illicit activity. The Tashkent meeting was followed by a spring 1997 meeting between Enron, UNOCAL, and Taliban representatives at the posh Houstonian Hotel in Houston.
WASHINGTON, DC, June 16, 2005 -- Rep. Tom Davis (R-VA) has fired a shot across the bow of national security whistleblowers who are reporting on how the Bush adminisration is dismantling analyst by analyst and official by official our national security capabilities. Davis used Nazi-style GOP parliamentary tactics, recently pioneered by House Judiciary Committee Chairman James Sensenbrenner (R-WI), to scuttle a June 16 House Government Reform Committee markup on whistleblower protection legislation (H.R. 1317). Davis made his move after members of the National Security Whistleblowers Coalition, a new organization dedicated to stronger government accountability through improved whistleblower protections, said they would show up at the House to protest Davis's decision not to support the legislation. A number of employees at the CIA, FBI, NSA, DIA, and other agencies lost their security clearances, were outright fired, or were threatened with sanctions for reporting on malfeasance and incompetence within the US Intelligence Community.
Cover Up Proponent Tom Davis
For more information on the National Security Whistleblowers Coalition, visit www.nswbc.org
WASHINGTON, DC, June 5, 2005 -- As the AIPAC/Pentagon Israeli espionage scandal grows, more news about the non-reported Israeli penetration of the NSA and U.S. Navy in the 1980s has been revealed by NSA insiders. Veterans of the RCA-NSA-Israeli joint SIGINT program code named DINDI report that Israeli engineer spies used the carve out contract with NSA, through RCA, to gain access to NSA and U.S. Navy secrets. In an RCA facility in Mount Laurel, NJ, the Israeli engineers had their own secured lab, and for three years that DINDI ran, they were walking out with their briefcases loaded with equipment, including scopes. When RCA engineers finally gained acess to their lab, they found the prints laid out for the Trident missile system. RCA had an ongoing contract top develop the Trident communications suite at the time of the security leak. The Israeli engineers on DINDI claimed they were from the Israeli Air Force but months later, an RCA engineer was in New York and he ran into the same Israelis, but they were wearing Israeli Navy uniforms. One ex-RCA engineer commented about the DINDI Israeli spies: "They were all a nice bunch of guys, even when they had their hands in your pockets
It ceased operations after its assets were blocked by a US Treasury Department order, its assets were frozen by the Swiss government, and its banking license was revoked by the Bahamas.
Al Taqwa subsequently changed its name to Nada Management Organization.
Al Taqwa and a complex web of affiliate front companies and brass plates in Switzerland, the Bahamas, Italy, Saudi Arabia, Jersey, Isle of Man, Turkey, Kuwait, Afghanistan, Bosnia, Croatia, Slovenia, the United States (Delaware and Texas), Germany, Belgium, Albania, Ethiopia, Eritrea, Somalia, Sudan, Uganda, Kenya, Tanzania, Austria, Bahrain, Singapore, Thailand, Bangladesh, Pakistan, and Liechtenstein were reportedly involved in funding terrorist operations around the world, including the procurement of nuclear material from the former Soviet Union through Baltic intermediaries.
According to a EUROPOL diagram obtained by WMR, these companies included Iksir Holding, SA (Italy), Asat Trust (Liechtenstein), Iksir Ltd. (Bahamas), Gulf Center (Italy), NASCO (Turkey), Nasreddin International Group (Liechtenstein), Akida Bank (Bahamas), MIGA (Switzerland), and Nasreddin Foundation (Liechtenstein).
According to intelligence sources in the United States and Europe, the Al Taqwa network intersected with tranches in Geneva and the Isle of Man that involve front companies associated with George H. W. Bush and Enron: Topaz Liberty, Bluelake World, and Potomac Capital.