One Nation Under Blackmail, by Whitney Webb

There is no shorter route to power than through the genitals of male leaders. This principle guided the Lolita Gambit, played by the Mossad through its "Agent" Jeffrey Epstein

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Part 1 of 3

CHAPTER 6. A PRIVATE CIA

CHANGING TIMES


During the Watergate affair, Henry Kissinger appeared as something of an outsider, even though he had entered the administration as a favored intellectual scion of the Rockefeller-dominated “Eastern Establishment.” His positions on the easing of tensions with the Soviet Union, arms reduction, and opening to China put him out of step with the robust, semi-covert network of spooks, lobbyists, power brokers, and businessmen who were oriented toward the Nationalist Chinese, toward rolling back the Soviets through military means, and increasing defense budgets. Until the Watergate scandal, the lines seemed starkly drawn. But, as time wore on, the battles between liberal reformers and hardliners reached a fever pitch, and certain lines seemed to bend and blur.

Kissinger, in particular, appeared to have undergone something of a geopolitical reorientation, retooling his commitments to reflect the new power bloc. In the latter part of the 1970s, he took up a post at the Center for the Institute of International Studies. As Jerry Sanders has noted, the Center and its partner organization, the American Enterprise Institute, “set themselves up in competition with such august bodies as the Council on Foreign Relations and the Trilateral Commission.”1 The Center’s director was Ray Cline, an old China Lobby hand, OSS veteran (having served in the China theater alongside notables such as Paul Helliwell, E. Howard Hunt, and John K. Singlaub), and a high-ranking CIA officer. Cline had been a consistent critic of the Nixon-Kissinger policies of detente and opening to China.

To acclimate properly to his new affiliations and associates, Kissinger adopted a harsh line on the ongoing arms reduction talks with the Soviet Union. It was indicative, he said, of a “defeatist consensus” accepted by the “traditional establishment.”2 By this point, a robust network of New Right activist groups, think-tanks, advocacy groups, and their conservative backers had formed to push back against detente policies and arms reduction, calling instead for an increase in military spending and more hawkish orientation toward the Soviets. Many of these were organized from classic centers of power like the American Security Council, an entity described as the “heart and soul of the military-industrial complex,”3 the Committee on the Present Danger, the Heritage Foundation (where Robert Keith Gray maintained a post), and the AFL-CIO.

New groups such the Conservative Caucus, the Coalition for Peace through Strength, and the Free Congress Foundation also dotted the landscape, drawing on money unleashed by philanthropies such as the Scaife, Olin, and Koch foundations. Other active players in this world included Reverend Moon’s Unification Church, which was tied very closely to the China Lobby and to the KCIA. Two of the Unification Church’s top US allies were Ray Cline and Alexander Haig.4 Managing a sizable portion of the Unification Church’s promotional campaigns and serving in a secretarial role in many of its front groups was the political direct-mail mastermind Richard Viguerie. A member of the George Town Club, Viguerie was associated with numerous groups during this period, carrying out work on behalf of the Conservative Caucus and the various anti-disarmament campaigns launched by organizations such as the Committee on the Present Danger and its allies. All of these activities were run from Viguerie’s headquarters, a building he owned at 7777 Leesburg Pike in Falls Church, Virginia. It was a location that came to play a fundamental role in the world of Ted Shackley, Edwin Wilson, and Thomas Clines.


Reformist efforts, nevertheless, continued to build. One such reformer was Admiral Bobby Ray Inman, who had risen through the ranks to become director of Naval Intelligence in 1974. He followed this with stints as head of the Defense Intelligence Agency, the National Security Agency, and then, briefly, as deputy director of the CIA under William Casey. Inman privileged signal intelligence – intelligence acquired via electronic means as opposed to human intelligence gathering methods – and had a strong distaste for what he perceived as waste, inefficiency, and redundancy within the intelligence community. He was also seen as a something of a moderate, a counterpoint to those fixated on covert operations and assassination programs such as those favored by Shackley and his clique.

In 1976, Task Force 157 was on the chopping block. For Inman, “it was an expensive unit of dubious benefit to the Navy.”5 There were also the rumors and hints that TF-157, via Wilson, had become embroiled in covert operations quite different from its stated mandate. In 1975, for example, Wilson entered into a series of curious business arrangements with Bernie Houghton of Nugan Hand, a bank headquartered in Australia whose management consisted predominately of supposed former US intelligence officials.6

Houghton himself was no stranger to the circle of individuals around Wilson, having worked in Vietnam in close proximity to the primary operators in Shackley’s secret wars.7 At the time that Houghton was meeting up with Wilson, the Nugan Hand Bank appears to have been involved in brokering the sale of arms to paramilitaries in South Africa. The financing of the arms was arranged through a web of banks such as Nugan Hand’s Hong Kong subsidiary. Yet, when it came to purchasing and shipping the arms, Houghton and his partner, Michael Hand, turned to Edwin Wilson. According to an official Australian government report on the criminal activities of the Nugan Hand Bank:

There was a number of meetings between Wilson, Houghton, and the others over a relatively short period of time. Subsequently, under the cover of Task Force 157, Wilson placed an order for something like “10 million rounds of ammunition, 3,000 weapons including machine guns, M-1 carbines, and others.” The shipment is believed to have left the US from Boston. The End Users’ certificate indicated that [Wilson’s TF-157 front company] World Marine was the US purchasing agent while the middle company or buyer’s agent was an Australian company but not Nugan Hand. The name given as the buyer was Portuguese, and was a name that had been used previously and possibly after by World Marine in other unrelated covert operations.8


Rumors also abounded that TF-157 and Nugan Hand were complicit in the destabilization of the Australian government of Gough Whitlam, which was considering closing the CIA’s satellite monitoring station called Pine Gap. Alarms about Whitlam’s intentions were raised in the halls of the CIA by none other than Shackley; according to Victor Marchetti, a high-ranking CIA officer, Whitlam “caused apoplexy in the White House … a kind of Chile [coup] was set in motion.”9 Likely with these and other incidents in mind, Inman determined that TF-157 was “out of control.”10 Wilson attempted to negotiate with the naval intelligence chief, suggesting that if TF-157 were shut down, perhaps another, more effective organization should be set up (with Wilson getting the lucrative contracts to run it, of course). Shackley also attempted to intercede, suggesting to Inman that shuttering the program and firing Wilson would be the “loss of a major intelligence asset. Inman told Shackley that if he found Wilson so valuable, he could put him back on the CIA payroll.”11

TF-157 was ultimately shut down, and Wilson was, by all appearances at least, out of the job. At that same moment, events were taking place that would ultimately lead to Wilson’s downfall. In December 1975, shortly before Inman’s decision to dismantle TF-157 began, Wilson met a former CIA operative named Frank Terpil. Terpil ran a company called Intercontinental Technology, a subsidiary of Stanford Technology – a firm that would feature prominently in the Iran-Contra affair.12 Stanford’s owner was Albert Hakim, an Iranian businessman who acted as a back channel between Iran and Israel.13

By the time he met Terpil, Wilson was already familiar with Hakim, as they had been introduced by Richard Secord. Terpil proposed to Wilson a business venture that involved scouring weapons and other sensitive technologies for the government of Muammar Gaddafi in Libya. Terpil had been trading with Libya through a partnership with a Pennsylvania businessman named James McElroy. McElroy, according to Peter Maas, “had been one of the first entrepreneurs to cash in on money-flush OPEC oil nations in Africa and the Middle East. McElroy began supplying them with everything from Pampers to pistols. Gradually Libya became one of his big customers, and from Pampers, it was more and more pistols.”14 But what the Libyans hoped to score, from Terpil and Wilson, was heavier equipment: “C-4 plastic explosives and a Red-Eye Missile.”15

With the approval of Shackley and Clines, Wilson went to work in Libya. The operation quickly expanded into a training program for Libyan fighters. To carry this out, Wilson and Terpil set up a cover company called Inter-Technology and several other export firms. Former CIA officers like Kevin Mulcahy were brought in to run them, while the secret training school was staffed by former Green Berets.16 Among the trainers was Eugene Tafoya, “a beefy, acne-scarred thug, widely disliked by his comrades, who after a few glasses of ‘flash,’ the Libyan equivalent of bathtub gin, would boast about all the people he’d blown away behind enemy lines in Vietnam.”17 Soon enough Tafoya was working as a hitman for Wilson and was outsourced to the Libyan government for an ultimately ill-fated assassination plot against political dissidents living abroad.18 All the while Wilson reported information back to Shackley and Clines and, reportedly, to the SAVAK – the Iranian intelligence apparatus under the Shah – as well.

At this point, Shackley’s star was continuing to rise within the CIA. In January 1976, George H.W.Bush was made President Gerald Ford’s director of the CIA, and Shackley was made assistant deputy director for Operations. His coveted position was director of central intelligence, and he fully expected to serve as Bush’s successor: “Shackley had been tapped to become CIA director if Gerald Ford had been re-elected president.”19 This, however, never came to pass. Ford didn’t win the election and was instead succeeded by President Jimmy Carter. Bush was ousted from his position as director of central intelligence and replaced by a reformist, Admiral Stansfield Turner.

Turner came from outside the world of the CIA. A career military officer, he was a former schoolmate of Carter’s and was selected to reorganize the CIA. Large swaths of the Agency dedicated to undercover operations and special warfare were systematically removed, fundamentally changing the character and culture of the CIA. Shackley held on for a while, compartmentalizing what remained in the directorate of Operations and hiding it from the watchful eyes of Carter and Turner.

In 1979, Shackley retired from the CIA to dedicate himself to a series of private business ventures. In reality, these ventures were components of a private intelligence network that he had been designing over the course of several years. The long-term plan was to use this private CIA as the foundation for a rollback of Carter’s reforms, when a Republican president would inevitably succeed him. This private network, unsurprisingly, quickly found itself embroiled in a series of international scandals.

Much of Shackley’s network was bankrolled with money provided by Wilson. According to FBI memoranda, published as part of a later report by the Congressional Committee Investing the Iran-Contra affair, Wilson provided Clines with a loan to organize a company called International Research and Trade (IRT), which acted as a corporate umbrella for two other Clines-owned companies. These were System Services International (SSI) and API Distributors.

SSI, registered in Bermuda, was later described by Shackley as “designed originally to be a trading company [for] securities.” According to his testimony during the Iran-Contra hearings, SSI did very little business.20 This was soon revealed to be untrue. API Distributors, registered as a Delaware corporation, was organized to act as a supplier for oil companies. One of its primary clients was Pemex, the Mexican state-owned petroleum firm. It set up shop in Houston, Texas, where it shared offices with Wilson’s Aroundworld Shipping. API had a tendency to bring into the fold old veterans of the Agency’s secret wars. Rafael Quintero and Ricardo Chavez, both old recruits who operated under the auspices of JM/WAVE, were put on the API payroll and dispatched to Mexico, ostensibly to work on the Pemex project.21

When questioned about his role in these companies, Shackley offered only vague responses. For SSI, he did some sort of unspecified work, while for API he “worked as a consultant, employee, office manager, trying to get the company off the ground.”22 He told the FBI that he had not played any role whatsoever in IRT, stating that he only had passing knowledge of this Clines-owned parent company. Despite Shackley’s efforts to distance himself, numerous figures associated with the private CIA – people like Clines, Wilson, and Richard Secord – “told the FBI and other government agencies that it was quite clear that Shackley was the boss.”23

Further evidence comes from the curious office arrangement of Research Associates International, the “consultancy and risk analysis” firm Shackley launched in 1979.24 Just as API Distributors shared office space with Wilson’s Aroundworld Shipping, Research Associates International shared offices with SSI and International Research and Trade.25 ___I’s staff included multiple Shackley associates from his CIA days. Directors of the firm included Jim Critchfield, Donald Jameson, and a mysterious “Mr. Ledbetter,” who may have actually been Calvin Hicks. If so, Hicks would have known Shackley from his JM/WAVE days.26

Research Associates International was formed with a specific focus on the oil industry, and it appears to have only had one, exclusive, client: John Deuss (deceptively spelled as “Dois” in the transcripts of Shackley’s Iran-Contra testimony). Deuss, through an expansive corporate web organized around Transworld Oil, moved in the murky world of oil trading where he worked with the likes of the infamous commodity trader (and Mossad asset) Marc Rich. Between 1979, when he first hired Shackley’s Research Associates International, and 1993, Deuss dominated South Africa’s oil imports, with Transworld Oil accounting “for more than half of South Africa’s oil purchases.”27 Aside from Deuss, the other giants of this trade – which was essential for the maintenance of the apartheid regime – were Marc Rich and Marimpex, a German oil-trading company. As will be noted later in Chapter 16, a former “girlfriend” of Epstein’s, Francis Jardine, later married John Deuss. Jardine accompanied Epstein to the Clinton White House in September 1994.

Shackley and Deuss intersected through Shackley’s massive web of contacts. The introduction between the two was made by Michael Corrie, then serving as president of Transworld Oil. Corrie had run Royal Dutch Shell’s Vietnam division, which was one of the major firms tapped by the US military to assist the war effort (though, ironically, a robust black market saw significant amounts of Shell petroleum routed to the Viet Cong). It was there that Corrie and Shackley became acquainted.28

There was also the interesting selection of attorneys by Shackley and Clines: the legal legwork for setting up Research Associates International, System Services International, and International Research and Trade was the prestigious Washington-based firm of Shaw, Pittman, Potts & Trowbridge.29 Terry Reed and John Cummings, in Compromised, wrote that the firm was “very much aligned with the CIA” and had “a history of providing criminal defense for intelligence agents.”30 One former CIA officer on the Shaw, Pittman, Potts & Trowbridge payroll at this time was William Barr, the future Attorney General for Presidents George H.W. Bush and, years later, Donald Trump. Barr had worked for the CIA from 1973 to 1977. He joined Shaw, Pittman, Potts & Trowbridge in 1978, but it is unknown if he worked on any of the accounts linked to this private CIA during his time there.

One lawyer at the firm who was known to represent these interests was Barbara Rossotti, who worked as Clines’ attorney. Rossotti’s name appears in FBI files in connection with what might have been the crown jewel of this entire complex, the Egyptian-American Air Transport and Services Corporation (EATSCO).31 EATSCO was owned by two corporate entities: 51 percent was held by Tersam, a Virginia company opened by an Egyptian intelligence officer turned businessman, Hussein K. Salem, and 49 percent was held by Clines’ SSI. Clines and Salem parked the headquarters of EATSCO at a familiar location: 7777 Leesburg Pike, the same building that was a hub for the emergent New Right networks of Richard Viguerie and his associates.32 To make these ties more compact, Salem was, throughout this period, living in the Ramada Inn located next to the 7777 Leesburg Pike.

According to Clines, the hotel’s bar was a CIA “watering spot.”33 EATSCO functioned as a middleman in arms sales made by the Pentagon to Egypt following the arrangement agreed upon during the Camp David Accords. It inserted itself between the respective militaries and the freight forwarders that were selected to move the cargo. From the get-go, it was clear that this was hardly a normal arrangement. Most Pentagon-related arms sales did not involve “any commercial concern like EATSCO,” which makes it somewhat unsurprising that EATSCO became implicated in a scheme to overcharge the Pentagon for the costs of the shipments.34

One of EATSCO’s men inside the Pentagon – who signed off on the immense prices being demanded by the company – was Richard Secord, the future Iran- Contra co-conspirator. When Wilson’s prosecutor, Lawrence Barcella, was put on the trail of EATSCO in the early 1980s, he was paid a visit by yet another future Iran-Contra conspirator – and close friend of Shackley and Clines – Michael Ledeen. According to the New York Times, Ledeen suggested to the attorney that “any alleged billing abuses might have gone for a covert operation.”35 EATSCO, in other words, might have been skimming Pentagon money and redirecting it to finance the activities of the private CIA.

Indeed, rumors have abounded that EATSCO was covertly running arms to the Mujahideen in Afghanistan and to CIA-backed fighters in other Cold War hot spots. The fingerprints of Edwin Wilson seemed to be all over EATSCO. Journalists linked a series of major loans to SSI made by Wilson to EATSCO, while handwritten notes made by Eugene Tafoya – the former marine employed by Wilson for wetworks operations – made reference to the company.36 A securityequipment supplier used by EATSCO called Systems Engineering International Corporation was owned and managed by Donald Lower, the former manager of Wilson’s sprawling Virginia farm. Incredibly, Systems Engineering International – like all of the other companies in this complex – drew on the legal resources of Shaw, Pittman, Potts & Trowbridge and operated from an office located adjacent to EATSCO at 7777 Leesburg Pike.37

ODD CONNECTIONS

By the mid-1970s, Edwin Wilson had gained control of Joseph J. Cappucci Associates, an “international firm specializing in the protection of heads of state.”38 The company had been formed by US Air Force Col. Joseph J. Cappucci. He had been no stranger to the world of intelligence: during World War II, he had served as a counterintelligence officer for the Army Air Corps and, after the war, he became a liaison between the new intelligence apparatus of the Air Force and the CIA. He later served as the chief of the Air Force Office of Special Investigations.

How Wilson gained control of Cappucci’s company is not clear, nor is there a firm trail of records illustrating the relationship between the two men. What is clear, however, is that it was eventually folded into the byzantine web of the private CIA: Wilson sold his interests in Cappucci to the trio of Thomas Clines, Donald Lowers, and Neil Livingstone (mentioned in the last chapter in connection with Robert Keith Gray and the congressional page boy scandal). The money used to purchase Wilson’s shares reportedly came from “US government expropriation funds collected after an airline Livingstone and a partner had purchased was taken over by the Panamanian government.”39 The airline in question was Air Panama.40

Livingstone himself had spent time in Panama between 1976 and 1979, and there he had been associated with the notorious Mossad operative Michael Harari.41 Harari’s long and twisting career began with a stint in the Haganah, where he acted as a courier at just thirteen years old, later graduating from their elite fighting corps, the Palmach. After the formation of Israel, he joined the Israel Defense Force and was eventually recruited by Mossad. During the early 1970s, Harari led teams across Europe to hunt and target members of Black September, the Palestinian group responsible for the Munich Olympics massacre. Harari’s team had a tendency to leave a trail of dead bystanders and civilians in their wake. Despite this, he was eventually dispatched to serve as head of Mossad’s Latin American operations.

Over time, Panama became the primary site of Harari’s activities. Livingstone, in an article on the spymaster for the Washington Post, wrote that “Panama City had become an intelligence center … a sort of Latin American version of Beirut or Vienna.”42 Harari became particularly close to Manuel Noriega, then serving as head of the country’s intelligence service. Noriega maintained a convoluted intelligence web, simultaneously serving on the payrolls of the CIA and the Cuban intelligence directorate, the Dirección General de Inteligencia. “Noriega’s relationship with the DGI,” writes Livingstone, “became a valuable pipeline of information on PLO (Palestine Liberation Organization) activities for Harari and his superiors back in Israel.”43

By the early 1980s, Harari had been detached from the Mossad – at least in an official capacity – and was making a living as an arms dealer and security specialist for Noriega. José Blandón Castillo, a top Noriega advisor who testified to the Senate Foreign Relations Committee’s Sub-committee on Terrorism, Narcotics, and International Operations (also known as the Kerry Committee), accused Harari of running a “network” that managed a guns-and-drugs pipeline across Latin America.44 It was this same logistical network that laid the groundwork for the later Contra-support efforts.

Harari, importantly, was in close contact with Duane Clarridge – the CIA officer who oversaw those initial efforts. Livingstone’s tenure at Cappucci was among the first of his post-Panama activities. A contract was signed with the Egyptian government of Anwar Sadat to train the presidential security forces. CIAtrained Cuban exile Felix Rodriguez, who had worked under Shackley at both JM/WAVE and in Vietnam, was brought in to oversee the operation. It was part of the arrangements being organized by Wilson and Clines that had produced the EATSCO deal. Both would later tell journalist Morgan Strong that deals such as these were being made through a kickback arrangement in which large sums of money were to be passed to Sadat via Hosni Mubarak in exchange for the contracts.45

EATSCO’s primary support apparatus in these various deals was Global International Airways, a Kansas City-based charter airline and cargo carrier founded in the late 1970s by Farhad Azima. An Iranian-born businessman, Azima had launched the company with the ostensible purpose of transporting “cattle from Nebraska to Iran, until the US cut diplomatic ties after the 1979 Islamic Revolution.”46 It was likely that much more than cattle were being ferried on these flights, considering that Azima was reportedly tied to the shah’s SAVAK.47 Azima launched Global International Airways with the aid of a “multi-million dollar loan from the Commercial Credit Corporation.”48 In the beginning, its fleet consisted of one Boeing 707.49 It quickly grew to be “one of the largest private air carriers in the world, with seventeen 707s, two 727s, and one 747.”50

Joseph Trento suggests that Azima was a front man for the private CIA, with Global International having actually been designed by James Cunningham, who had worked under Shackley in Laos as the manager of the CIA’s Air America.51 While this particular claim cannot be substantiated, there are hints that this network was present at Global International’s inception. For example, at least one of Azima’s pilots had previously worked for Air America. Even more suggestive of a connection is the source of Azima’s loan – the Commercial Credit Corporation. This was the commercial finance-and-lending subsidiary of the Control Data Corporation (CDC), a supercomputer firm that had operated as a high-profile defense contractor since its inception at the end of World War II. CDC would later make an appearance on the periphery of the PROMIS scandal, also known as the Inslaw affair (the subject of chapter 9).

Around 1976 – shortly before Commercial Credit provided Azima with the start-up capital for Global International Airways – Control Data Corporation hired Edwin Wilson as a consultant with the hopes of leveraging the spook’s contacts “to unload some outdated computers on Third World countries.”52 The arrangement between the two, however, seems to have been much greater than simple export affairs. Wilson was subsequently accused of having bugged the offices of the US Army Materiel Command in order to obtain “inside information … on bidding and procurement plans” on behalf of the corporation.53

Before Global International Airways went bust in the mid-1980s, Azima ran up huge debts with several financial institutions – most notably Indian Springs State Bank in Kansas, which underwent its own collapse in tandem with Global International. Azima had been brought on as a director for the institution, while its vice president, Anthony Russo, acted as a “financial consultant” for Global International.54 Russo had previously been a high-profile Kansas City criminal attorney, notorious for representing members of the Civella crime family. In the investigation that followed the bank’s insolvency, it was revealed that Russo had brought Civella interests into the fray. Their accounts at the bank, one state banking examiner found, were “habitually overdrawn.”55 Indian Springs also provided massive loans to the Dunes Hotel and Casino in Vegas, which was at the time under the control of Morris Shenker. Shenker had previously been Jimmy Hoffa’s attorney and was no stranger to suspect financial wranglings, as he had been intimately involved with the corruption plaguing the Teamsters pension fund. He personally guaranteed the loan from Indian Springs to the Dunes, while Azima had sponsored it. Global International was at the heart of these business transactions as the airline “had a contract with some Las Vegas hotel-casinos to fly junkets.”56

Clearly, this emergent network was like an octopus, with far-reaching tentacles reaching out in all directions and intertwined with seemingly legitimate businesses. The ghostly traces of this network’s presence could be found in all types of corruption. One strange nexus, touched on briefly by journalist Pete Brewton, was the complex of companies set up in Louisiana by Charles F. Haynes and Vaughn R. “Bobby” Ross.57 Ross was a pilot with a military service record, and Haynes was a “timber man.” In 1979, they formed Commercial Helicopters, which amassed a fleet of over thirty aircraft in just three years. The primary business of Commercial Helicopters was providing transportation to and from the numerous oil rigs that dotted the Gulf of Mexico. Yet, there is also evidence that the company had a strange, darker underbelly. Haynes and Ross, for example, leased helicopters from Flying Tiger Line, the company that was linked so closely to the China Lobby and to Anna Chennault and Robert Keith Gray. There were also connections to the network of ex-CIA operatives. Brewton notes that Commercial Helicopters “provided parts and services to a helicopter company in Guatemala” called Helicopteros de Guatemala.58

Helicopteros was managed by Carl Jenkins, a veteran of the CIA’s anti-Castro operations. Operating from outposts in Florida, Mexico, and the Caribbean, Jenkins had been the case officer for a number of important Cuban exiles, including Rafael Quintero and Manuel Artime – both of whom had reappeared in the circles that surrounded Shackley, Clines, and Wilson.59 Ted Shackley stated, during his questioning as part of the Congressional Iran-Contra inquiry, that he knew Jenkins and had last encountered him in the offices of Thomas Clines, which Jenkins was also using.60 Given the location and the time frame, this was likely API Distributor’s Houston offices, which, as mentioned earlier, were operating from the same offices of Wilson’s freight forwarder. Gene Wheaton, a close associate of Jenkins – and one of the early Iran-Contra whistleblowers – told Brewton that he had crossed paths with Ross, having been introduced by the “crowd around Ed Wilson.”61 The 2018 obituary of Ross states that he served a tour in Vietnam from 1969 to 1970, where he was a pilot in the 57th Assault Helicopter Company.62 During this same year, the 57th was tasked with providing “support to the Military Assistance Command Vietnam Studies and Observation Group in their mission to send reconnaissance teams into Laos and Cambodia to locate and interdict North Vietnamese Army (NVA) infiltration routes and their sources of supply.”63 Ross, in other words, was in direct proximity to the secret war in Laos, the CIA wing of which was being run by Shackley and his cronies.

Wheaton’s claim about the business affairs of Ross and Haynes included the allegation that Commercial Helicopters had, in fact, purchased API Distributors. Ross denied to Pete Brewton that this was true – but, oddly enough, Haynes formed a company called API Oil Tools & Supply. While this company, like Commercial Helicopters, was registered in Louisiana, the bulk of its business – leasing “power tongs, an oil drilling tool” – was located in Houston, Texas.64 Crucial financing for Commercial Helicopters and API Oil Tools & Supply came from Herman Beebe, the financial brain behind a network of banks and savings and loans that sprawled Louisiana, Texas, and other surrounding states. Beebe – who was later implicated in the massive collapse of numerous savings and loans in the 1980s – had long-standing ties to the criminal underworld, some of which went right to the top of the major American Mafia families.

According to Stephen Pizzo, Mary Fricker, and Paul Muolo, Beebe “had been arrested in a New York restaurant with East Coast Mafia boss Carlo Gambino and Florida boss Santo Trafficante” in 1966.65 He was further linked, by a number of law enforcement sources, to Trafficante’s close partner Carlos Marcello, the don of the New Orleans Mafia whose empire extended well into Texas. In 1972, US Customs agents and police raided a Shreveport, Louisiana, warehouse owned by Beebe; inside, explosives and rigging devices that were destined for anti-Castro Cuban groups were found.66 Though Beebe never faced charges in relation to the incident, numerous conspirators were arrested, among them a close associate of the Gambino family, Murray Kessler. Another was the pilot who had been hired to ferry the explosives – none other than Barry Seal, the infamous drug pilot who operated on the CIA payroll and who would later be implicated in running Colombian cocaine in conjunction with covert Contra-support operations. “Bobby Ross,” wrote Brewton, “was a longtime close friend of Barry Seal. ‘We grew up together,’ Ross said.”67 This raises the possibility that Seal was connected, at a very early stage, to Shackley’s network.

BUSH’S WEB

ournalist Pete Brewton, in his study of the savings and loan crisis, reported on the possibility that another – though perhaps related – private-intelligence network was also being formed during this period. The architect of this network was George H.W.Bush. Reportedly, Bush had expressed to Jimmy Carter his willingness to stay on as head of the CIA, only to be rebuffed. Bush subsequently returned to Texas and started anew, alongside his close associates and various business partners.

According to one of Brewton’s sources, Bush’s main ally was William Blakemore II, an oilman-rancher hailing from Midland, Texas.68 Buried deep in the voluminous materials compiled as part of official inquiry into the Iran-Contra affair is Blakemore’s name: he served as president of the Gulf and Caribbean Foundation, a “philanthropic” body used to move funds raised by private donors to the Nicaraguan Contras.69

Another source gave Brewton a different set of names: Walter Mischer, a Houston real estate mogul and banker (and friend of Blakemore), and his son-inlaw Robert Corson.70 In 1991, Corson was found dead in an El Paso motel after being indicted for money laundering and fraud. Those charges connected Corson to a succession of bizarre financial dealings that involved a string of saving and loans, as well as large mainstream banking institutions.71 Among the sources that Brewton cites is Richard Brenneke, an infamous CIA-adjacent arms dealer and money launderer who became a whistleblower for both the October Surprise and the Iran-Contra affair. “According to Brenneke,” Brewton writes, “Corson worked with him in laundering money for the CIA.”72 Interestingly, Brenneke’s moneylaundering activities were, according to Gordon Thomas, of immense interest to Israeli intelligence, which allegedly studied his methods with the aid of the PROMIS software. PROMIS, and Robert Maxwell’s intimate involvement in that operation on behalf of Israeli intelligence, is discussed in greater detail in chapter 9.73

Brewton, meanwhile, further suggests the possibility of Corson’s involvement with Israeli intelligence: “A Texas law enforcement official who has worked with intelligence agencies confirmed Corson’s work for the CIA. This officer said that Corson also did work for the Israelis but may not have known it, because there were several layers of cut-outs between Corson and the Israelis.”74

Given this possible connection not only to American but Israeli intelligence, there is perhaps significance to the fact that there were direct ties between Walter Mischer and Texas Senator John Tower – the George Town Club member whose activities in the late 1980s were intimately intertwined with those of Robert Maxwell. As will be detailed in chapter 9, Maxwell, an Israeli intelligence asset since the early 1960s, had helped place Tower himself on the payroll of Israel intelligence in the 1980s.

Mischer’s ties to Tower came through Mischer’s position as something of a political kingmaker. Mischer, according to press reports, had a “virtually unrivaled ability to raise cash for politicians,” and he lent his talents to both Democrats and Republicans.75 While he could often be found backing Democrats like Lloyd Bentsen, he had also “long been a backer of Republican John Tower.”76

Mischer’s rise to the heights of Texan political power came through extensive holdings in construction, manufacturing, real estate and banking. According to his obituary, Mischer, during World War II, had worked as a project manager at Stone & Webster, a major East Coast engineering concern that had become a major defense contractor that, among other things, designed and built the laboratories utilized for the Manhattan Project. During this time, he worked with the company to construct “naval bases in the Caribbean.”77

After the war, he became entangled with a web of development companies, the most important of which was the Mischer Corporation, which he owned until his death. The Mischer Corporation “own[ed] thousands of acres of prime development land in the Houston area, while affiliated companies do street paving and sell air-conditioning units to home builders.”78Another Mischer company, organized in partnership with his close friend and colleague Howard L. Terry, was Marathon Manufacturing, which produced heavy industrial equipment. Marathon specialized in oil equipment and offshore drilling platforms, having acquired one of the leading companies in this field, R.G. LeTourneau Inc., in 1970. LeTourneau’s first offshore oil platform had been built for Zapata Petroleum, the CIA-linked oil company founded by G.H.W. Bush.79

In 1979, Marathon was purchased by Penn Central, a company that, along with its then-owner, Carl Lindner, will be discussed at length in chapter 10. As a result, Mischer and Terry ended up with a significant chunk of Penn stock.80 In 1986, the pair sold their Penn stock to the tune of $106 million. The most important node of the Mischer complex was Allied Bancshares, a sprawling holding company that Mischer controlled and which owned numerous banks across Texas. Allied’s board was stacked with Mischer’s close contacts, and provides an inside look at his sprawling “old boy’s network,” a network quite possibly utilized by Bush after his ouster as CIA director.

Among Allied’s board members was the aforementioned Howard Terry, as was Gerald Smith, who was something of Mischer’s “right-hand man.”81 Smith’s own banking interests extended beyond Texas and into Louisiana, with apparent ties to organized crime and intelligence. Smith was co-owner of a bank with Herman Beebe, the S&L fraudster and mob insider discussed earlier in this chapter.82 Beebe’s own networks of banks and S&Ls were reportedly financed with heavy loans from Allied.

During the 1980s, Allied’s co-chairman was one of Mischer’s longtime associates, Houston investor Jack T. Trotter. Trotter is described in a 1987 issue of Texas Monthly as having been a “[b]ehind the scenes player in setting the course of the Houston business community” with an “enormous network” of “people he has made rich by his deals.”83 Trotter maintained a decades-long business relationship with the powerful Duncan family, lorded over by the patriarch John H. Duncan Sr.84 Duncan Sr., in the late 1960s, was a director of the Bank of the Southwest – the Texas banking institution discussed in the previous chapter as being linked to a number of CIA funding conduits. Trotter and the Duncan family embarked on a number of business ventures with Gerald D. Hines, another Houston developer and Mischer associate whose impact on Houston can be seen in his ambitious construction projects, including the headquarters of Shell and Pennzoil, as well as the Galleria shopping district (a location that, as we will see in the next chapter, may have played a role in land speculation schemes linked to Iran-Contra).85 Perhaps significantly, Hines will be encountered again in Columbus, Ohio, as the developer and owner of the building where Leslie Wexner parked his tangled web of real estate and other holding companies, including companies mentioned that were mentioned by Columbus police in connection with the murder of his company’s tax attorney.

A final Allied director worth mentioning is George A. Butler, then the senior partner at the powerful Houston law firm of Butler, Binion, Rice, Cook and Knapp. Alongside Trotter, he maintained a spot on the board of the Gulf Resources and Chemical Corporation of Houston. Gulf Resources had been founded with the aid of Joseph Patten, a general partner at Bear Stearns. Another Bear Stearns partner named Raphael Bernstein maintained a place on the Gulf board well into the 1980s.86 Considered a major national security concern due to the role it had played in producing the bulk of the US’ lithium supply – essential for, among other things, nuclear weapons – Gulf Resources achieved notoriety in the 1970s when the company’s president, Robert H. Allen, smuggled funds via a Mexican subsidiary and bank to Nixon’s Committee for the Re-Election of the President. These funds were then utilized by the Plumbers to finance the Watergate break-ins.87 Allen would, at one time, serve as the campaign finance chair for one of John Tower’s senate campaigns.

The movement of the Gulf Resources money towards its ultimate destination was largely facilitated by Bill Liedtke, the founder and president of Pennzoil. Along with his brother, J. Hugh Liedtke, Bill was one of George H.W. Bush’s original business partners: they had formed part of the original group that created Zapata Petroleum. In 1959, Bush and the Liedtkes “decided to split Zapata into two companies,” with one half becoming Zapata Offshore, and the other half becoming Pennzoil.88 A 1976 Senate Committee on Interior and Insular Affairs report lists Bill Liedtke as a director of the Bank of Texas.89 This was almost certainly the Continental Bank of Texas – headquartered in the (Gerald Hines-designed) Shell Plaza in Houston – which had been formed in 1973 through a merger between Continental Bank and the Bank of Texas.90 The President of the merged bank was Gerald Smith, while the chairman was George Butler. The presence of these two Mischer cronies is no accident, as Continental Bank of Texas was operating under the umbrella of Allied Bancshares.

At the time that Bush was purported to have been organizing his own private intelligence web, he was also making his own forays into the world of banking. On February 23rd, 1977, the New York Times reported that he had “been elected a director of First International Bancshares,” a large Houston bank holding company.91 At the same time, he was appointed to the board of its largest holding, First International Bank, and its London merchant bank subsidiary, First National Bancshares Ltd. Russ Baker, in his history of the Bush family, writes that “First International was not your friendly neighborhood bank. Rather it was a Texas powerhouse whose principals reached well beyond banking into the netherworld of intelligence and intrigue.”92 It was particularly close to Saudi interests, which at the time were investing heavily into Houston real estate and industry, a by-product of Texas oil interests taking hold in the Middle East and the Gulf states. FIB reportedly held a “revolving line of credit for Salem bin Laden,” while multiple sources have linked it to the Bank of Credit and Commerce International – a powerful and deeply corrupt institution detailed in the next chapter.93

Joe L. Albritton, the longtime chairman of Washington, DC’s Riggs Bank, maintained a post as director of First International. Riggs was described by the Wall Street Journal as having “had a longstanding relationship with the Central Intelligence Agency,” and maintained accounts for a number of infamous figures. Among these was Prince Bandar bin Sultan, the Saudi ambassador to the United States from 1983 to 2005 whose contact information would later appear in Jeffrey Epstein’s contact book.94 In early 2005, Riggs pleaded guilty to money laundering charges resulting from an extensive Justice Department inquiry into the bank’s activities.95

Sitting alongside Bush and Albritton on the board of First International was John Murchison of the Murchison oil family. John Murchison was less known that his counterparts, Clint Murchison Sr. and Jr., but was by no means less prolific when it came to oil and gas holdings and other business concerns. Interestingly, in 1982, John’s son John Murchison Jr. was appointed to the board of Gulf Resources and Chemical Corporation following the firm’s takeover by a shadowy British businessman-turned-“tax exile” in Switzerland named Alan Clore.96

First International appears to have been closely linked to Ling-Temco-Vought (LTV), a major Dallas-based defense contractor that provided the US military with, among other things, light attack aircraft during the Vietnam War. John Murchison was listed among the directors of LTV, as was the independent oilman Edwin L. Cox, also found on the board of First International.97 In 1970, LTV’s board was run by a prominent Texas businessman named Robert H. Stewart III, who, two years later, would organize First International as a holding company for First National Bank and serve as the institution’s long-running chairman.98

Much like Walter Mischer, Stewart was incredibly connected both economically and politically. The 1970 New York Times announcement of his takeover of the LTV board notes that Senator John Tower was his “very good friend.” That same article attributes the following quote to Stewart: “I’ve always been on the conservative side of politics. Some people refer to me as being a little [to] the right of Louis XIV.”99 He maintained positions on the boards of numerous major corporations, including a position as a director at Pepsi from 1965 through at least 1995. Between the 1960s and 1970s, he was affiliated with Braniff Airways, which for a time was a subsidiary of LTV. During the 1980s, Mischer served on the board of this same aviation company.100 One important corporate connection for Stewart was his presence at ARCO, formerly known as Atlantic Richfield, in the 1980s. This was the petroleum company of Robert O. Anderson, a close associate of the Rockefeller family who spent time at the Council on Foreign Relations at the same time as George H.W. Bush.101

The precise relationship between Anderson and Bush is hard to pin down – but one telling episode involves Atlantic Richfield’s role in developing the expansive Trans-Alaskan pipeline system. Service for Anderson’s companies was provided by the aviation companies of Phil Bergt, which included Interior Airways and later Alaska International.102 In 1974, a young George W. Bush traveled to Fairbanks, Alaska, where he took a job working for Bergt. When asked by Russ Baker how exactly the younger Bush came to be in his employ, Bergt stated that it was as a favor to “someone from a Houston construction firm.”103 This becomes all the more curious when considering Bergt’s claims that Alaska International became embroiled in intelligence work after the election of President Carter – in other words, right when Bush was purported to have been setting up his intelligence network. These were off-the-books operations, Bergt told Baker, “after Jimmy Carter went in, gutted the CIA, and almost ruined them.”104 He further alleged that his connection to the Agency persisted into the Reagan administration, and that his company had provided support to Southern Air Transport during the Contra years.

W ho was the individual from the Houston construction firm that brought W. Bush to Bergt’s attention? It’s impossible to say, but one possibility is that it was Walter Mischer himself. Nothing directly linking the two men has yet been found, but they both shared a mutual association with Robert O. Anderson. In the early 1950s, Mischer began accumulating land near Lajitas, a small town in West Texas near the US-Mexico border, and Anderson followed suit in the 1960s by setting up his Big Bend Ranch. By the early 1980s, the two joined forces, with Anderson selling half of the ranch’s ownership to Mischer with big plans to “syndicate the land” and sell “shares to selected colleagues in the Texas establishment.”105 Throughout this whole period, Anderson maintained an intriguing business contact: Clermont Club member Tiny Rowland, a figure that, as will be discussed later in this chapter and elsewhere in this book, was tied to American and Israeli intelligence services, and played a rather murky role in the Iran-Contra affair. First introduced by the shadowy tanker magnate and billionaire Daniel K. Ludwig, Anderson had sold his ownership of the British Observer to Rowland in 1983.106 Several years later, Anderson departed ARCO to focus on his private company, Hondo Oil & Gas. According to the New York Times, the company was “equally owned by Mr. Anderson and the British conglomerate Lonrho P.L.C.” – a global corporate empire overseen by Rowland.107
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Re: One Nation Under Blackmail, by Whitney Webb

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Part 2 of 3

THE SAFARI CLUB

In his book on the Shackley-Wilson private CIA, Joseph Trento describes how this ensemble of quasi-official intelligence operatives forged a working partnership with a shadowy covert apparatus known as the Safari Club.108 This was a meeting space for the heads of numerous intelligence agencies that were allied with the United States in those increasingly heated days of the Cold War. Organizers of the club included Kamal Adham, the director of Saudi intelligence, as well as his nephew and successor Turki bin Faisal al Saud. Accompanying them was General Nassiri, head of Iran’s SAVAK; Ahmed Duleimi, the Moroccan intelligence director; and Alexandre de Marenches, the head of France’s Service de Documentation Extérieure et de Contre-Espionnage (External Documentation and Counter-Espionage Service or SDECE). The motivating factor for the club’s formation was similar to that which had spawned Shackley’s group. The rise of a reformist tendency within US intelligence and the political system at large limited the ability of the CIA to operate as it once had. It was into that void that the Safari Club hoped to step.

Turki bin Faisal discussed the club and its activities during a speech at Georgetown University:

In 1976, after the Watergate matters took place here your intelligence community was literally tied up by Congress. It could not do anything. It could not send spies, it could not write reports, and it could not pay money.… In order to compensate for that a group of countries got together in the hope of fighting Communism and established what was called the Safari Club. The Safari Club included France, Egypt, Saudi Arabia, Morocco, and Iran. The principal aim of this club was that we would share information with each other and help each other in countering Soviet influence worldwide, and especially in Africa.109


Iranian journalist Mohammed Heikal, in Iran: The Untold Story, describes how bin Faisal’s remarks reflected the development of a series of critical geopolitical alignments that had been emerging since the early 1970s.110 The Saudi and Iranian governments were both turning toward Africa as a source of raw materials and as an emerging market. For them, there was a need to curb the influence of the Soviet Union on the continent, which was then being felt throughout the myriad of blossoming anti-colonial movements. These movements challenged the continued dominance of European powers, particularly that of France, whose African interests encompassed the global trade in uranium, diamonds, and gold. As a result, a triangular relationship began to take shape.

The backbone of the club involved not only intelligence sharing but also economic arrangements that parlayed into a lucrative arms trade. Egypt became a hotbed of Safari Club activity, with Cairo featuring its first “operation center.” This center was “equipped to evaluate what was going on in Africa, identifying the danger spots, and to make recommendations for dealing with them.”111 At the same time, Saudi Arabia was lending its Egyptian allies large sums of money, which were then used to purchase French-produced weapons that soon flooded African conflict zones. Given that the Saudis provided the financing, Trento writes, they effectively ran the show. In order to function properly, the Safari Club required a banking apparatus to marshal and direct its economic resources. The vehicle of choice was the colossus of dark money and offshore finance known as the Bank of Credit and Commercial International, discussed at length in the next chapter. While nominally a Pakistani merchant bank, BCCI was also backed by the Saudi intelligence directorate, which in turn was closely integrated with the country’s ruling elite. Likewise, BCCI maintained branches across Europe and the Middle East; in Cairo, a pivotal city for the Safari Club, the Egyptian branch of the Arab International Bank operated as a BCCI affiliate.

The Arab International Bank curiously appears as a footnote, albeit perhaps a significant one, in the history of the US savings and loan crisis. Employed at this offshore bank for some time as treasurer was Mario Renda, later renowned for depositing a flood of money from Teamsters union locals in New York City into various thrifts across the United States. Many of them were intimately intertwined with organized crime, and many also subsequently collapsed. According to the testimony of “Colombo family lieutenant” Lawrence Iorizzo, Renda had been “handling business for Paul Castellano,” the boss of the Gambino crime family.112 Prior to these interesting career turns, Renda had formed a business partnership with a man who was no stranger to the world of the BCCI, arms deals, and shadowy intelligence networks at-large: Adnan Khashoggi. The Safari Club owed much to Khashoggi. The name of the group had come from its first meeting place, the Mount Kenya Safari Club in Nanyuki, Kenya, which Khashoggi had purchased in the mid-1970s. Once a hangout of the older generation of Hollywood stars, the international jet set, and a slick-heeled group of globe-trotting American mobsters, the hotel and its surrounding acres had been purchased by the arms dealer for a mere $900,000. Among Khashoggi’s first acts was to dial up the location’s exclusivity: press reports from the time allude to his plans to close the resort and “use it all for himself.”113 This wasn’t exactly accurate. Khashoggi’s plan, it seems, was to market the facility to an even more select clientele – and to use it as the private meeting place for the sorts of figures who inhabited the same, strange netherworld.

Notably, Khashoggi was not the first intelligence-linked figure to be involved with the Mount Kenya Safari Club. Most accounts of the club note that its rise had been facilitated by its owners: William Holden, the actor and close friend of Ronald Reagan, and Ray Ryan, a professional gambler and businessman with extensive ties to the “hoodlum element.”114 They had acquired the properties around 1960; but a year earlier, they had visited the club in the company of columnist Robert Ruark – whose syndicated newspaper writings framed him as an international adventurer with a strong taste for the exotic – and Ruark’s good friend Ricardo Sicre. As Ruark tells it, he and Sicre had convinced Holden and Ryan to purchase the Safari Club.115During World War II, Sicre had served in the OSS, participating in the North African and Mediterranean theaters in a covert group under the direction of Frank Ryan.116 Outside of the world of intelligence, Ryan had been a prominent businessman involved in several import/export firms with a focus on textiles. These business skills came in handy after the war, when veterans of the OSS and the British intelligence apparatus – and a number of British merchant banks, Canadian industrialists, and US financiers – formed the World Commerce Corporation (WCC). Ryan served as the WCC’s president and Sicre, as its vice president.

While the WCC remains largely unknown, there has been increased interest in its activities, and various writers and researchers have emphasized different aspects of the corporation.117 Most focus on its function as a commercial cover for intelligence activities, while others such as Steven Snider have assessed the WCC in terms of the “special relationship” that exists between the US and the UK.118 Anthony Cave Brown, the biographer of OSS founder and head William Donovan – one of the primary movers behind the scenes of the WCC – links the firm to efforts to rebuild European industry in the aftermath of World War II, while Ralph Ganis parses out the linkages between the WCC and the construction of the industrial infrastructure for NATO.119 When the WCC was first created, it was reported that its purpose was to bring to an end the dollar shortages of the postwar era. Such a task was vital for the formation of an international economic order that was to be led by the US and its European allies. With holdings and interests in mining, oil, natural gas, film, shipping, agriculture, and tourism, the WCC did indeed pursue this goal. Was the Holden-Ryan development of the Mount Kenya Safari Club, carried out at the encouragement of WCC’s vice president Ricardo Sicre, part of this international dollar-recycling effort?

The idea is not as outrageous as it might sound. As early as 1945, President Roosevelt and Juan Trippe – the founder of Pan American World Airways – were locked in discussions about the role international tourism and luxury resorts would play in attracting dollars to the developing world. Trippe was the brother-in-law of Edward Stettinius Jr., President Roosevelt’s secretary of state, who had a spot on the WCC board until his untimely death in 1949. To accomplish the goals he had conceived with Roosevelt, Trippe organized Intercontinental Hotels. Decades later, Adnan Khashoggi tapped Intercontinental to manage the Safari Club.120 Scratching the surface of Khashoggi’s own Safari Club takeover also reveals the presence of intelligence assets. He had been introduced to the club by his public relations manager, Edward K. Moss, who had been a longtime member. Moss was also working as a consultant for the Kenyan government, while Khashoggi had his own business in the country – he was privy to the details of “a planned beach resort and a World Bank study that projected millions of dollars for the area.”121 These various strands converged at the Safari Club. As his biographer writes, Khashoggi felt that the locale “was a Shangri-La.”122

As far back as 1962, Moss had connections to the CIA. That year he was cleared for ZR/MAJOR, a CIA operation that entailed “the exploitation of political consultants.” While few details exist as to the exact purpose of the operation, it was run by the Political Action Group of the Covert Action Staff, which in turn was overseen by Cord Meyer.123 It was not Moss’ first encounter with the Agency: a handwritten memo states that he had “obtained a covert security approval in 1959.”124 Yet another CIA document refers to Moss as acting as the “assistant for raising funds against Castro and for public relations matters” to Tony Varona, the leader of the CIA-backed Cuban Revolutionary Council.125 Varona is not only known for being one of the CIA’s chief assets in their covert war against Castro’s Cuba, he was also one of several figures who were connected to the Agency and organized crime figures Santo Trafficante and John Roselli. CIA files make it abundantly clear that Moss was working deeply with-in this nexus where organized crime and intelligence mixed. The aforementioned handwritten memo alludes to Moss’ “long-standing ‘mafia’ connection” before noting that his “operation seems to be government contracts for the underworld and probably surfaces mafia money in legitimate business activities.”126 The Moss file reports a rumor that Julia Cellini, sister of Dino Cellini, was Moss’ mistress and operated a “secretarial service” that was in reality a “front for Edward K. Moss’ activities.” Moss, furthermore, moved money from Dino Cellini to Varona – yet another clear example of CIA–organized crime collusion. Throughout the 1950s, Cellini was Meyer Lansky’s point man in Cuba and helped manage several major National Crime Syndicate casinos: the Riviera Casino and the Tropicana Club. As noted in the last chapter, Cellini’s activities brought him into close contact with Charles Tourine and Joe Nesline.

Peter Dale Scott points out that this nexus raises the specter of human trafficking and the deployment of sex as a means of political influence. The Cellini siblings were described in FBI files as active participants in the trade of narcotics and “white slavery rackets.”127 Scott adds that this “FBI report suggests an important shared interest between Moss and Khashoggi: sexual corruption.”128 More on Khashoggi’s alleged role in sexual blackmail is discussed in the next chapter as well as chapter 11. Incredibly, the source of the information linking Moss to organized crime was none other than Edwin Wilson. A CIA internal memo drafted in 1973 states:

Wilson stated that he had met Moss in 1966 through Frank O’Connell, Washington representative of the Transport Workers Union. The memorandum also suggests that one of Wilson’s business associates, Richard S. Cobb, was also having business contacts with Moss.… Wilson stated that ‘subsequent investigation surfaced from [business analysis firm] Dun and Bradstreet and a verbal report from Dun and Bradstreet recognizing Moss’ longstanding “Mafia” connections.’ Moss’ operation seems to be government contracts for the underworld and probably surfaces Mafia money in legitimate business activities.129


One cannot help but wonder if 1966 was really the earliest encounter between Wilson and Moss. As mentioned earlier, Wilson’s early tenure in the Agency included a long stint operating under the auspices of the CIA’s work with the AFLCIO, which was overseen by Cord Meyer’s International Operations Division. In March 1962, the International Operations Division merged with the Covert Action Staff, with Meyer maintaining control of both. The Covert Action Staff under Meyer was, as previously mentioned, the wing of the CIA that oversaw ZR/MAJOR, the operation that Moss had been cleared for. It is certainly plausible that Wilson and Moss crossed paths at this earlier stage. Further indications of the close-knit nature of this network of individuals comes through JM/WAVE, the Miami station that oversaw the Cuban exile operations to which Moss was also connected. Shackley and Clines, Wilson’s closest CIA contacts, spent considerable time there.

This entire complex was hidden away in the shadows. Through Shackley, the Safari Club was linked with powerful forces within the domestic opposition to Carter. The president himself, writes Trento, “had never been briefed on the Safari Club.”130 This was despite advancing corruption within his own administration, as evidenced by certain Carter officials, such as Clark Clifford, playing a fundamental role in BCCI’s penetration of the US banking system. By 1980, elements interwoven through the Safari Club network and Shackley’s private CIA were mounting international opposition to Carter, laying the groundwork for the arrival of soon-to-become president Ronald Reagan.

Critical to this effort was a series of meetings held by Le Cercle, a quasi-formal group composed of representatives from conservative military, intelligence, and business circles in NATO countries. Since its inception in the 1950s, Le Cercle had been carefully nurtured by US, British, and French intelligence assets in tandem with German and Italian industrialists. The upcoming US election was a topic of conversation at a June 1980 Le Cercle meeting held in Zurich, with the minutes making reference to the “shattered remains of [Carter’s] foreign policy” and a “discussion … about a series of appropriate measures to promote the electoral campaign of Presidential candidate Reagan against Carter.”131

Among those attending this Le Cercle meeting was Donald Jameson, an old CIA hand who had retired to take a job at Tetra Tech, a contractor with extensive interests in the Middle East. Tetra Tech, which was suspected by authorities of being tied to BCCI, had been founded by another CIA veteran, James Critchfield. Both Critchfield and Jameson were close to Shackley, and both were attached to his Research International Associates – a key node in the private CIA network.132

Several days after this Le Cercle meeting, another participant, Brian Crozier – who, coincidentally, answered for many years to Meyer in the Covert Action Staff – met personally with Ronald Reagan in Los Angeles. Shortly thereafter, the French intelligence chief, Alexandre De Marenches, met with Reagan’s new campaign manager, William Casey, in Paris. David Teacher, in his lengthy study of Le Cercle, points out that this meeting occurred a month prior to the infamous meetings in Madrid that are suspected to have led to the infamous October Surprise plot, whereby representatives of Reagan’s campaign are said to have conspired with Iran to delay the release of hostages until after the 1980 election in order to influence that election’s outcome. Teacher states: “De Marenches was well-placed to advise Casey on the Iranian hostage crisis; he had been the driving force behind the creation of the Safari Club, founded in 1976 to coordinate covert operations between the French, Iranian, Saudi, and Egyptian intelligence services.”

CASEY’S EARLY WARS

illiam Casey is best remembered as the hawkish director of the CIA during the final stage of the Cold War – an individual who, to some, strove to reorient the Agency away from the direction it had taken under the Carter administration and, to others, somebody who permanently stained the Agency with the mark of scandal. It was under Casey’s watch that the so-called Iran-Contra affair (a misnomer, designed to conceal the Reagan administration’s drive toward global covert war-fare) flourished. By the time he died in early May 1987 from a fast-moving brain tumor, the scandal had broken wide open, and, one by one, his former colleagues, underlings, and frontmen were being called to testify.

Casey’s story, however, started long before Oliver North and Richard Secord arrived on the scene. It began with his education under the Jesuits at Fordham University in New York City, which had kindled a life-long animosity toward anything that bore the faintest hint of socialism and an affinity for the Knights of Malta, to which he belonged. According to Leo Cherne, who later led the CIA- financed International Rescue Committee, Casey was a prototypical Cold Warrior by the 1930s. “Bill, from the beginning, was to the right of Attila the Hun,” said Cherne. When it came to the conflict unfolding in Spain, Casey “was one hundred percent for Franco … to understand this, you had to understand his Catholicism.”133

Cherne’s early acquaintance with Casey had come through the Research Institute of America, an economic analysis and publishing venture both were involved in. While the RIA strove to be nonpartisan, Casey deeply opposed the Roosevelt administration’s New Deal. The policies, he felt, smacked of socialistic impulses and restrained the free functioning of the private sector. This political orientation opened doors for Casey in certain circles of New York politics, while the analytic capabilities he had honed at the RIA opened others. In the short term, however, he worked at the law practice he had formed with his friend Jerry Doran called Backer, Casey, Doran and Siegel. When that did not pan out, he went to work at the Board of Economic Warfare.

The Board of Economic Warfare was one of many byzantine wartime bureaucracies that had been created to deal with the immense logistical quandaries posed by a truly global war effort. Casey joined the organization in September 1942 as a consultant, but he quickly grew bored with it. He then found himself in the Navy, but he found himself detailed to the Office of Naval Procurement, where he carried out basically the same tasks he had at the Board of Economic Warfare. Then he began to hear rumors about the Office of Strategic Service, led by William Donovan. As luck would have it, Jerry Doran had joined up with Donovan’s law firm. Through this contact, Casey was able to arrange a meeting with Otto Doering – “Donovan’s right hand man at the OSS” and also a senior partner at Donovan’s law firm. Casey soon found himself in London, the base for all OSS operations in Europe.134

The OSS London station was overseen by David K. E. Bruce. Much has been made of the close-knit relationship between the OSS and the moneyed elite – America’s practical aristocracy populated by dynasties such as the Mellons, Harrimans, DuPonts, and Morgans. Bruce, too, was a product of this world: he was married to Ailsa Mellon of the prominent Pittsburgh family. Paul Mellon – Ailsa’s brother – served in London under Bruce. Although Ailsa Mellon and David Bruce divorced in 1945, Bruce seems to have stayed in contact with the family. During the early days of his tenure as US ambassador to the United Kingdom, he was acquainted with one of the family’s young heirs, William Mellon Hitchcock. As noted in chapter 4, both would play a role in the Profumo Affair.

Nominally, Casey was a rank-and-file member of the secretariat, a cog in the intelligence machinery who spent his time drafting reports to be passed to the upper brass. Perhaps because of Casey’s experience in bureaucracy and background in research and analysis (or perhaps because of his economic ambitions), Casey and Bruce developed a close working relationship that propelled the future CIA director far beyond the ground floor of the OSS.

Through Bruce, he was promoted to the service’s inner sanctum, the elite social matrix that made up the center of power within the intelligence apparatus. Soon, Casey was granted the title of chief of the OSS Secretariat in the European Theater of Operations – a position that made him “Donovan’s troubleshooter” on the Continent.135 Another well-connected OSS man at the London station – who later inherited Bruce’s position – was J. Russell Forgan. Forgan hailed from the high- finance circles of Chicago. His father, David R. Forgan, and his uncle, James B. Forgan, served as presidents of the First National Bank of Chicago. Investors in this historic institution included Morgan and Harriman interests and James Stillman, a close ally of the Rockefeller family. James Forgan had also served on the first board of the Federal Reserve. Russell Forgan followed in his family’s footsteps and ingratiated himself with the world of Chicago banking. Then, abruptly, in the mid- 1940s, as World War II rumbled to a close, he and William Casey found themselves tasked with a very different kind of business. As Joseph Persico notes:

General [Donovan] summoned his senior staff and told them that this war had forever ended the isolation of the United States. He directed an OSS colonel, J. Russell Forgan, to head up a committee, as he put it, “to study the need for our country to establish on a permanent basis, as an integral part of the military, a strategic intelligence agency.” Bill Casey was to serve as the committee’s secretary. The assignment was to bring Casey in at the creation of what would ultimately metamorph into the Central Intelligence Agency. As he would tell his staff at Langley thirty-seven years later, “I was there in the beginning. Nobody saw me. But I was there.”136


After the war, Casey continued to inhabit intelligence, military, and defense circles. This can be seen in his often overlooked role in cofounding a national security think-tanked called the National Strategy Information Center (NSIC) in 1962. The NSIC was essentially an offshoot of a National Security Council propaganda outfit called the Institute for American Strategy, as evidenced by NSIC’s cofounder, Frank Barnett, having served there as program director.137 The NSIC maintained a presence in intelligence circles over the years and through Casey’s time as CIA director. It accumulated familiar faces on its board of directors, including Thomas Moorer. Likewise, NSCI seminars on special operations and Cold War geopolitical activities were attended by such people as Ted Shackley and Oliver North.138

When he wasn’t running Cold War propaganda organizations or practicing law, Casey spent his days pursuing a future in politics. He planted himself firmly in the wing of the Republican Party that was opposed to the Nelson and David Rockefeller centrist faction. His sympathies were with the so-called fiscal conservatives and the militant anti-Communists. He was in alignment with Roy Cohn’s good friend William F. Buckley and his National Review, even going so far as to ghostwrite an anti-Rockefeller essay for the paper. “The thrust of Bill’s article,” Buckley later said, “was that Rockefeller wanted to lead New York State and then America away from anti-communism and towards collectivism.”139

The political vehicle that Casey ultimately hitched himself to was Richard Nixon. Nixon, he reasoned, was a figure far removed from the sort of “Eastern establishment” cultural circles that had fostered politicians like Nelson Rockefeller. Furthermore, Nixon was an avid cold warrior and a friend of business. Casey went to work in an unofficial capacity for Nixon’s ill-fated campaign against John F. Kennedy. While these efforts bore little fruit, he continued to spend the 1960s aiding Nixon’s advance and turning down offers to work on the campaigns of Barry Goldwater and others.

Nixon’s resurgence at the end of the 1960s was Casey’s moment. He dumped money into the Nixon campaign’s coffers and worked to organize a book titled Nixon on the Issues. He had expected that, in return for his efforts, the incoming administration would grant him some high-value position – but the long-awaited offer never came. Instead, Casey resorted to calling on go-betweens to help him find a position. One of these was his old OSS colleague, J. Russell Forgan, who was close to Maurice Stans, Nixon’s financial manager and eventual head of the Committee for the Re-Election of the President. From 1965 to 1969, Stans had served as president of Glore Forgan, a prominent New York investment house led in part by Russell Forgan.140 Casey’s vision was singular and hewed closely to his geopolitical bona fides: he wanted a position at the top of the armed forces pyramid or in the State Department or the CIA. When he finally got an offer from Nixon, it was as deputy director of the CIA, a position beneath director Richard Helms, and Casey rejected it. According to Casey biographer Joseph Persico, the offer bordered on insult: “Dick Helms worked for Casey more than twenty-five years ago. He had been a junior officer in London when Casey was US intelligence chief for all of Europe.”141 He was equally reluctant about the next offer, but he eventually accepted. As a result, in 1971, he became the head of the Nixon administration’s Securities and Exchange Commission (SEC). He held that post for two years, before holding a series of other positions, including that of Undersecretary of State for Economic Affairs (where he butted heads with Henry Kissinger), as chairman of the Import-Export Bank, and a spot on the Foreign Intelligence Advisory board. It is worth pausing for a moment, however, to examine Casey’s tenure at the SEC, because it was there that he crossed paths with the infamous financial bandit Robert Vesco.

THE “DETROIT KID”

Robert Vesco was one of the greats in the world of white-collar crime. He was renowned for his rapid rise and his subsequent fall – which forced him to become a country-hopping, yet incredibly wealthy, fugitive who courted right-wing paramilitaries, Colombian cartels, and Cuban Communists with equal ease. He was something of an enigma.

Mitchell WerBell III, the old OSS China hand who had become a gun for hire and arms merchant, suspected Vesco of being a CIA asset. He was described by Jim Hougan in his classic book Spooks as “Watergate’s own Rosetta Stone.”142 His meteoric rise was fueled by his takeover – and subsequent looting – of an international mutual fund that was, at the very least, adjacent to both organized crime and the CIA. Not satisfied, he then tried to take control of Resorts International, the notorious Paradise Island hotel and casino that was tied to these exact same organized crime and intelligence networks.

The initial object of Vesco’s takeover and looting was Investors Overseas Services (IOS), the brainchild of the “hippie” entrepreneur, B’nai B’rith activist, and self-proclaimed Trotskyite Bernie Cornfeld. On the surface, IOS was a peddler of mutual funds, with its salesmen traveling door-to-door across Europe and elsewhere hawking their products. These were modest beginnings for something that later became a global octopus. “Even before Vesco’s advent on the scene,” writes Hougan, “IOS bordered on the bizarre. It was an underground institution, the financial equivalent to Thomas Pynchon’s V.”143 R. T. Naylor, an expert on offshore finance, sums up IOS: “If Bernie Cornfeld did not invent the modern technology of capital flight, he did far more than his contemporaries to put it to work in an imaginative, systematic, and profitable way.”144

As Naylor points out, IOS’ early successes were made possible by US-led economic policies. On the one hand, the status of the dollar as a reserve currency had opened up the nascent eurodollar markets and created the need for dollar recycling. IOS fit nicely into each. On the other hand, there was the IMF’s encouragement for developing countries to loosen controls on capital flows. The flight of capital from these countries often saw that capital going right into investments in the United States and Europe, as well as into other developing zones. The IMF’s policies often created a business boom, though not necessarily in the countries it was professing to help, and Cornfeld capitalized on these and related policies to turn IOS and its web of mutual funds into a veritable sponge for soaking up all of this now-available capital. IOS salesmen and couriers descended on developing countries, criss-crossed war zones, and forged alliances with dictators, offering investment opportunities and access to bank accounts in Luxembourg, Geneva, and the Bahamas.

In managing this ever-ballooning mass of hot money, Cornfeld and IOS cultivated a close working relationship with a very peculiar banker: Tibor Rosenbaum. As previously mentioned, the Geneva-based money-man’s International Credit Bank was a favored repository for the funds of both Meyer Lanksy and the Mossad.145 Rosenbaum even went so far as to take credit for being the person who first pointed out the benefits of a mutual fund scheme to Cornfeld. The result was the creation of IOS’ first major financial entity, the International Investment Trust, which launched in 1962.

Rosenbaum was not the only figure involved with Mossad that Cornfeld had buddied up with. There was also Bruce Rappaport, the banker, tanker magnate, and financial criminal who was among William Casey’s closest friends. According to criminologist Alan Block, Rappaport once bailed Cornfeld out of jail in Switzerland.146 Importantly, IOS was supported by Bank van Embden, which owned a portion of Rappaport’s own banking complex, Inter Maritime Bank. “In October 1970,” Block notes, “British bankers discovered that Bank van Embden was either a subsidiary or an affiliate of Banque Occidentale, owned by James Goldsmith” – the Clermont Club member, corporate raider and another figure who would later appear repeatedly in the nexus that later surrounded Robert Maxwell and Jeffrey Epstein.147

While IOS was rapidly expanding internationally, an unrelated corporate complex, the International Controls Corporation, was carrying out a series of rapid acquisitions in the United States. At the helm of ICC was Robert Vesco. Vesco’s main tactic was to borrow money to finance takeovers and then use the assets of the captured companies to pay off the loans. This ensured a stellar credit rating and, with a few strategic moves, Vesco was soon offering shares of his newly minted empire on the stock exchange.

Vesco, known as the “Detroit Kid,” targeted troubled, mid-sized industrial outfits for his early acquisitions. One of his first ventures was Captive Seal, a manufacturer of parts for missile technology. The company had been floundering, but Vesco managed to turn it around by courting an investment capital firm called HH Industries – a co-owner of which was Baron Edmond de Rothschild.148 To illustrate the incestuous nature of these business networks, this was the same Baron Rothschild who had organized the Israel Corporation – “Israel’s largest investment company,” designed to “encourage large-scale private investment in Israel” – with none other than Tibor Rosenbaum.149

It seems to have been the Rothschild connection that put IOS on Vesco’s radar sometime between 1967 and 1968. According to Arthur Herzog, Vesco’s biographer, Baron Rothschild had bragged to Henry Buhl III, then the newly minted president of the International Investment Trust, of the successes of Captive Seal.150 Shortly thereafter, George Karlweiss – an agent of Edmond de Rothschild’s Banque Privée – brokered an introduction of Vesco to Buhl. From there it was off to the races: at Buhl’s discretion, IOS began to purchase ICC shares. Vesco was being propelled upward.

The Detroit Kid made his move when IOS began to feel a liquidity crunch. There was a certain irony to this: while IOS controlled an unfathomable sum of money, it was not always readily accessible for above-board economic purposes. Vesco offered to bail out IOS in exchange for a high degree of control over the company. What happened next was described by Jim Hougan as “a masterpiece of unarmed robbery.… A newly created Bahamian subsidiary of International Controls – ICC Investments, Inc. – was the lender to IOS. What Vesco did was have ICC Investments borrow five million from a Wall Street brokerage house, the money to be repaid in six weeks. He then convinced the owner of Butler’s Bank in the Bahamas (also undergoing a liquidity crisis) to lend ICC Investments five million dollars to repay the six-week loan.”151 From here, Vesco structured the loan agreement to IOS so that it would extend the five million to ease the liquidity crunch, minus $350,000 – which was used to cover the financing cost of the Wall Street brokerage. With the remaining money, Vesco took control of IOS and then directed the company to repay the loan that had been taken from Butler’s Bank. Vesco, in other words, had used IOS’ own funds to finance its takeover. Next, he began to systematically purge the board of older Cornfeld loyalists and effectively consolidated control over one of the world’s largest offshore financial institutions. Finally, through a bizarre web of shell companies and fronts – organized with IOS money – Vesco began to sell off IOS assets, call in debts, and simply pocket large sums of money.

The systematic looting of IOS quickly caught the attention of Stanley Sporkin, head of the SEC’s Enforcement Division. The way that Sporkin has told the story, the resulting SEC investigation was a noble effort that had been greenlit by his boss, William Casey. The SEC began to freeze Vesco’s accounts abroad, with the goal of slowing the torrents of money that were flowing out of IOS (and by extension, the pockets of those who had bought IOS mutual funds). Yet, these successes were short lived. There was the matter of a $250,000 campaign contribution Vesco had made to Nixon’s Campaign for the Re-Election of the President. Incredibly, a portion of this contribution was used to finance the Watergate break-ins.152 Almost immediately, Casey began to pump the brakes on Sporkin’s efforts. Vesco, meanwhile, sought a one-on-one meeting with Casey.

Questions have been raised regarding Casey’s impartiality when it came to the IOS. The reason for this was a strange little company he had been involved with, starting in 1968, that was called Multiponics. The company would follow Casey like a ghost and rear its head to haunt him again and again. Multiponics – formerly named Ivanhoe Associates – was ostensibly organized “to engage in farming operations, agribusiness, and the acquisition of land.”153 A mere three years after it launched, Multiponics was bankrupt with hints of suspect activity everywhere. The company, for example, had acquired the mortgage debts of all of its organizers – Casey’s included. Multiponics’ investors were never informed of this function of the company. Nevertheless, the money they had put into Multiponics shares inevitably went, without their knowledge or consent, into paying down these mortgage debts. Helping to organize the Multiponics stock offering was none other than Glore Forgan – the firm of Casey’s old OSS comrade J. Russell Forgan. Lawrence F. Orbe, “an advisor in the corporate finance department of Glore Forgan,” maintained a spot on the board of Multiponics.154

The primary investor in Multiponics just so happened to be International Investment Trust, the leading mutual fund of IOS. What this meant is that Casey, as head of the SEC and the person ultimately in charge of the investigation into Vesco, had business interests that were intimately interwoven throughout Vesco’s affairs. There is little doubt that Vesco understood the precarious position that Casey was in. It was later revealed that, while he had sought a back channel to Casey, he had also been preparing potential legal action against him. The purpose of Multiponics, Vesco argued, had been “to take over the personal interests of Mr. Casey and others in certain farming operations … at values subsequently determined to be inflated.”155 Vesco, in other words, was charging that Casey, the Glore Forgan crew and their other colleagues in Multiponics had committed fraud against IOS. Intriguingly, Vesco’s subsequent flight to Costa Rica – the beginning of his grand tour of the Caribbean and Latin America – occurred in February 1973, the same month that Casey resigned from the SEC. There is no evidence to suggest that the two events were related, although a subsequent “grand jury found evidence that [Casey’s successor at the SEC, Bradford Cook] and Casey … directly interfered” with the SEC’s investigation into Vesco and IOS.156

Years later, an informant and US Customs contract agent named Joe Kelso arrived in Costa Rica on the trail of a fugitive drug dealer. While he never found his target, Kelso did discover Vesco’s private jet, tucked away inside a hanger paid for by a shrimp company called Frigorificos de Puntarenas.157 Frigorificos was, as stated in a CIA Inspector General’s report, “among the companies that were used by the Department of State in the mid-1980s to channel humanitarian aid to the Contras.”158 The report goes on to acknowledge that the company and its operators, Frank Chanes and Moises Nuñez – the latter a “narcotics officer in the Government of Costa Rica” – were linked to the international transport of cocaine and the laundering of drug money, per US Drug Enforcement Administration (DEA) reports. The Kerry Committee report, meanwhile, further identified Ramon Milian-Rodriguez, a money launderer tied to the Colombian cartels, and Luis Rodriguez, a convicted narcotics trafficker, as other Frigorificos principals.

That Vesco would appear in direct proximity to Colombian narcotics traffickers is not surprising. In the early 1980s, drug smuggler George Jung testified that Carlos Lehder, a high-level trafficker from the Medellin drug cartel, had partnered with Robert Vesco in moving cocaine through the Bahamas.159 Lehder later confirmed Jung’s claim. When he was called to testify in the 1991 trial against Manuel Noriega, Lehder identified Vesco as of one his partners in the Bahamas since the early 1980s.160

INSIDE “BILLYGATE”

ne of the scandals that dogged President Carter in the waning days of his administration was the so-called “Billygate” affair. “Billygate” was named for the president’s brother, Billy Carter, and focused on the ties he had cultivated with the government of Libya. Billygate became a media circus throughout late 1979, as a Senate inquiry heated up and widespread dissent rippled through the Democratic Party. A Christian Science Monitor article from the summer of 1980 is particularly revealing, as it addresses the way the scandal prevented Carter from focusing more attention on Reagan during election season and describes the rise of an anti-Carter bloc within his party:

Washington reporters are hearing from Democratic leaders all over the United States – in office or out, and usually in private – who say they would really prefer to have Carter step aside or be forced to step aside.

This growing anxiety – “call it fear,” one congressman says – is that the President will not only lose badly but will bring about the defeat of a lot of Democrats in marginal seats and possibly elect a GOP-controlled House and Senate.161


Billygate came about in the context of deepening tensions between the US government and Libya, and in particular via an effort launched by Gaddafi’s government to influence the American population with the hopes of influencing American policy decisions. Under the leadership of Ahmad al-Shahati, the head of the Libyan Foreign Liaison Office, a program was organized to invite “prominent U.S. citizens and business organizations” to Libya.162 In March, 1978, efforts were made to involve Billy Carter in the program. The connection that was established between the Libyans and Billy was rather tenuous: according to the Senate report on the matter, Michele Papa, a Sicilian lawyer and founder of the Sicilian-Arab Association, told an Atlanta-based real estate broker named Mario Leanza that if “he could get Billy Carter to come to Libya, Leanza could make a lot of money.”163 Arrangements were made through mutual associates to establish contact between a Libyan ambassador and Billy, and Leanza did receive money for his role.

After Billy did make a trip to Libya, he helped arrange for a Libyan delegation to visit Georgia in early 1979. He acted as something of a “goodwill ambassador,” and promoted plans for the formation of a “Libyan-Arab-Georgian friendship society.”164 Plans were also hatched for a commodity exchange program, where Libyans would purchase goods produced in Georgia and Billy would use his connections to help Libya sell its own commodities – namely, oil – on the open market. To help facilitate these arrangements, the Carter administration’s director of the Office of Budget and Management, Bert Lance, recommended the services of a “knowledgeable London banker.”165 Lance would later tell investigators that he had recommended the Bank of Commerce and Credit International (BCCI).166 As previously noted and as will be discussed in detail the next chapter, BCCI was an incredibly corrupt institution, with deep ties to a web of intelligence agencies and linkages to various covert operations, terrorist organization, drug smugglers, and money launderers.

The presence of BCCI suggests that more was likely going on behind the scenes – and Joseph Trento, in his history of the Shackley network, concurs. According to his sources in the intelligence community, “Israeli intelligence decided to compromise the president through his brother, Billy.”167 The job was outsourced to the private CIA, with Thomas Clines making arrangements to convince the Libyans “that Billy Carter should be put on their payroll as a goodwill ambassador. This would be devastating to President Carter and very useful to the Republicans in 1980.”168

A dense nebula of backroom business dealings, power plays, and dirty tricks characterized the events that unfolded around the Billy Carter-Libya relationship. One way to begin exploring that nexus can be found through the Florida holdings of the powerful DuPont family, which by the 1970s and 80s had become involved with the CIA’s aviation complex. The family’s interest in the state were overseen by Alfred I. DuPont, who set up shop there in 1926. DuPont’s early Florida affairs revolved around real estate investments, which soon developed into a sprawling empire with countless holdings that were eventually managed by the Alfred I. DuPont Testamentary Trust. Administrating this vast financial complex was Ed Ball, a prominent Florida financier whose sister Jessie had married Alfred DuPont. When DuPont died in 1935, the Trust was left in Jessie’s hands – and Jessie turned it over to Ball.

Thanks to DuPont’s accumulation of different holdings and assets, Ball controlled, according to Florida senator Claude Pepper, a “great machine which he operates and manipulates.… Every string which controls this vast empire runs through the fingers of Mr. Edward Ball.”169 Besides the real estate holdings, the railroads, the shipping companies, and the heavy industries, the major locus of Ball’s influence and power was the control he wielded over the state’s banking system. This had its origins in the 1930s, with the DuPont’s takeover of Florida National banks, which were then used as the vehicle to buy up beleaguered lending institutions throughout the state. Soon, DuPont maintained – and Ball administered – a sprawling banking complex that held an estimated $530 million in deposits.170

The DuPont-Ball banks may have been intertwined with Paul Helliwell’s banking network. A list of Florida National Group banks, published in the records of a 1964 US government inquiry into DuPont and Ball as part of a wider investigation into holding company practices, lists Helliwell’s Bank of Perrine- Cutler Ridge as being owned by this umbrella group.171 Also listed was Miami National Bank, the Helliwell-represented bank that had been set up with the aid of a Teamster pension fund loan.172

By the late 1960s, Ball’s domination of Florida was drawing the ire of government regulators and politicians. Moves were being made to force the DuPont Trust to divest of a sizable chunk of its holdings. As a result, Ball turned to his friend Raymond Mason. Mason bought up some of Ball’s real estate, and a proposition was made whereby the concern Charter Company would take control of the lucrative St. Joe Paper Company. The problem, however, was that Charter (at this point) was a much smaller company and lacked the capital requirements necessary to maintain St. Joe. A potential solution arose with a proposed takeover of Charter by Occidental Petroleum, the oil concern controlled by businessman Armand Hammer – who maintained a spot on the board of Ball’s Florida National Bank of Jacksonville.173 The sale of Charter to Occidental fell apart, though by no means ended the relationship between the two companies, which remained quite cozy. However, the failed acquisition also doomed Charter’s planned purchase of St. Joe. Yet, in 1972, Charter and St. Joe swapped stock in one another. By this point, Ball had partially divested the DuPont Trust from Florida National Banks, while stepping down as chairman. However, they still maintained the dominant position, and he took up a new position as the bank’s controlling “coordinator.”174 In the course of the Charter-St. Joe stock swap, Mason ended up controlling 8% of St. Joe and Ball controlled 22% of Charter.

The same year as the stock swap, Mason and Ball toyed with the idea of purchasing IOS. Just like the Occidental Petroleum affair, this buy-out never took place. According to Robert Vesco’s biographer Arthur Herzog, Ed Ball had told Vesco “I had a dream. You and I slept together on a cold night. In the morning, you had all the blankets.”175 Still, Mason and Ball maintained close ties to Vesco, who, after becoming an international fugitive, cozied up to Gaddafi’s government in Libya, which was an important source of crude oil for Charter. Interestingly, Armand Hammer was also a player in the world of Libyan oil – to quote from Edward Jay Epstein’s book Dossier, the oil magnate:

…managed in the 1960s to obtain a huge concession for Occidental in Libya by paying a multimillion-dollar bribe to a key official in the Libyan court. It was one of the few concessions in the Middle East not controlled by major international oil companies, and Hammer made a fortune that he then used to finance immense barter deals with the Soviet Union. He also used his Libyan oil to undermine the power of established oil companies, and in doing so, he radically changed the rules of the international oil business.176


How Charter entangled itself in the complex world of Libyan oil affairs cuts right to the core of the “Billygate” scandal, and possibly links to the wider web of “renegade” intelligence operations and private intelligence networks that have been the subject of this chapter. The lynchpin here, however, was a company called Carey Energy, headed by Edward Carey – the brother of New York governor Hugh Carey and the mob-linked petroleum seller Martin Carey. Hugh and Martin Carey are both discussed elsewhere in this book: Hugh in chapter 11, and Martin in chapter 7.

Alan Block notes that Carey and his oil business were “exceptionally close” to the Kulukundis clan, the Greek shipping dynasty, and its patriarch, Elias J. Kulukundis, who at this time was managing the Burmah Oil Tankers Corporation (a subsidiary of the major British oil concern, Burmah Oil, from which British Petroleum sprang).177 As discussed in chapter 3, the interests of the Kulukundis family interlocked with those of Bruce Rappaport, while the family’s in-laws and business partners, the Mavroleons, were later linked to Jeffrey Epstein and Ghislaine Maxwell (see chapter 15 for more on that connection). Through Elias’ position at Burmah Oil Tankers, the Kulukundis family maintained a presence near the center of power in the Bahamas. Burmah Oil and the Bahamas Development Corporation co-owned an oil transport facility, located in Freeport on Grand Bahama, while Kulukundis “maintained an apartment in New York for the use of Bahamian government officials.”178

Carey Energy also had a presence in the Bahamas, where it owned the majority stake in a Freeport-based oil refinery called Borco and this facility would have been directly linked to the transport terminal controlled by Kulukundis. Borco processed crude oil from Libya and Iran – yet, somewhere along the way, Carey Energy had ran afoul of the Libyan government, as one of its holdings had defaulted on oil payments to the country’s state-owned oil company. Facing bankruptcy, Carey began searching for a buyer for his company – and it caught the eye of Charter Oil.

How Carey Energy and Charter first connected is unclear. Through Carey’s family connections, Carey Energy was plugged into the world of New York politics, while through the company’s executive vice president, Jack McGregor, it had a line to the Carter family. McGregor, according to government documents related to the Billygate affair, was an informal advisor to Billy Carter during the time that the president’s brother was making his own forays into Libyan business. Finally, through its presence in Libya, Carey Energy likely brushed up against the interests of Hammer and Vesco – both of whom moved in and out of the Charter Oil orbit.

Indeed, Vesco offered his “services” to Charter Oil – for a fee. He would use his leverage with the Libyans to put pressure on Carey to help move the negotiations along. In a statement given to congressional investigators, Charter Oil chief financial officer J. Steven Wilson stated that Vesco had contacted Raymond Mason concerning a potential acquisition by Charter of three former IOS subsidiaries that were then in liquidation. In June 1978, Wilson and other Charter executives traveled to the Bahamas to meet with Vesco. Wilson and Mason then paid a followup visit to the fugitive in September 1978, and then again in January 1979, when they were in the Bahamas “for the purpose of working on Charter’s … acquisition of Borco.”179 The way that Wilson tells the story, there were never any plans to do business with Vesco due to the financier’s precarious legal situation. Nevertheless, these meetings between Charter and Vesco did take place and, during at least one of them, the “Borco acquisition was discussed.”180 Then, in March of 1979 – shortly after Charter took control of Carey Energy – Vesco began calling Mason, “claiming that he had been instrumental” in the acquisition and was “entitled to a $5 million finder’s fee.”181 Charter, for their part, claimed that they had never enlisted the aid of Vesco, and therefore were not required to make any payments.

While Charter’s denial was accepted by the government, accusations to the contrary continued to arise. These were compounded by the fact that, in the wake of the purchase of Carey Energy, Billy Carter’s friend Jack McGregor had taken a position at Charter. Several months later, in August of 1979, Billy Carter signed an agreement with Charter to help the company “obtain additional Libyan oil.”182 “Allegations have been made in the press,” reads one intriguing footnote in the Senate report on “Billygate,” “that Billy Carter’s oil deal with Charter Oil was engineered by Robert Vesco as part of a larger scheme to influence the US government to deliver planes to Libya.”183

The planes in question were Boeing jumbo jets and C-130 and Lockheed L- 100 cargo transport aircraft. They had been ordered by Libya from American manufacturers but had been blocked due to an export ban to the country, which had established by the Carter administration’s State Department in fall of 1978.184 Vesco had inserted himself into this mix, which sparked a series of plots and counterplots that caused considerable problems for the Carter administration between 1979 and 1980. “If they [the State Department] would release the airplanes,” Vesco told co-conspirator James W. Brewer, “then the [unidentified] people in Washington can get paid [$7.5 million] out of the airplane deal and I can get paid [$7.5 million].”185

For years, Brewer had been an on-again, off-again special assistant for Shearn Moody Jr. while the latter was acting as head of ANICO. He also exemplified the Moody family’s tendency to climb into bed with organized crime types: Brewer had a long history of associations with the criminal element, and was a repeat offender for his participation in fraud schemes. One such scheme had gotten him into trouble in 1978 and, in exchange for his freedom, Brewer had agreed to become an FBI informant. As one Senate report reads, Brewer “helped the Miami office of the FBI uncover offshore bank scandals involving phony or improperly used cashier’s checks, letters of credit, or securities. He offered opportunities to individuals, ‘targets’ presumably predisposed to commit crimes and reported the targets conduct to the FBI.”186 Brewer, in other words, was moved around the board by the FBI like a chess piece and was used to set up sting operations against persons of interest.
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Re: One Nation Under Blackmail, by Whitney Webb

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Part 3 of 3

One such target was James C. Day. A former Texas state representative, Day had become a lobbyist on Capitol Hill for ANICO, and had also cultivated deeper organized crime ties. For example, one of his business partners was Leonard Capaldi, who was “alleged by law enforcement … to be a major representative of the Houston [Texas] interests of several Mid-west and Eastern mob families.” During the early 1980s, he would again emerge as a major borrower at Houston’s Mainland Savings, where – as will be discussed in the next chapter – Adnan Khashoggi and others tied to intelligence operations could be found.187 Day had cultivated contacts deep within the halls of the Carter administration, and in April 1978, he told Brewer that White House Chief of Staff Hamilton Jordan and DNC chairman John C. White “were not too confident that Carter was going to make it again and they were interested in deals to make money.”188

The details of what happened next are muddled. Brewer claims that Day asked him to contact Vesco to try and arrange something for Jordan and White. However, according to Day, the plan to bring Vesco into the mix was Brewer’s idea. Regardless, Brewer, Day, and another ANICO aide named James Wohlenhaus traveled to the Bahamas to meet personally with Vesco. It was the first of several trips, with the issue of the planes becoming an increasingly important focus for this unlikely crew. Day brought the issue to White’s attention and, immediately following an October trip to the Bahamas, the State Department released a handful of the planes – and with the FBI, all the while, quietly observing the succession of events.

Yet, there is also the possibility that the FBI had a hand in instigating these very events. After the release of the planes, Vesco claimed to Day that the Libyans had not paid him, and therefore Day himself could not receive his agreed-upon cut. Day, meanwhile, suspected that Vesco had in fact been paid. At this point, Day hoped to extricate himself from the affair – but Brewer, perhaps at the request of the FBI, kept Day in play by arranging for one of his associates, a man named James Feeney, to pay him the money owed in exchange for a cut of future profits in dealings with the Libyans, Vesco, and Carter administration officials. Incredibly, Day himself knew that Brewer was an FBI informant.189 What neither Brewer and Day knew, however, is that Feeney himself was soon to become an informant himself, this time for the Southern District of New York, which was hoping to get a chance to nab Vesco.190

There’s also the question of why ANICO featured so prominently in this operation, with three associates of the company and the Moody family – Brewer, Day and Wohlenhaus – acting as the intermediaries between Carter administration officials like White and Vesco. As previously mentioned, the Moody family had ties into the old power structure of the FBI via Hoover ally Roy Cohn and Shearn Moody Jr. was said to supply “many little boys of the night” to Cohn and other guests visiting his ranch who were so inclined. Cohn, by the time of Billygate and the plane affair, was gearing up to act as an informal advisor to soon-to-be president Ronald Reagan. As will be mentioned in chapter 10, Cohn was also reportedly involved in an effort to blackmail Carter during this period, via his chief of staff Hamilton Jordan over Jordan’s alleged cocaine use at New York’s Studio 54.

Importantly, both Shearn Moody and Cohn popped up in the course of the scheming: Cohn’s law partner was representing Kevin Krown, who was under investigation along with Feeney by the Southern District of New York. In September, 1979, Brewer attended a dinner with Moody, Cohn, and Wohlenhaus, where both the investigation into Krown and Feeney and the plane affair were discussed. According to a Senate report, “Moody told Wohlenhaus that they ‘were gonna go to the Federal D.A. and try to make a deal to get them off the hook on the hot check charges by telling the Libyan plane story and adding a bit to it.’”191 Subsequently, “Krown wrote a scenario ‘about all the players, the Brewers, the Feeneys, the Days, the Vescos,’ and gave it to John Doyle, the Chief of the Criminal Division in the Southern District.”192 Given the political connections and orientation of Cohn and Moody, one cannot help but wonder if much of this was carried out to embarrass an already flailing Carter administration.

Unsurprisingly, it didn’t take long at all for word of these schemes to reach the press. Vesco himself directly leaked information to Jack Anderson, who wrote twelve columns on the subject between September and October 1979. “They described how Vesco tried to wriggle free of the Justice Department’s extradition requests by seeking the assistance of high level Carter officials including Hamilton Jordan.”193 To make matters worse for the administration, recordings Feeney made of his conversations with various conspirators were shown to the press by aides of Senator Orrin Hatch (who, as we will see, was connected to Adnan Khashoggi, the Bank for Commerce and Credit International, and other intelligence assets). As the Washington Post reported:

An exotic cast appears in the tapes. The names, spoken by Feeney, Vesco, at least two other convicted swindlers, and Libyan diplomats, include Billy Carter and John C. White, chairman of the Democratic National Committee … Hatch, in a phone interview, said he wanted, no dissemination of unsubstantiated allegations, but thought reporters should be able to sample for themselves the technical “quality” of the tapes. The quality of the segment was excellent. The obviously sensitive tapes – raw files with a high potential to besmirch the reputations of possibly innocent persons and even to affect the presidential election campaign – had been closely husbanded by federal prosecutors for an investigation that began 19 months ago and has involved formal presentations to a grand jury since last fall.194


Vesco himself had told Senate investigators about the existence of the tapes, effectively widening the probe – just as he had done earlier with the Anderson leak. This raises the possibility that Vesco’s role here was aimed at getting the US to drop its extradition efforts against him. Yet, if there was more to it than that, the next question is: who was Vesco working for or with? One possibility is that he was aiding Shackley’s “private CIA” network, which of course maintained a deep presence in Libya throughout this whole period, allegedly had information concerning Billy Carter’s business there, and had been involved in dirty tricks against the Carter administration.

There is at least one demonstrable link between the worlds of Vesco and that of Shackley where Libya is concerned. Deeply involved in the sale of IOS subsidiaries during the liquidation phase of the mutual fund’s existence was Edward du Cann, a high-ranking official in the UK Conservative Party (among other things, du Cann played a key role in Margaret Thatcher’s early political rise). By 1972, he was serving as the chairman of Keyser Ullman, a major British banking concern with interests across Europe and in the United States. Keyser Ullman was also tied to Jack Dellal, a Clermont Club member who would later fund a suspect, intelligence-linked company headed by Robert Maxwell’s daughter, Christine (see Chapter 21).195 “Du Cann,” states his obituary concerning this period, “was at the heart of a mass of intricate – and generally shady – financial maneuverings.”196 Some of these included the tattered ruins of IOS. They also involved Lonrho, the massive international conglomerate controlled by the corporate raider Roland “Tiny” Rowland, another Clermont Club member. Keyser Ullman had become Lonrho’s bank of choice, and du Cann was added to the company’s board. He would eventually achieve the position as chairman, overseeing a sprawling network of corporate affiliates and subsidiaries that criss-crossed every economic sector – with a particular focus on mineral extraction in Africa. Lonrho and Tiny Rowland will be discussed more in the next chapter. For now, it’s important to note that Rowland’s ties to the world of intelligence and covert operations were plenty. He had deep ties to American, British, and Israeli intelligence services, and his African holdings often acted as cover for Mossad agents. He appeared repeatedly in the course of the Iran-Contra affair, and he had complex – sometimes harmonious, sometimes tense – relationships with figures like Adnan Khashoggi. Rowland was also close to Robert Maxwell, and reportedly helped peddle the bugged PROMIS software to his political contacts. All in all, Rowland was a well-heeled operator, known for his ruthless, buccaneering ways.

It is unsurprising, then, that Lonrho’s tentacles reached into Libya, right up to the highest levels of its government. A Lonrho subsidiary, Tradewinds Air Holdings, maintained a heavy presence in the country, and counted among its board members Ahmed Gaddafadam, the cousin of and security advisor to Colonel Gaddafi (du Cann himself was another director).197 Tradewinds became a subject of interest in British parliament, especially after a letter written to the British Secretary of State for Trade and Industry by Mohamed al-Fayed, chairman of Harrods department store and, for a time, the husband of Samira Khashoggi, Adnan Khashoggi’s sister. Mohamed and Samira’s son, Dodi Fayed, would later become romantically involved with Princess Diana of Wales and die with her in the infamous 1997 car crash.

Mohamed al-Fayed had been partners with Lonrho and Rowland for a period in the 1970s, but by the 1980s they had become bitter enemies, with Rowland seeking to carry out a hostile takeover of Mohamed’s economic interests. In the letter, Mohamed outlined a series of charges against Lonrho. While most of these concerned their business practices, they also included allegations of arms dealing and ties with the infamous Edwin Wilson. To quote from Mohamed al-Fayed’s letter:

…the Lonrho subsidiary Tradewinds has been named as the carrier in deals whereby ex-CIA agent, Edwin P. Wilson, shipped to Libya its weapons of terrorism. Wilson is presently serving 52 years in a US prison for his enterprise whilst, interestingly, a co-director in Tradewinds with Messrs Rowland, du Cann and [Robert] Dunlop, from April 1981 to May 1983, was the head of Libyan “security,” Ahmed el Gaddafadam, a cousin of Colonel Gaddafi.

Until 1983, Lonrho’s 40 per cent partner in Tradewinds was Ashraf Marwan who, however, served only fleetingly as a director and it is possible that he was acting merely as a front for Libyan interests. It is something of a coincidence that Wilson should have been arrested, Marwan sold his shareholding and Gaddafadam resigned as a director almost at the same time. A Sunday Times article of 1984 … gave some background on the Marwan/Libya involvement and it is interesting that Gaddafadam cited Marwan’s office as his address in the notification of his directorship to Companies House.198


To summarize: Tradewinds, a subsidiary of Tiny Rowland’s Lonrho, was involved in Libya and was named as a player in arms dealings, including shipping weapons on behalf of Edwin Wilson – in other words, on behalf of Shackley’s “private CIA.” At the same time, Lonrho’s chairman – and Tradewinds director – Edward du Cann had previously been involved in liquidations and acquisitions of IOS subsidiaries, thus placing him in the direct orbit of Robert Vesco. Vesco, at the same time that Shackley’s group was active in Libya, became embroiled in not one but two potentially interrelated Libyan business and political affairs that reached into the Carter administration. The first of these was the strange dealings with Charter Oil, and the second was the plane affair. The latter in particular proved to be incredibly embarrassing for the administration, right at a time when a connected network of individuals and entities – including Shackley and his associates – were working to undermine Carter.

It is also worth noting that Charter Oil did not only have ties to the Carters via Jack McGregor and Billy Carter. In 1980, 13.7% of the common shares of Charter were held by American Financial Corporation, the Cincinnati, Ohio-based flagship company of Carl Lindner. According to press reports, Lindner was “advising Charter chairman Raymond Mason on some corporate ventures.”199 The secretive Lindner was a major Republican supporter, and was a particularly tight business associate of Max Fisher, who was described as having a “close, personal relationship” with Reagan and is regarded as Leslie Wexner’s mentor.200

LEGAL AFFAIRS

A few short years before he became Reagan’s campaign manager and prior the eruption of “Billygate,” William Casey had returned to the world of private legal practice. He arrived at the offices of Rogers & Wells, one of New York City’s impressive white-shoe law firms. Renowned for its litigation division, the “Rogers” of Rogers & Wells was William P. Rogers, who had been a longtime confidant of Richard Nixon and served as his Secretary of State until 1973. The “Wells,” on the other hand, was John A. Wells. During his tenure as head of Nixon’s SEC, Casey had recruited Wells to oversee a committee evaluating the commission’s policies and practices. It was just another step in a long friendship; Casey and Wells had been close since they had first met during Nixon’s 1960 presidential campaign.

During the course of Casey’s nomination for the leading position in the CIA, Rogers & Wells had furnished a list of clients with whom he had worked between 1976 and 1981.201 A perusal of the list reveals some of Casey’s close friends and business associates. It includes, for example, Antony Fisher, who cofounded a proto-Reaganomics think-tank called the Manhattan Institute for Policy Research with Casey. There was also Science Life Systems, which Casey had formed with William Simon, a fellow Knight of Malta, who had served as Nixon’s Treasury Secretary and would later reappear in connection with the Covenant House controversy (discussed in chapter 10). Science Life Systems was a “chain of computerized fitness spas,” which was pitched to the governing body of the Olympic Games as a service for athletes. Simon was, at the time, the treasurer of the Olympic Committee.202 Another client of Casey’s was Bear Stearns, the major New York investment bank. Casey’s legal work on behalf of Bear Stearns coincided with the promotion of Alan Greenberg to the position of CEO, which he would maintain until the early 1990s. It also coincided with the arrival of Jeffrey Epstein, who rose rapidly through the ranks of the bank until his abrupt departure in 1981. This, curiously enough, was the same year that Casey left private law and returned to government service as CIA director.

A close examination of other Casey clients shows a distinctive pattern: the recurrent appearance of figures linked to organized crime, the world of intelligence, or both. One client that straddled both worlds was Deak & Co., an international banking and currency-trading firm run by Nicholas Deak. Deak, much like Casey, had served in the OSS, and his company maintained a close relationship with the CIA throughout the post-war epoch. An exposé of Deak & Co. published in the New Republic in 1976 stated: “Deak is said to have handled CIA funds in 1954 when the agency overthrew Iran’s Premier Mohammad Mossadegh and restored the Shah to the throne. During the Vietnam war, Deak & Co. allegedly moved CIA funds through its Hong Kong office for conversion into piasters in Saigon’s unofficial market. Deak officials in Hong Kong and Macao helped the CIA investigate Far East gold smuggling in the mid-1950s.”203

Deak & Co. also had a side that angled toward organized crime. Between January 1977 and summer 1978, the bank maintained accounts for Isaac Kattan. Kattan was subsequently identified by authorities as “the biggest drug financier in South America.” He had worked closely with both the Cali and Medellin cartels since the 1970s, laundering the illicit profits produced by the lucrative drug trade through bank accounts in Miami and New York.204 Deak accounts were among those being used for these purposes, and there is evidence that the firm might have been aware of what was happening. An Internal Revenue Service (IRS) audit revealed that Deak employees filed false currency-transaction reports – an antimoney laundering mechanism that tracked large-sum bank deposits – and sometimes even neglected to file the reports altogether.205

The Casey client list also included DWG Corp, NVF, and Sharon Steel, a trio of companies that were under the control of the man who invented the modern hostile takeover, Victor Posner. “He would spot a company whose assets he judged were underfunded, gain control, and milk it,” read Posner’s 2002 obituary in The Economist. “Some bits would be sold off, others would be closed. Previously unconsidered treasures, such as employees’ pension funds, would be raided and reinvested in Posner’s other companies,” it added.206 The three companies represented by Rogers & Wells reveals the diversity of Posner’s holdings. DWG was a cigar manufacturer that has since become the Wendy’s fast food chain, and NVF, formerly National Vulcanized Fiber, was the creator of forbon, a fiber used in guitar picks. Sharon Steel, meanwhile, had once been a booming industrial firm that had led the pack in Pennsylvania’s steel industry.

Posner’s seemingly innate talent in corporate buccaneering required easy access to capital. Because of this, by the mid-1970s, he had fallen in with the crowd around Michael Milken and Drexel Burnham Lambert. By the 1980s, he was one of the Milken’s biggest customers, and it becomes difficult to perceive – at times at least – where Posner’s interests and Milken’s were separate. Another person in this circle that was particularly close to Posner was fellow Drexel Burnham Lambert client Ivan Boesky. Years later, when Boesky was dragged before the courts for his role in a stock-manipulation fraud case involving the Irish beer giant Guinness, none other than Max Fisher, whose ties to Leslie Wexner are detailed in Chapter 13, personally intervened on his behalf.207 Notably, Clare Hazell, a former employee of Epstein’s and an alleged key figure in the Epstein-Maxwell sexual trafficking/blackmail operation, married into the wealthy Guinness family in the early 2000s.208

Much like Robert Vesco, Posner crossed paths with the SEC during Casey’s time there. The commission had brought a case against the corporate raider, spearheaded once again by Stanley Sporkin, for “dipping into employees’ pension plans” at Sharon Steel.209 However, the case seemed not to have soured relations between the SEC veteran and the dispersed gang of corporate raiders. In 1980, aside from Casey obtaining the Posner corporate accounts at Rogers & Wells’ DWG, Posner’s close friend Meshulam Riklis “worked out the guidelines with the SEC’s then head of enforcement, Stanley Sporkin … and proceeded to take [his company] Rapid-American private.”210 As mentioned in Chapter 2, Rapid- American included the remnants of Lewis Rosenstiel’s business empire, and Riklis acquired the Manhattan townhouse that Rosenstiel had bugged for blackmail purposes.

One close associate of Posner who is worth scrutinizing is the Miami real estate developer Armer E. White, who had been the finance chairman of the Dade County Reagan for President campaign in 1980. Casey was, of course, the manager of the national campaign.211 It is likely that Posner and White initially encountered each other when Posner first became interested in Florida land development through his Security Management Corporation. Beginning in the 1960s, White was a constant fixture in Posner’s world. Sometime in the 1960s, he became a director at DWG, and later he was granted a position on the board of Sharon Steel. By the 1970s, he was listed as a trustee of Posner’s investment trust.212

What makes White important, beyond his prominent role within Posner’s financial network, is the ties he maintained to organized crime. Many of these ties came through his real estate vehicle, Context Industries, which had benefited from the Florida land boom in the 1960s.213 The real estate affairs of the Sunshine State had, historically, served as an investment outlet for organized crime. Unsurprisingly, Context soon found itself also swimming in those currents. The company retained Leonard Pelullo as a “consultant.”214 Pelullo, in turn, was identified in a New Jersey State Commission of Investigation report as being closely tied to the Nicodemo Scarfo crime family.215 Scarfo, allied with the Philadelphia crime family, had been given control of Atlantic City when it was something of a backwater. Under his management, it was transformed into the upper East Coast’s major gambling hub. Donald Trump’s Atlantic City interests were built, in fact, with concrete supplied by Scarfo’s companies.216

Pelullo seems to have brought the worlds of White and Scarfo together, with Context Industries making plans for the construction of hotels and casinos in Atlantic City.217 He also served as a source of financing for White’s company: Context paid the mobster $80,000 to obtain loans that, when they arrived, totaled around $800,000.218 The source of these loans was Sunshine State Bank, a shady Florida savings and loan in which Pelullo owned a 6 percent stake.219 The full extent of Pelullo’s borrowing from the S&L was immense and, upon its collapse, his outstanding debts were over $12 million. It was not the only financial outfit that made, ultimately unpaid, loans to Pelullo. Another was Florida’s Great American Bank. Owned by former US ambassador to Switzerland Marvin Warner, it had been one of the banks used by the aforementioned Isaac Kattan to launder Colombian drug money.

An even more direct organized crime connection found in Casey’s client list was SCA Services, a major waste-management company. While having all the pretenses of an above-board corporate firm – the SCA’s directors and investors have been some of America’s largest businessmen – the company has been dogged by repeated scandals, illustrating that its roots have remained squarely planted in the underworld. One such investor was Anthony Bentrovato, who became a “substantial SCA stockholder” after selling “a profitable garbage company to SCA in 1973 for $1.7 million worth of stock.”220 Two years later, Bentrovato was indicted in a mob-linked conspiracy involving kickbacks from the Teamsters pension fund. Indicted alongside him was Teamster official Anthony Provenzano – notable for having been at the center of the initial probe into the disappearance of Jimmy Hoffa.221

The association between a mobbed up waste-management owner like Bentrovato and a Teamster official like Provenzano is illustrative of the arrangement between the union and waste management. Waste management in New Jersey – the center of the SCA complex – fell under the auspices of Teamsters Local 945. The business agent for this local was Ernest Palmeri, who came “from a long line of organized crime figures.” Palmeri had been placed in that position by Genovese capo Peter LaPlaca.222

Close to Palmeri was Crescent “Chris” J. Roselle, the general manager of a family-owned waste-management group that was sold to SCA. Roselle also operated a series of businesses with Anthony Gaess, the manager of a number of SCA subsidiaries. Both were involved, for example, with MSLA, a company that managed a large New Jersey landfill that housed toxic-waste. Linked to MSLA was “one of the region’s largest waste contractors,” Charles Macaluso. Close to corrupt Teamsters officials, Macaluso was by no means an ordinary businessman – according to the New York Times, he had been identified “in a Congressional report as a ‘soldier’ in the Tieri organized crime ‘family.’”223 That would be Frank Tieri, a boss in the Genovese family.

Perhaps fearing that these associations would come to light, SCA attorneys filed a legal document in 1978 arguing that Gaess was not involved with the company’s subsidiaries. However, as Alan Block points out in Poisoning for Profit, the minutes of a corporate board meeting clearly indicate Gaess’ position.224 It is notable that this situation occurred during the time when Casey worked with SCA via Rogers & Wells. The connection to Gaess might have been obscured temporarily, but the connection between SCA and organized crime was later dragged into the media limelight in December 1980, when Gaess’ associate Crescent Roselle was “shot multiple times with both .22 and .32 caliber weapons outside his company offices in Elizabeth, New Jersey.”225 This gangland-style murder occurred less than a week after an FBI informant gave testimony concerning ties between SCA and the mob.

In May 1981, New Jersey State Police Lt. Col. Justin Dintino testified that the Genovese and Gambino families exerted extensive influence across the New Jersey waste-management industry and had significant ties to SCA. When it came to SCA’s president, Thomas Viola, Dintino suggested that he was not a member of organized crime. He was instead “an associate member of organized crime – a business associate.”226 Viola, meanwhile, was quickly prepping for his departure from SCA, and he opted to hire another familiar face to serve as his lawyer, Joseph Califano Jr., whose role in Watergate was discussed in the last chapter. The whole episode makes a brief appearance in Califano’s autobiography:

Though Viola denied any ties of organized crime, an SCA manager had been shot and killed a few months earlier and the garbage-collection business in New Jersey was suspected of being infiltrated by the mob. I was negotiating Viola’s exit. He wanted me to meet him … in New York at the offices of Rogers & Wells, which had been retained to do an independent investigation of allegations of mob involvement in SCA. I flew to New York for negotiations, which dragged on into the early evening. Rogers & Wells had found that Viola had no mob connections, had cleaned up SCA, and removed any employees responsible for misconduct.227


Notably, a very close business associate of Leslie Wexner’s, Frank Walsh of Walsh Trucking, would later become of interest to law enforcement for his ties to these same organized crime networks – specifically, the Genovese crime family’s New Jersey branch. Walsh managed logistics for Wexner’s company The Limited and, when Walsh was under investigation by the New York Organized Crime Task Force in 1984, all notices sent to Walsh in connection with that investigation were addressed to Frank Walsh Financial Resources at One Limited Parkway, Columbus, Ohio – the same address of Wexner’s The Limited. The Walsh-Wexner relationship is revisited in greater detail in Chapter 13.

Two final Casey clients worth mentioning are Newfoundland Refining Company and Shaheen Natural Resources. This pair of firms represented the interests of John Shaheen, an independent oilman whose long-running association with Casey dated back to their days together in the OSS. Shaheen’s official bio states that he had served as “aide to General Donovan, director of the Office of Strategic Services; Chief, Special Projects Branch in OSS Washington; OSS field service in European, Mediterranean, and Pacific Theaters.”228 Richard Harris Smith, in his history of the OSS, describes Shaheen’s Special Projects Branch as a “completely autonomous” unit that answered directly to Donovan “outside of the regular OSS chain of command.”229

Shaheen’s activities brought him very close to the circle of OSS insiders that Casey had become acquainted with during his time in London. At the end of the war, for example, Donovan organized a committee to advise Hollywood on the production of spy-themed movies. The members of this special commission included David K. E. Bruce, J. Russell Forgan, Allen Dulles, and Shaheen. Their efforts successfully inserted a score of OSS veterans into the movie business, while also giving directors and producers a direct link to the inside world of wartimeintelligence operatives. Hollywood, as a result, became yet another milieu where the worlds of American intelligence intersected with organized crime.

Close connections to Nixon was something else Casey and Shaheen shared, with the latter being part of Casey’s “Hardy Boys” clique. Shaheen, like Casey, had been involved with the Nixon campaigns of the 1960s. When Nixon had briefly returned to private law practice, Shaheen had been one of his clients. He was responsible for connecting Nixon with Joey Smallwood, the premier of the Canadian province of Newfoundland. Smallwood, meanwhile, was engaged in an effort to industrialize the remote province by courting European and American capital. Some of the firms he courted bore the unmistakable mark of organized crime – for example, the controversial John C. Doyle and his company, Canadian Javelin.230 Doyle’s company also included a close associate of Edgar Bronfman’s, Mark Millard, as a major investor.231 Doyle had also enticed Shaheen, whose Newfoundland ventures were the two companies taken on by Casey as Rogers & Wells clients.

The Newfoundland venture was rocky for Shaheen. In 1976, his oil refinery went bankrupt, setting off a firestorm of legal problems and a domino effect that soon impacted his other businesses. He desperately tried to raise money from outside sources, at one point attempting to enlist – with the aid of Casey – the Kuwaiti National Petroleum Corporation to invest in his Newfoundland oil company. When that effort failed, Shaheen turned to the open market in a desperate search for sources of crude petroleum for refining in Newfoundland. It was then that he made contact with Cyrus Hashemi, an Iranian arms dealer with close ties to Iran’s post-revolution government.

Anyone who has ever looked into the October Surprise plot will instantly recognize the name Cyrus Hashemi. Indeed, one could argue that the trail of events that led to that plot began with the encounter between Shaheen and Hashemi. According to the report prepared by the October Surprise Task Force, “Hashemi had been identified to Shaheen as someone with good contacts in the oil communities in Iran, Nigeria, and Tunisia. Following their introduction, Shaheen solicited Hashemi in securing contracts to purchase crude oil.”232 The report continues: “In 1980, Cyrus Hashemi assisted Shaheen in his bid to regain control of the Newfoundland refinery. According to O. Jackson Cook, an attorney who also assisted Shaheen in this effort, Hashemi assembled a group of investors who made money available to Shaheen to bid on the refinery. The FBI’s electronic surveillance of Cyrus Hashemi confirms that Cyrus and Shaheen were in contact in late 1980 regarding the Newfoundland refinery.”233

Hashemi also made an appearance in the Carey Energy affair, discussed earlier in this chapter. Roy Furmark, the “right-hand man” of Shaheen in the Newfoundland venture and a close associate of William Casey, testified during the course of the Iran-Contra hearings that he had encountered Hashemi in the Bahamas on the eve of Charter’s acquisition of BORCO 198.234 According to Furmark, Hashemi was operating as a “representative of the Iranian government,” and had been invited to participate in the negotiations by a CIA asset named Roger Tamraz.235 Many of Tamraz’s other activities, including his connections to the Maxwells, will be discussed in chapter 16

Shortly after Shaheen became acquainted with Hashemi, he began making overtures to officials in the Carter White House and the CIA concerning schemes to free the hostages being held in Iran. While the CIA was reportedly uninterested in what Shaheen had conjured up – which involved a team of “cadres” led by an exiled Iranian general – the October Surprise Task Force report suggests that Hashemi was party to the plotting. An FBI report from the period mentions that “Shaheen stated that he mentioned [Cyrus] Hashemi to persons in the CIA because … he determined that Hashemi might be able to play some role in either alleviating the hostage crises [sic] or in establishing a dialogue with the [Khomeini] government and the United States.”236

The Task Force report then adds an ominous detail: “According to [FBI agent Louis] Stephens, Shaheen indicated during the interview that he mentioned Cyrus Hashemi to Casey, approximately twice to [William] Casey prior to Ronald Reagan’s inauguration in January 1981.”237 The significance of this is that Cyrus’ brother, Jamshid Hashemi, claimed that he was visited by William Casey and Roy Furmark in DC. The purpose of this meeting, he relayed, was to discuss the hostage crisis in Iran.

The October Surprise Task Force cast doubt on the legitimacy of Jamshid Hashemi’s claims, citing the lack of independent corroboration. Far more complicated for the Task Force were the meetings in Madrid in July 1980. As previously mentioned, the Madrid meetings occurred a month after the fateful Le Cercle meeting where the Reagan campaign was discussed. With Le Cercle, the Safari Club, and Shackley’s network all revolving around one another, we are left with a highly complex picture of elaborate inner power plays.

According to Jamshid, Casey, flanked by Donald Gregg and an unidentified man, attended two days of meetings with himself, his brother Cyrus, and Iranian officials in Madrid in late July concerning the hostages. Much of the debate relating to the October Surprise Task Force revolved around Casey having been in London for a World War II historical conference on the days when he was alleged to have been in Madrid. The Task Force noted that there were significant ambiguities in the conference attendance records, making it hard to know whether Casey could be consistently accounted for in London.

Madrid is only an hour and half from London by plane, conceivably giving Casey enough time to move between the cities in a relatively insignificant amount of time. While the media soundly rejected the possibility that this occurred, a State Department cable later emerged from this precise time period stating that Casey had indeed been in Madrid “for purposes unknown.”238 Interestingly, Jamshid Hashemi claimed to have used a series of aliases, including “Abdula Hashemi, “Jamshid Khalaj,” and “Jamshid Parsa.”239 Throughout late July and August 1980, a series of names were logged into the guest records of the Hotel Ritz, where the meetings with Casey were said to have taken place. These names included “Abdululi Hashmi,” “Jamshid Khalaj,” and “Parsa Jamshid.” These individuals appeared to have checked in and out repeatedly at odd intervals.

There was another name that appeared in the guest records, right alongside the probable aliases of Jamshid Hashemi. On July 23, a “Robert Gray” checked into the Hotel Ritz, and on July 25 he checked out.240 Was “Robert Gray” actually Robert Keith Gray? Speculation swirled in the media, as Gray – at the time – was working on Reagan’s campaign directly under Casey. The October Surprise Task Force eventually turned its attention to the possibility. They cleared him because his passport showed no evidence that he had been in Spain in summer 1980.

Others were not so convinced. Susan Trento, for instance, cites counterarguments made by former Gray employees that he had multiple passports. For Gray, a man who had multiple intelligence connections (as detailed in the last chapter), having multiple passports was hardly out of the question. There were also eyewitness accounts that suggested that Gray was indeed the “Robert Gray” who had stayed at the Ritz. According to Susan Trento, “network reporters followed through by showing a photograph of Gray to people at the hotel, who said they recognized him.”241

ORIGINS OF THE IRAN DEAL

Bill Casey’s appointment as director of Central Intelligence was hardly popular with many on the Hill and the broader political establishment. One particularly vehement opponent was Barry Goldwater, whom Casey had sparred with back in the 1960s. Casey had designated Goldwater as a candidate of an increasingly incoherent right-wing fringe, and Goldwater clearly held a grudge against the veteran spook. He proposed his own candidate: Bobby Ray Inman, the naval intelligence and NSA chief who had done much to disrupt the Shackley clique by shuttering Task Force 157. Goldwater even went so far as to personally lobby Reagan to appoint Inman rather than Casey. But he was only successful in getting Inman the number-two position at the Agency.

The split at the top of the intelligence hierarchy was part of a cascade of factional struggles that swept across Reagan’s first term as president. Joseph Persico has described how quickly the CIA bureaucracy was polarized between the two men, eventually reaching a point where “Casey’s staff and Inman’s staff barely communicated.”242 Inman was blocked from participating in major operations, such as the early Contra-support operations, and Casey even went so far as to plant stories about Inman in the press. He devised a new division of labor in the Agency so that it gave Casey unfettered access to President Reagan – a privilege that Inman did not enjoy.

Joseph Trento argues, drawing on sources from within the intelligence community, that the rivalry between the two men was capitalized on by Casey’s other rival, then vice president George H.W. Bush. Inman, already close to Bush, acted as his eyes and ears within the CIA. “Bush was walking a tightrope,” Trento writes. “Inman considered himself a friend of Bush’s and was reporting to Bush on Casey’s activities within the CIA. At the same time, Inman’s great rival, Shackley, was [also] reporting to Bush.”243 To make matters more complicated, Shackley and his core group of associates – Richard Secord and Thomas Clines, among others – were increasingly active in Casey’s off-the-books operations, apparently walking a tightrope of their own between other rival factions.

Details scattered throughout Persico’s biography of Casey add credence to Trento’s claims. When Inman accepted the CIA job, for example, he wanted Bush present for the welcoming ceremony. “George Bush isn’t welcome out here,” Casey told him, alluding to the CIA. “Inman waited for an explanation, but none was forthcoming.”244 At another point, Casey flew into a rage on discovering that Inman had been frequently meeting with Bush and briefing him on intelligence matters.

Inman stepped down from his CIA post in 1981 and turned toward a career in the private sector. The presence of Bush’s influence can be seen in some of his subsequent business affairs. Inman, in the mid-1980s, worked as the head of an electronics-industry holding company called Westmark, which in turned owned Tracor – a major defense contractor that produced electronics for weapons systems. The main group behind Tracor was a web of in-laws and business associates of Walter Mischer, the same Texas banker and real estate developer that Pete Brewton had found to have been involved with Bush in private-intelligence operations.245

There are other indications that Bush was operating his own intelligence web within the Reagan administration. Seymour Hersh, for example, charged that Bush, wary of Casey, set up a “team of military operatives” that “bypassed the nationalsecurity establishment – including the CIA – and wasn’t answerable to congressional oversight.”246 According to Hersh, this team included Vice Adm. Arthur Moreau, then serving as assistant to the Joint Chiefs of Staff; Daniel Murphy, Bush’s chief of staff; and Donald Gregg, the former CIA officer who had become Bush’s advisor on national security. Gregg, as discussed earlier, had a history with Shackley and may have been involved in the October Surprise. According to Joseph Trento, Gregg served as a channel of communication between Bush and Shackley.247

Such was the reality of the Reagan administration. Despite the outward appearance of strength and unity, the internal dynamics were characterized by rivalry, factionalism, double-dealing, and, on occasion, moments of fragile cooperation. This was the heady environment that incubated the Iran-Contra affair, in which the US government violated several of its own laws in an attempt to covertly finance the Nicaraguan Contras in their fight against the country’s Sandinista government. It was very much the legacy of the Shackley-Wilson private-intelligence network. Though Ed Wilson was, by this point, in prison for his Libyan escapades, old veterans of that network such as Clines, Secord, and even Gray were active in this new covert war.

Oliver North, Secord’s primary partner in orchestrating many of the byzantine plots that characterized the Contra-support efforts, appears to have been operating on behalf of Casey, who had been blocked from overtly supporting the Nicaraguan rebels by Congress. For example, Casey directly intervened to keep North in the National Security Council when he was supposed to be rotated back to regular Marine duties. The close proximity of North to Casey adds credence to the allegations made by Seymour Hersh that Bush’s own intelligence operations had leaked details to the press concerning North and Secord’s arms sales to Iran.

Shackley himself was called to testify in the wake of the revelations of the scandal. He was never found to be connected with the affair, though subsequent statements by investigators suggest that, behind closed doors, there was doubt as to his professed innocence. The facts that he shared during his testimony were, however, quite revealing. In the course of his work for John Deuss, Shackley deployed the services of a former SAVAK agent named Novzar Razmara as a source of information on Middle East oil and the geopolitical situation surrounding the Iran-Iraq War. Through Razmara, Shackley was plugged into a network of former Iranian military officers who maintained some contact with the country’s post-revolution government.

In November 1984, as the hostage crisis in Lebanon was mobilizing the National Security Council, Shackley traveled to Hamburg, Germany, with Razmara to meet with the former SAVAK general Manucher Hashemi (no relation to Cyrus and Jamshid Hashemi). The ostensible goal of this meeting was to introduce Shackley and Razmara to “interesting Iranians who were traveling in Europe at the time and from Iran.”248 Present for the meeting was Manucher Ghorbanifar, an arms dealer and shady businessman with ties to both the older pro-Shah military officers and the new intelligence apparatus of Khomeini’s government.

There were numerous meetings over the course of that day, and many of the details about them are redacted in the publicly available version of Shackley’s deposition. What is revealed is that Ghorbanifar approached Shackley with questions concerning the acquisition of TOW missiles – anti-tank guided missiles that the Iranians were seeking in hopes of turning the tide in their conflict with Iraq. Shackley claims that he rejected Ghorbanifar’s overtures. Yet, TOW missiles were not the only thing on the arms dealer’s mind. Ghorbanifar stated that “for a price he could arrange for the release of the US hostages in Lebanon through his Iranian contacts.”249

Shackley’s version of these events is somewhat difficult to believe: the TOW missiles that would be shipped to Iran were not to be used as a source of financing for the Contras but were to guarantee that Iran would utilize its influence to release the hostages held by Hezbollah in Lebanon. One of these hostages was, in fact, a CIA station head whom Shackley had been close to. These weapons sales were carried out by individuals all closely associated with Shackley, working in concert with Ghorbanifar. Yet, somehow we are supposed to believe that Shackley’s 1984 meeting in Hamburg had happened just by chance. Also suspicious was that Shackley had written a memo on his meeting with Ghorbanifar and dispatched it to Lt. Gen. Vernon Walters at the State Department.

This memo was brought up during Robert McFarlane’s deposition:

MR. COHEN: You recall that Ted Shackley, back in 1984 sent a memo to Vernon Walters suggesting we have a new relationship with Iran. Were you aware of that?

MR. MCFARLANE: No, sir.

MR. COHEN: That that recommendation was discarded and that the memo was retyped in June of 1985, actually June 7 of 1985, it was sort of retyped and given to Michael Ledeen. Are you aware of that?

Mr. MCFARLANE: No, sir.

Mr. COHEN: That Michael Ledeen gave it to Oliver North?

Mr. MCFARLANE: I didn’t know that.

Mr. COHEN: Are you aware of a John Shaheen?

Mr. MCFARLANE: The name is familiar. I believe he was associated with Mr. Khashoggi.

Mr. COHEN: Actually he was a very close friend of Bill Casey’s. They served together in World War II in the OSS, and John Shaheen floated a possible hostage initiative on behalf of Cyrus Hashemi … that proposal was determined by the State Department to be unworthy of pursuit. Were you aware that was being done at the same time we had paper being prepared by – a recommendation by John Shaheen?

Mr. MCFARLANE: No sir, I don’t.

Mr. COHEN: Were you aware that the State Department looked behind the Shaheen proposal and saw Mr. Ghorbanifar?250


Cyrus Hashemi, John Shaheen’s contact who put the October Surprise conspiracy in motion, was indeed a close associate and business partner of Manucher Ghorbanifar, and the two would operate in the murky world of arms trafficking up until Ghorbanifar broke ties with him and partnered instead with Adnan Khashoggi. According to Gordon Thomas and Matt Dillon, Ghorbanifar and Robert Maxwell were well acquainted, having been introduced to each other by Cyrus Hashemi.251

Subsequently, both Khashoggi and Ghorbanifar were recruited by Israel to help traffic arms to Iran to bolster the country in its fight against Iraq, allowing the two enemies of the Jewish state to continue to weaken each other. Overseeing this operation was David Kimche, a former Mossad officer and at the time director general of Israel’s Ministry of Foreign Affairs. Robert Maxwell, who was playing a supporting role in the plan, was also actively working on behalf of Israel intelligence. As will be detailed in Chapter 9, Khashoggi and Ghorbanifar were also connected, as was Maxwell, to the PROMIS scandal, also known as the Inslaw affair.

Shackley might have been privy to these complicated arrangements and designed his testimony concerning the 1984 Hamburg meeting to suppress knowledge of his role in them. In his memo, he had effectively offered Ghorbanifar’s services to the State Department. Former CIA officer William Corson holds that he did this “because Israeli intelligence suggested it.”252 This sort of interplay between Shackley’s network and the other factions detailed in this chapter with Israeli intelligence would be a recurring theme throughout the Reagan era and beyond.

_______________

Endnotes:
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Re: One Nation Under Blackmail, by Whitney Webb

Postby admin » Sun Aug 17, 2025 2:55 am

Part 1 of 3

CHAPTER 7. A KILLER ENTERPRISE

OUTLAW BANKS


We must learn to ‘feel’ that BCCI is this Power,” read a bizarre memo once circulated by the Bank of Commerce and Credit International, better known as BCCI. That “power” was a reference to the image printed in light tones behind the text – a print of Michelangelo’s famous Creation of Adam, the fresco painting that adorns the ceiling of the Sistine Chapel. It shows God, surrounded by angels and with his finger outstretched, reaching toward the first man, Adam, imbuing him with the gift of life. In continuing the reference to Michelangelo’s depiction of the divine spark, the memo stated that BCCI is “not merely a group of branches, a set of facts and figures. Since, BCCI is a power, a spirit, a Desire – it is all encompassing and enfolding – it relates itself to cosmic power and wisdom, which is the will of God.”1

Founded in 1972, BCCI certainly wielded considerable power in its day, though its power was hardly of a spiritual or benevolent variety. When it finally collapsed after a nearly two-decades run, thanks to forced closures brought about by regulators and law enforcement, so too did the “planetary Ponzi scheme” it had been running.2 At the time of its collapse in 1991, TIME ran a lengthy story describing the bank as the “dirtiest bank of them all.”3 The authors of that article, Jonathan Beaty and S. C. Gwynne, also wrote that Robert Morgenthau, Manhattan’s district attorney, had stated that he received no help from the Justice Department when he launched his own investigation into the bank.

Obfuscation and protection from the highest levels of power were defining characteristics of BCCI. The bank’s founder, Agha Hasan Abedi, who had a penchant for occult ramblings and mind games, surrounded himself with a bevy of politicians, community leaders, business giants, powerful criminals, and spooks.4 Prior to the formation of BCCI, Abedi, a Pakistani banker, had been an economic advisor to Sheikh Zayed bin Sultan Al Nahyan. Sheikh Zayed had been the driving force behind the formation of the United Arab Emirates and was the union’s first leader. According to one person close to Abedi, he had been the one who had first planted the idea of what would become the UAE in Sheikh Zayed’s mind.5

Abedi was something of a cosmopolitan, an internationalist, and an opponent of classical colonialism in the developing world. At the same time, he opposed socialist currents sweeping across the Middle East and elsewhere. A self-described liberal, he first conceived of BCCI as a “world bank, a global bank for the third world.”6 With backing from Sheikh Zayed, the Saudi royal family, and probably the Saudi intelligence service, what developed was something else entirely. BCCI’s expertise was in money laundering, capital flight, fraud, and much, much worse.

While the conventional narrative presents BCCI as an enterprise whose origins lay in Pakistani-Saudi networks of power, influence, and finance, there have also been allegations that the bank’s origins also involved the CIA. A 1992 report published in Newsweek cites an anonymous former officer of BCCI and its predecessor, United Bank, as well as a close associate of Abedi’s, who asserted that Abedi “had worked with the CIA during his United Bank days and that the CIA had encouraged him in his project to launch BCCI, since the agency realized that an international bank could provide valuable cover for intelligence operations.”7 This same source specifically mentioned Richard Helms, CIA director from 1966 until 1973, as having been involved in the bank’s creation. He told Newsweek, “What I have been told is that it wasn’t a Pakistani bank at all. The guys behind the bank weren’t Pakistani at all. The whole thing was a front.”8

According to Beaty and Gwynne, the bank’s organizational structure was divided between two very different worlds. On the front-facing side, “more conventional departments of [BCCI] handled such services as laundering money for the drug trade and helping dictators loot their national treasuries.” On the back end, meanwhile, was something that was called the “black network,” which reportedly continued after the demise of the bank. This black network “operates a lucrative arms-trade business and transports drugs and gold,” engages in sex trafficking and maybe even murder-for-hire. In some cases, it even helps shape the military capacities of entire nations.9

Thus, BCCI supported the work of A.Q. Khan, a Pakistani nuclear physicist and engineer known as the father of Pakistan’s nuclear weapons program. This work had begun after India tested the “Smiling Buddha,” their own nuclear weapon, in 1974 and it was carried out under the auspices of Khan Research Laboratories. The clandestine laboratory operated several front groups, one of which was the Ghulam Ishaq Khan Institute of Engineering Sciences and Technology. A “philanthropic” arm of BCCI, the BCCI Foundation, provided funding for this institute.10

According to Beaty and Gwynne, BCCI obtained, on behalf of Pakistan and Iraq, an experimental weapon called a “Columbine head.”11 Columbine heads were allegedly a type of thermobaric bomb, better known as a “fuel air explosive,” as they suck in the surrounding air to create a powerful explosion.

It was not all bombs, however, when it came to BCCI’s activities in Abedi’s home country. The bank also played an important role in tightening relations between Pakistan and states in the Persian Gulf. The economic development of Saudi Arabia and Abu Dhabi had been built on the massive flow of cheap labor from Pakistan. There was a reciprocal flow of money from those states back to Pakistan through migrant remittances, that is, money sent by laborers to their families at home.

In the developing world, remittances are often a complicated issue, with the lack of strong banking sectors and financial regulations resulting in everything from overcharging for financial transactions to outright theft. BCCI stepped into this world and soon made itself the primary conduit for the flow of such money. It was a win-win for all parties: the functioning of this system solidified the use of Pakistani labor by states in the Persian Gulf, while Pakistan received in-flows of foreign currencies. It was good for BCCI, too: the remittance float was registered on BCCI’s balance sheets, allowing the bank to appear far more cash-rich than it really was.12

Other services that BCCI provided for the Arab ruling families included the procurement of “Pakistani prostitutes … typically teenage girls, known as ‘singing and dancing girls.’”13 When discussing these types of activities, the Congressional report on BCCI came close to revealing the bank/black network dichotomy discussed by Beaty and Gwynne in TIME. The head of BCCI’s Pakistan operations was a close friend of Abedi named Sani Ahmad. Nazir Chinoy, BCCI’s general manager for France and Africa, told investigators that “Sani was the trusted man for things no one else was supposed to know. We were the technocrats. Sani Ahmed would handle the things we wouldn’t, like get girls. If anyone paid anyone any money [as a bribe], Sani would have been the one to do it.”14 BCCI’s role in sex trafficking, including of minors, is discussed in chapter 11.

Early on, BCCI saw a pipeline into the US financial system as being necessary to its success. The earliest attempts to cement this connection saw Abedi court American Express. This plan was abandoned when American Express demanded significant influence over BCCI’s internal activities. Abedi then pivoted toward Bank of America, one of the largest American banks that, since the 1960s, had been active in the Eurodollar trade. Bank of America became a large stakeholder in BCCI, holding some 30 percent of the stock, and a number of the bank’s officials joined the BCCI board.

Bank of America later sold that 30 percent, expressing concern over BCCI’s activities. It looked like Bank of America was engaging in due diligence, but appearances were deceiving. As the Congressional BCCI report pointed out, Bank of America “would in fact retain correspondent banking relations with BCCI, continually seek additional business from BCCI, collude in least one of BCCI’s purchase of foreign banks through nominees in South America, and earn a great deal of money from the relationship until BCCI’s closure.”15

Ultimately, Bank of America’s sale of the shares simply allowed BCCI to further develop its complicated web of front companies, proxies, and offshore entities that it used to mask its activities. The bank turned to ICIC (Overseas) Limited, set up in the Caymans by BCCI, to act as a clearinghouse to sell shares of BCCI subsidiaries.16

Beyond their relationship with Bank of America, BCCI’s major penetration of the US financial system came through the bank’s involvement with Bert Lance, a prominent banker from Atlanta and a close friend of Jimmy Carter. He served as an advisor to Carter’s 1976 presidential campaign and was subsequently named director of the Office of Management and Budget (OMB). However, Lance was soon forced from his post under the cloud of scandal. In the words of the Congressional BCCI report, “By September 21, 1977, when Bert Lance tendered his resignation from the position of director of the [OMB] to President Jimmy Carter, Lance had become the most notorious banker in the United States.”17

Lance’s notoriety was directly related to the National Bank of Georgia, of which Lance had become president in 1975. His time there was marred by controversy. For instance, he had particularly tense relations with the bank’s parent company, Financial General Bankshares (FGB), “for making loans which both exceeded his lending limit and were not secured by collateral.”18 These activities, as well as similar ones that Lance had carried out at other banks, haunted him during his time at the OMB, particularly when Carter asked Congress “to suspend ethics rules that would have forced Lance to sell 190,000 shares of stock he owned in National Bank of Georgia. He based his request on the ground that Lance would lose $1.6 million if he was forced to sell, because the bank’s stock was depressed.”19 His request instead resulted in a sweeping investigation into Lance’s banking practices.

Lance was also violating regulations by engaging in other financial activities while serving in public office. FGB’s major stockholder and controller, Gen. George Olmsted, was under orders from the Federal Reserve to unload his stock due to laws governing holding companies. He approached Lance for help, and Lance began the hunt for buyers for their holdings in FGB and National Bank of Georgia.

Olmsted is an intriguing figure, and his history in banking might shed some light on why FGB was such a hot commodity in the 1970s. During World War II, Olmsted wore many hats, with involvement in everything from managing lendlease arrangements to working in intelligence in the China-Burma-India theater. After the war, he took control of International Bank in Washington, DC, and built a business empire with extensive holdings in other banks, real estate, and insurance companies. It was through International Bank that he bought his controlling stake in FGB. Another major International Bank holding was the Cayman Islands-based Mercantile Bank & Trust. Mercantile was one of the many banks that composed Paul Helliwell’s dark money network, and it owned a stake in his Castle Bank & Trust.20

During his last days as director of OMB, Lance put Olmsted in touch with J. Middendorf, who had served as Secretary of the Navy and as ambassador to the Netherlands under President Nixon. Middendorf was also close to Carter, who had offered to retain him as Navy Secretary. Middendorf opted instead for a career in the private sector. He was immediately intrigued by Lance’s plan, and the “Middendorf Group” was put together to take over FGB.

The Middendorf Group consisted of prominent business figures like Jackson Stephens, the Arkansas kingmaker behind Stephens, Inc.; the banker Jorge Pereira; and Armand Hammer of Occidental Petroleum. Stephens, discussed in greater detail in the next chapter, was particularly important to the whole chain of events involving FGB and its takeover by BCCI. He had known Lance since at least 1975, likely through their mutual support for Jimmy Carter, whom Stephens had allegedly known since their days at the Naval Academy. Stephens and Lance continued to work together on selling-off FGB even after the Middendorf Group fell apart. Reportedly, Stephens was involved in the bank’s convoluted affairs because he “wanted FGB to use a company he controlled, Systematics Inc., for its data processing business.”21

Other prospective buyers had different motives. Armand Hammer, for example, saw a gold mine of valuable information that could be leveraged for political and economic gain. FGB “had outstanding loans to more than one hundred US senators and congressmen.… Hammer explained that all these congressional borrowers had submitted statements to the bank that revealed their precise financial status, including their debts, earnings, real estate holdings, other assets.… Hammer had blackmail in mind.”22 As will be mentioned in Chapter 9, Hammer’s father had been a spy for Soviet intelligence, and suspicions that he too had a relationship with the security-intelligence apparatus of the USSR dogged Armand Hammer for years. This makes his interest in using FGB for the “financial blackmail” of American senators and congressmen particularly significant.

However, Hammer eventually abandoned his takeover scheme and sold off his shares to BCCI frontmen. It is possible that his encounter with the bank was not a one-off event, however, as throughout the 1970s, roughly one million shares in Hammer’s Occidental Petroleum were held by one of BCCI’s agents, Ghaith Pharaon. In a New York Times blurb on the arrangement, Pharaon was described as Occidental’s representative in Saudi Arabia.23 Later, Occidental partnered with the London-based Attock Oil Co. Ltd., which was led by a handful of BCCI players. These included Pharaon and Kamal Adham, the former Saudi intelligence chief and co-founder of the Safari Club.24

BCCI came to be involved with FGB only after the Middendorf Group had begun to split apart. The primary agents in the BCCI takeover of FGB were Lance, Stephens, and Eugene Metzger, a Washington attorney who had formerly served in the Justice Department and the Office of the Comptroller of the Currency. It appears that BCCI was first interested in the FGB subsidiary, National Bank of Georgia. During a meeting with a BCCI representative in Little Rock, Arkansas, Stephens and Lance suggested that they purchase FGB. Shortly thereafter, the pair, joined by Metzger, began to accumulate large holdings of FGB stock, purchased on both the open market and from individual shareholders. These shares were then sold to investors operating on behalf of BCCI, including Kamal Adham.

By January 1978, BCCI had secretly gained control of 20 percent of FGB. Facing a hostile takeover, the bank’s leadership hit back with a lawsuit aimed at Abedi, Lance, Metzger, Stephens, and Stephens’ companies Stephens Inc. and Systematics.25 The US Securities and Exchange Commission launched its own suit, charging securities fraud. To defend itself against this legal onslaught, the “Lance group” retained the services of Clark Clifford and Robert Altman. According to Clifford and Altman, this was their first interaction with BCCI. Their timeline may not have been entirely truthful, however, considering the contents of a Washington Post article from December 1977. In the article, Altman is quoted as saying that Lance was involved with “Middle Eastern financial interests” and had set up for them “a holding company to direct their capital into banks and other U.S. investments.”26

The SEC suit was settled quickly, but the challenge posed by FGB tossed roadblock after roadblock in BCCI’s path. The battle dragged on for a year before a Maryland judge ruled in favor of FGB, stating that the bank could not be acquired via hostile takeover. BCCI was blocked but not defeated. Clifford selected three of his close associates to act as hidden proxies for BCCI’s interests and managed to get them onto the board of FGB. One of these individuals, former Senator Stuart Symington, was also made the chairman of a company, registered in the Netherland Antilles, called Credit and Commerce American Holdings N.V. Credit and Commerce American Holdings’ stock was owned by various BCCI principals, and it acted as the holding company for Credit and Commerce American Investments B.V.

Another man involved in Credit and Commerce American Holdings was Mohammed Rahim Motaghi Irvani, an Iranian billionaire and a business partner of former CIA director Richard Helms.27 Irvani, referred to in the BCCI Affair as “BCCI’s lead front-man in the original takeover” of FGB, was directly assisted by Helms in these efforts. As a result, media reports later noted that “U.S. Senate investigators are examining dealings between Helms and Irvani that it said raise questions about the CIA’s knowledge of BCCI’s evolution into a criminal organization.”28

Helms and Irvani also had interlocking business interests with Roy Carlson, the Bank of America executive who had overseen the bank’s 1972 purchase of 30 percent of BCCI’s shares. In 1975, Carlson left Bank of America to oversee the business interests of Irvani.29 Years later, Carlson became vice president at Helm’s consulting firm.30 Both Carlson and Abedi also had documented ties to BCCI. Carlson had accompanied Abedi on business trips, while Irvani had been recruited into BCCI’s affairs directly by Abedi himself.31

This maze-like structure of offshore companies hid the ultimate controlling body, which of course was BCCI. By forming yet another layer, a dummy company set up beneath Credit and Commerce American Holdings, BCCI was able to evade the prohibition of regulators and finally take control of FGB. Clifford and Altman relayed to regulators that these new purchasers were in no way connected to BCCI, and despite the overwhelming abundance of evidence that they were BCCI proxies, the Federal Reserve and other regulators began the approval process. In this sudden about-face, the US government appeared to be simply ignoring the obvious.

Catherine Austin Fitts, former assistant secretary for housing–federal housing commissioner at the US Department of Housing and Urban Development during the George H.W. Bush administration and an investment banker with the Hamilton Securities Group and Dillon, Read & Co., was placed on the board of First American Bankshares (the name of FGB following its takeover by BCCI) following the collapse of BCCI in 1991. She later stated that, after reading through troves of documents regarding the bank’s activities prior to its implosion, it was clear that there was “no way” its clandestine activities were carried on without the full knowledge of the Federal Reserve, specifically the Federal Reserve Bank of New York, and the White House.32 Did such knowledge extend back to the when BCCI finally gained control of FGB?

After the takeover, FGB was rechristened First American Bankshares, and an impressive plan for growth was launched. Clifford stated that he wanted First American “to be one of the twenty biggest banks in the country,” and, by 1989, it held over $11.5 billion in assets.33 It also embarked on a close working relationship with its hidden parent company. Dozens of BCCI subsidiaries held accounts at First American branches, and Abedi arranged for BCCI managers to take top positions at the bank.

Meanwhile, Abedi courted US politicians and developed a particularly close bond with Jimmy Carter.

As BCCI burrowed deeper into the US financial system, Abedi and his close cohorts became involved with the Carter Presidential Center. Abedi, Adnan Khashoggi, and Clifford were all large donors to the center, and BCCI became a mega-donor to a third world development project set up by Carter called Global 2000. Abedi was selected to serve as co-chairman of Global 2000, while Carter himself was the acting chairman.34

Another politically connected philanthropic outfit that BCCI became connected to was called the Chiefs of Police National Drug Task Force (COP), which received money from First American.35 The head of COP was the Utah senator Orrin Hatch, who became a defender of BCCI during its collapse and who had ties to a number of its principals. Another figure involved in COP was Randy Anderson, the son of DC journalist Jack Anderson whose roles in Watergate and the Profumo Affair were discussed in previous chapters.

First American’s board included Robert Keith Gray, who joined shortly after the bank was renamed.36 Seven years later, in 1988 – after Gray had rejoined Hill & Knowlton, with his Gray and Company becoming a subsidiary of the firm – H & K was retained by BCCI after the bank was indicted in Tampa for drug-money laundering. As part of its campaign to distance BCCI’s image from illicit activity, H & K “disseminated materials discrediting persons and publications whose statements were later proved accurate about BCCI’s criminality.”37

As for FGB’s/First American’s subsidiary, National Bank of Georgia – it was purchased by BCCI front man and business partner of Armand Hammer, Ghaith Pharaon. While the Office of the Comptroller of the Currency expressed concern over the purchase, the regulators ultimately allowed these transactions to go through. Roy Carlson, the former Bank of America executive who first forged ties between that bank and BCCI, was “recruited by Abedi to run the National Bank of Georgia” after it was purchased by Pharaon.38 Several years later, Pharaon resold the bank to none other than First American.

Pharaon, it should be mentioned, maintained significant political connections of his own. Just prior to his first encounter with Bert Lance, he had bought a large block of stock in the Main Bank of Houston, Texas. Another Arab investor was the Saudi billionaire Khalid bin Mahfouz, the power behind the prominent National Commercial Bank. Like Pharaon, bin Mahfouz was extremely close to BCCI and even owned shares in the bank. Later, in 1986, plans were underway for bin Mahfouz to take over both BCCI, and Credit and Commerce American Holdings, but internal auditors for National Commercial raised too many questions about the arrangement.39

Other investors in Main Bank alongside Pharaon and bin Mahfouz included John Connally, the former governor in Texas who was soon to become a major player in the world of defrauding savings and loans. There was also James R. Bath, a close friend of George W. Bush and, according to his former partner, Bill White, a CIA asset who had been personally recruited by George H.W. Bush in 1976, when Bush was director of the Agency.40

Bath had a long career in aviation, real estate, and finance. Early on, he became a vice president at the Texas division of Atlantic Aviation, which was controlled by the powerful DuPont family. This was followed by Bath/Bentsen Interests, a real estate development company that he co-founded with Lan Bentsen, the son of future Clinton treasury secretary, Lloyd Bentsen Jr. In 1976, the year he was reportedly recruited by G. H.W. Bush and the CIA, he created Jim Bath and Associates. Almost immediately thereafter, Bath’s career took a rapid, upward ascent: “He was named as trustee for Sheikh Salem bin Laden of Saudi Arabia.… Bath’s job was to handle all of bin Laden’s North American investments and operations.”41 He also was made the trustee for bin Mahfouz’s US investments.

Russ Baker, in Family of Secrets, recounts how Bill White told him that Bath’s recruitment by G. H.W. Bush was intimately connected to the growing relationship between Saudi Arabia and Texas oil.42 Bath, it seems, was something of a middle man for these two parties – and his presence alongside the two BCCI-linked individuals, Khalid bin Mahfouz and Ghaith Pharaon, should be understood in that context.

BCCI’s reach extended far beyond Saudi Arabia, Pakistan, and the United States, as it was truly global in scope. The bank maintained, for example, a presence in the People’s Republic of China. During the “reform and opening up” of the PRC under the leadership of Deng Xiaoping, BCCI was the second foreign bank to open branches in the country. It “secured substantial deposits from the Chinese government and its business affiliates”; according to the BCCI Affair, Chinese officials and government entities lost around $500 million when the bank collapsed.43 BCCI also maintained joint ventures with other businesses within China. One of these was the China-Arab Bank, a joint venture with the Abu Dhabi Investment Authority.

At the time, the relationship between the PRC and the Soviet Union was considerably strained – and yet BCCI was in the USSR as well. In an appendix to the BCCI Affair titled “Matters for Further Investigation,” the joint activities of BCCI and the Foreign Trade Mission of the Soviet Union in London was highlighted as significant, but little information was added. The report states that “obtaining the records of those financial transactions would be critical to understanding what the Soviet Union under Brezhnev, Chernenko, and Andropov was doing in the West.”44

One clue as to USSR-connected activities was reported by Jonathan Beaty and S. C. Gwynne in their book on BCCI. Beaty was told by a German arms dealer, whom they refer to as “Heinrich,” that the Soviets were buying Western high technology via BCCI – in this instance the Navstar GPS system.45

Throughout the third world, BCCI presented itself as a development bank. This allowed it to gain intimate access to governments, emerging markets, and the financing systems that they required. It was the “second largest of all lenders to the Congo,” while in Cameroon it developed close ties to the country’s finance ministry – and bribed them to take high-interest loans from the bank.46 The BCCI Affair charges that BCCI cultivated relationships with the United Nations outpost and the US embassy in Cameroon as well. In Nigeria, meanwhile, BCCI cozied up to the nation’s central bank and apparently traveled with their top financial functionaries throughout the world. One witness reported that, at a meeting of the World Bank in Seoul, they had observed “one of the BCC[I] officers with a lot of cash, handing it out to the staff of the central bank of Nigeria.”47

In Jamaica, BCCI became the intermediary between the state and the world financial system. It handled “essentially every foreign current account of Jamaican government agencies.”48 US government agencies were involved in this corruption of the Jamaican government, as BCCI became “involved in financing all of Jamaica’s commodity imports from the United States under the U.S. Commodity Credit Corporation.”49 The CCC itself was no stranger to skullduggery. As will be seen, it was implicated – along with BCCI and several connected banks – in the transfer of armaments and munitions to Iraq at the height of the Iran-Iraq War.

Through the Gulf Group – headed by Abbas, Mustafa, and Murtaza Gokal – BCCI had a foothold in global shipping. Abedi was particularly close to Abbas Gokal, the main figure in Gulf ’s shipping lines. He had courted him early on in BCCI’s existence, and an ever-escalating series of loans fueled the Gokal’s maritime interests, allowing the family to quickly control an impressive fleet. The Gulf Group and BCCI were so fundamentally interwoven, acting as practical extensions of one another, that when BCCI collapsed, the resulting shockwaves profoundly destabilized Gulf.50

Like Ghaith Pharaon, Abbas Gokal sometimes acted as a front man or proxy for BCCI. In 1975, for example, he attempted to acquire Chelsea National Bank, a small New York City bank. Regulators very quickly recognized that Gokal had practically no familiarity with the ins and outs of bank ownership – and they saw how closely tied he was to BCCI. In 1976, Gokal admitted that, upon acquiring the bank, he had planned to bring in a BCCI management team to run its operations.51

In the early 1980s, Gokal approached the intelligence/organized crime-linked Bruce Rappaport with an offer to buy 50 percent of his Inter Maritime Bank. Rappaport declined the offer and instead sold 19.9 percent of the bank’s shares to the Gulf Group and added Abbas to his board of directors52 Later, when he was shuffled off to prison for his fraudulent activities with BCCI, Abbas’ personal secretary went to work for Rappaport.

Was Gokal fronting for BCCI in Rappaport’s organization? It seems likely, as Rappaport himself maintained numerous ties to the bank. One of his top money managers, the Swiss banker Alfred Hartmann, was himself a BCCI frontman, while Rappaport held a significant stake in the illustrious Bank of New York, which was one of BCCI’s correspondent banks. Bert Lance, meanwhile, had mentioned Rappaport in his testimony before the official BCCI inquiry, stating that he believed that Rappaport had been dispatched by William Casey, Rappaport’s close friend, to spy on him and keep tabs on BCCI. “Lance said that Rappaport maintained contact with him for a period of years until the death of Director [William] Casey,” the BCCI Affair states, before adding that Lance “failed to mention in his testimony that despite his suspicions of Rappaport, he arranged with him to have one of his sons work in the financier’s New York bank.”53

Both Rappaport and BCCI were also engaged in various activities in the oilrich nation of Oman. BCCI had been active there since 1973, when, together with Bank of America, it set up the National Bank of Oman. Peter Truell and Larry Gurwin, in False Profits, note that the National Bank of Oman “became one of BCCI’s biggest units, with fifty-five branches.”54 Tellingly, the BCCI Affair suggests that “BCCI may have been moving money through the National Bank of Oman to fund the war in Afghanistan,” before adding that the National Bank of Oman and its CEO, Qais-Al Zawawi, also did business with CIA director Casey’s associate, Bruce Rappaport.55

Interestingly, one of the most active players in Oman’s oil market was John Deuss, the enigmatic oil trader whom Ted Shackley had gone to work for after leaving the CIA. In fact, Deuss reportedly hired Shackley specifically to help him operate in Oman.56 According to one of Deuss’ associates, journalist Susan Mazur, Deuss’ main contact in Oman was Qais-Al Zawawi of the National Bank of Oman. Could there have been a connection with the purported use of the bank by the CIA to finance the Afghan Mujahideen? It is certainly possible. As mentioned in the last chapter, there are rumors that EATSCO, the freight forwarder managed by Shackley’s crony Thomas Clines, was involved in the movement of arms and other war supplies to the Mujahideen.

Yet another major player in Oman during this period was a firm called Tetra Tech International. Once a subsidiary of Honeywell, Tetra Tech was run by former CIA officer James Critchfield, who was not only an old Middle East hand, but also a close associate of Shackley. In 1979, Tetra Tech was “given supervisory control … over the operations of [eleven] government ministries.”57 Major construction projects, the management of ports, the telecommunication infrastructure, the post office, and food inspections were just a handful of the things that Tetra Tech controlled in Oman. In addition, as noted in the last chapter, Donald Jameson, a CIA veteran who went to work for Tetra Tech, had been one of the attendees of the Le Cercle meeting tied to the October Surprise plot.

As the BCCI Affair makes clear, investigators also suspected a potential connection between Tetra Tech International and the similarly named Tetra Finance, a Hong Kong-based financial outfit that was closely integrated with the Hong Kong Deposit and Guaranty Company.58 Playing an active role in each of these institutions was John Shaheen, one of William Casey’s “Hardy Boys” and a central figure in the October Surprise plot. Shaheen was paid by each bank to broker deposits and to court wealthy Arabs to join their boards. Individuals who maintained a post on the board of each included Hassan Yassin, Kamal Adham’s successor as Saudi intelligence chief and a cousin of Adnan Khashoggi. Another was Al Mazrui, the head of the Abu Dhabi Investment Authority and director at BCCI.

Once again, BCCI appears, albeit surrounded by heavy fog, in the background of the covert conflicts of the 1980s. The support for the Mujahideen was just one of many such instances. Another is the Iran-Contra affair. A global web of operations and cooperating and competing factions, each with logistical networks dedicated to arms dealing, drug smuggling, and money laundering, the complexity of Iran-Contra is simply mind-boggling. Despite its involution, at nearly every level of these interlocking components and operations, one invariably finds the tendrils of BCCI.

BLACK EAGLE

When the Kerry Commission on terrorism, narcotics, and international operations was underway in the early 1990s, longtime BCCI executive Amjad Awan was one of the witnesses called to testify. Awan told the commission that he had acted as the banker for Manuel Noriega, the strong-man who had first come to power in Panama in 1983. Noriega would deposit “$3 million at a time in $100 bills” in BCCI, while Awan would disperse “$20,000 payments to Panamanian politicians at Noriega’s request.”59

Furthermore, according to Awan, Clark Clifford’s partner Robert Altman had personally intervened to obscure the massive flow of Noriega-connected funds into BCCI. As BCCI collapsed and regulators and politicians subpoenaed internal bank documents, Altman hid them by having them relabeled as “attorney work product.”60

A sizable chunk of Noriega’s wealth came from his deep involvement in the Latin America drug trade. According to Carlos Lehder, the Medellin cartel boss who had worked closely with Robert Vesco in the Bahamas, Noriega reached an agreement with Pablo Escobar and other Medellin leaders that made Panama a transshipment point for Colombian cocaine destined for the US. In exchange for “$1000 for each kilogram of cocaine and a percentage of every dollar of drug proceeds flown to Panamanian banks,” Noriega was purported to have guaranteed the safe passage of drug flights in and out of various airstrips across the country.61

Partial corroboration of Lehder’s claims comes from Steven Kalish, an American drug smuggler who worked closely with Noriega’s pilot, Cesar Rodriguez. Kalish was made a partner in Servicios Turisticos, a Panamanian airline owned by Rodriguez and Noriega, and was given “special military protection for shipments of money into the country.”62 According to Kalish, the relationship between Noriega and the Medellin cartel did not fully blossom until 1984, when he arranged for some of their cohorts to be released from Panamanian jail.

Noriega was also a CIA asset and had been since 1967, becoming the Agency’s eyes and ears in Panama. He became particularly close to George H.W. Bush when the future president was director of the CIA. Peter Dale Scott and Jonathan Marshall write that, in 1976, “CIA director George Bush arranged to pay Noriega $110,000 for his services [and] put the Panamanian up as a house guest of his deputy CIA director.”63 Noriega enjoyed a similar camaraderie with Bush’s rival, CIA director William Casey, who is alleged to have met with Noriega repeatedly in Washington, DC.

That Noriega served as both de facto drug baron and the CIA’s man in Panama became an issue for the US during the early 1980s, when Casey launched the first operations to support the Nicaraguan Contras in their fight against the ruling Sandinistas of Nicaragua. According to various journalists writing in the late 1980s this operation was code-named “Black Eagle.”64

Howard Kohn and Vicky Monks, in their 1989 Rolling Stone article on the operation, stated that, very early on, Casey recruited Israel’s Mossad “to arrange for the acquisition and shipping of weapons to the Contras.”65 As noted in the last chapter, Mossad had its own man in Panama, Michael Harari, who worked as an arms trafficker and security consultant for Noriega. The “Harari network,” as it was later dubbed, overlapped with the drug smuggling networks that were operated in Panama by the Medellin cartel. Though he was no longer officially in the employ of Mossad by this point, Harari’s activities were funded to the tune of $20 million from Israel.66

José Blandón, one of Noriega’s top advisors, later told journalists that Harari had worked with Duane Clarridge, the head of CIA operations in Latin America, and Donald Gregg, Vice President Bush’s National Security Advisor, to establish a network of bases for logistical support of the Contra conflict. Kohn and Monks appear to corroborate Blandón’s story, writing that the vice president’s office did have a role in the Black Eagle operation and that the man on the ground had been Donald Gregg. They add that the airstrips in Panama utilized by the CIA were the same as those being used by the Medellin cartel and that the arrangement between these parties had first been set up by Israel.

Independent accounts show that the prime years that Black Eagle was purported to have been running, 1982 and 1983, were busy ones for the US and Israel.67 In November 1982, the US government admitted to supporting rebel forces in Nicaragua. By March of the following year, the CIA had set up a $50 million intelligence apparatus in Latin America that was largely focused on Nicaragua, and US military advisors were placed in Honduras to advise the main Contra group, the Fuerza Democrática de Nicaragua or FDN. In the summer of 1983, the New York Times reported that Israel, at the urging of the US, was providing arms, confiscated from the PLO in Lebanon to the Contras.

In 1984 and 1985, Black Eagle began to fall apart. This was in no small part thanks to Noriega. As Kohn and Monks noted:

While helping to raise funds for the contras, Noriega was pursuing a favorite pastime – adding to his store of potential political-blackmail material. An insatiable collector of “negative information” about both friends and foes, Noriega is known to have hidden video and audio equipment in government offices to record meetings and phone calls. Early in the Black Eagle operation, according to Blandón, Noriega began to compile a dossier about the role of Bush and his staff. In the dossier is said to be copies of status reports sent to Gregg and videotapes of meetings held in Noriega’s office, plus a special report that Blandón prepared about Black Eagle on Noriega’s orders.68


With Noriega acting increasingly bold, tensions reportedly developed between US and Israeli operators throughout Latin America, each worried that the other would hang them out to dry if the link between the pro-Contra efforts and the Medellin drug flights was revealed.

Another issue was the increasing unpopularity of the Contra war in the US. Beginning in 1982, a series of laws passed by Congress limited the ability of the Reagan administration to provide military aid to Contra groups. This reached its apex with the 1984 Boland Amendment, which prohibited all US military aid to the Contras and hampered the CIA’s Nicaraguan operations. With a crisis mounting, Casey began to search for an alternative system that would allow him to continue the covert war. Soon, with the aid of his new protégé Oliver North, “the Enterprise” would be up and running.

The Enterprise appears to have been named as such because it was fundamentally a money-making endeavor, and its numerous tendrils and interlocking components cut across as many business ventures as they did covert operations. It was also an offshoot – if not a direct continuation – of Shackley’s private-intelligence apparatus. Richard Secord, who had been involved in the overbilling scam at the Pentagon that provided funding for EATSCO, was one of North’s right-hand men in the Enterprise’s money networks. Joining him was Albert Hakim, another veteran of Shackley’s world, as was Thomas Clines. As alluded to previously, the arms-for-hostage deals that ultimately torpedoed the Enterprise’s activities had come to North’s attention from a complex changing of hands. It had originated, however, in a meeting between Shackley and Iranian interests.

North, a marine and veteran of the Vietnam War, was apparently recruited into Shackley’s network in the early 1980s. In 1981, he joined the National Security Council (NSC), and in 1983 – right in the middle of Black Eagle – he became the NSC’s deputy director for political-military affairs. During his first two years at the NSC, however, he was an assistant to Robert “Bud” MacFarlane, who soon became Reagan’s National Security Advisor. MacFarlane’s career had depended on his development and maintenance of connections to prominent players. For instance, he had served as military assistant to Henry Kissinger and accompanied him on his secret trips to China. At the end of the 1970s, he was appointed by John Tower to head the US Senate Committee on Armed Services, and in 1981 he became an assistant to Alexander Haig. Tower’s critical role in the subversion of US national security by aiding Robert Maxwell in the PROMIS scandal is detailed in chapter 9. Notably, Tower and Maxwell had first been brought together by Henry Kissinger.

According to Joseph Trento, MacFarlane’s early work for Kissinger had been arranged by his mentor, Col. Jack Brennan, who was Nixon’s last chief of staff.69 Brennan and MacFarlane had stayed in touch over the years, and, at some point, North, while working under MacFarlane, was introduced to Brennan’s associate, Lt. Col. James M. Tully. Tully was close to Shackley and Secord.

Trento writes that he was told by Marine colonel and sometimes CIA asset William Corson that North had informed him about his growing ties to this crowd, who were then being used to operate off-the-books operations for the CIA and the National Security Council. “It was then that I realized what had happened,” Corson reportedly said. “These dumb bastards got sucked into the old Ed Wilson crowd: Shackley, Secord, Clines. The administration had let these guys in the tent, and it was only a matter of time before they owned the circus.”70

THE STRUCTURE OF THE ENTERPRISE

The basis for the Enterprise was a company founded by Richard Secord and Albert Hakim in 1983 called Stanford Technology Trading Group International (STTGI). It was one of many similarly-named companies that the pair had set up. They had formed the nearly identical Stanford Technology Corporation in the 1970s, and had since set up StanTech Services S.A.; Stanford Technology Corporation Services, S.A.; and Scitech, S.A, among others. A year after STTGI was formed, North introduced Secord to Adolfo Calero, the leader of the FDN, the CIA’s preferred Contra group. An arrangement was made where, thanks to a sizable cash donation from Saudi Arabia, STTGI would buy arms and resell them to the Contras.

This basic business arrangement rapidly ballooned during 1985 and 1986. Throughout 1985, Manucher Ghorbanifar (who, as previously noted, had brought an arms-for-hostages deal to Shackley), Israel’s David Kimche, and Michael Ledeen met multiple times to discuss the possibility of an arrangement between the Reagan administration, Israel, and Iran. Ledeen often reported back to McFarlane, who was by then National Security Advisor, on these meetings. At the end of August of that year, a US arms package – including 100 TOW missiles – was dispatched to Iran via Israel.71 The initial financing for this shipment, which was routed through his accounts at BCCI, was provided by Adnan Khashoggi.

Ledeen was, at this time, operating from North’s office at the NSC, though he later claimed that North was unaware of the arms sales. North, he continued, was busy trying to arrange for the freeing of the hostages in Lebanon. Ledeen was likely dissembling: according to the Tower Report, McFarlane told President Reagan that Israel has “taken it upon themselves” to sell arms to Iran in order to try to get hostages released.72 Roughly a month after this first arms sale, Kimche contacted McFarlane with news that one of the hostages was to be released, and more would follow. Records show that North was tasked with handling this situation.

By October, North was holding meetings with Ledeen and Ghorbanifar as well as Al Schwimmer and other players on the Israeli side of the operation in DC. The arms sales continued smoothly for the next several months. January 1986 was when the operation took on another dimension. During the course of a meeting between Oliver North, Edwin Meese, and Amiram Nir, Israeli prime minister Shimon Peres’ top counterterrorism advisor, Nir reportedly suggested to North that funds from the arms sales could be diverted to support the Contras. Shortly after this meeting, funds now destined for the Contras began to be routed through the Enterprise’s byzantine maze of corporate shell and holding companies.

The Enterprise maintained dozens of accounts held in the names of various dummy companies, usually in Swiss banks such as Credit Suisse. The primary receiving accounts, which dispersed money outward into the corporate compartments set up for the ongoing operations, included Energy Resources International, Lake Resources Inc., and the Hyde Square Park Corporation.73 North’s Israeli co-conspirators may have had access to these accounts as well.74

In order to manage this complex web, the Enterprise retained the services of Willard Zucker and the Geneva company he worked for, Compagnie de Services Fiduciaire or CSF. Zucker, a US tax lawyer, “had provided Hakim with financial services since the mid-1970s, when Hakim still lived in Iran.”75 Zucker’s connection to these players is made all the more interesting because of his background. He had been affiliated with Investors Overseas Services and had gained a seat on the mutual fund’s board during the ouster of its founder, Bernard Cornfeld.76 There are various rumors and suggestions that Zucker was one of Vesco’s proxies whom he arranged to get onto the IOS board.

Zucker’s role in Vesco’s takeover was obliquely referenced in a letter he wrote to Hakim concerning a trip he took to Seattle to discuss a series of business ventures with other Enterprise partners. Zucker states in the letter that he had met a businessman from Colorado who was involved in a venture with the politically connected oilman John M. King. The man offered to send Zucker materials relating to the venture, but Zucker declined. He added to Hakim that King “hates my guts because I helped bring down King Resources, the Colorado Corporation.”77

IOS had been involved with King Resources in some oil-and-gas ventures in the late 1960s, while King Resources acted as one of IOS’ biggest clients. King was close to Edward Cowett, IOS’ general counsel, director, and a member of its executive team. When IOS began to fall apart, Cowett conspired to help King take control of the company from Cornfeld. It was not meant to be. King failed and his King Resources slid into bankruptcy, while Vesco, King’s competitor, claimed the mutual fund.

In June 1982, CSF set up a Bermuda-based subsidiary called CSF Investments Ltd. Legal work for this company was carried out by Conyers Dill & Pearman – one of the preeminent firms specializing in offshore finance, with outposts across the Caribbean, London, and Hong Kong. The firm’s cofounder, Nicholas Bayard Dill, was a powerful presence in Bermuda politics. He and his law partner, James Pearman, were directors of Coastal Caribbean Oils & Minerals Ltd. According to the National Security Archive’s Iran-Contra chronology, Secord owned stock in this same company in the early 1980s.78 Later, when Contra support operations were fully underway, CSF Investments was used to acquire aircraft.

The Enterprise maintained numerous companies to manage the aviation wing of the Contra support operations. Southern Air Transport (SAT), the CIA proprietary airline utilized in the Contra airlift that was previously Air America (and before that, Civil Air Transport), worked closely with an Enterprise dummy company, registered in Panama, called Albon Values Corp. David Rogers, a journalist for the Wall Street Journal, wrote that “public records in Panama City list employees in the Geneva firm, [CSF], as principals in Albon Values Corp.… Roland Farina, an accountant at CSF, and Jacques Mossaz, an attorney at the Swiss firm, are listed as principal officers in Albon Values, which was registered by a Panama City law firm, Quijano & Associados, frequently used by CSF.”79

Costa Rica was one of the main staging grounds for North’s pro-Contra operations. Land belonging to John Hull, an American rancher, was the main location for the Contra airlift. Hull, who reportedly received a $10,000 monthly retainer from the Enterprise, claimed to have been the CIA’s main liaison with the Contras between 1982 and 1986.80 His involvement in covert operations seems, however, to have begun before 1982. Two years earlier, a far-right paramilitary group used his ranch as their base to launch an attack on a left-wing Costa Rican radio station.81 Hull was also reportedly close to the Free Costa Rica Movement, that country’s branch of the World Anti-Communist League.

In frequent contact with Hull was Robert Owen, who had been selected by North to serve as his own liaison to the Contras. Owen – unsurprisingly – had ties to Shackley that went back to the Vietnam War, and through him he had met Neil Livingstone.

Livingstone, as discussed, had been involved in Panama with Michael Harari, which opens the possibility that he may have been involved with Black Eagle. After Owen served a stint on the staff of Senator Dan Quayle, Livingstone recruited him to work at Gray and Company, the PR firm set up by Robert Keith Gray during his time away from H & K.82

Under the auspices of a PR campaign for the Contras, Livingstone set up a nonprofit organization called the Institute for Terrorism and Subnational Conflict, located in the Washington, DC, offices of the American Security Council. What it was really designed to do, according to the Congressional report on the Iran- Contra affair, was to act as an Enterprise cut-out to pay Owen for his work.83 To receive these funds, Owen set up his own organization, the Institute for Democracy, Education, and Assistance (IDEA).

The same day that IDEA was formed, Owen set up a sister organization, the Council for Democracy, Education and Assistance.84 One of the council’s directors, aside from Owen, was a retired Air Force general, John Flynn, who had reportedly been recruited by Hull to serve in that role. The council took in some $66,000 in donations for the Contras, all reportedly from the fundraising activities of conservative activist Carl “Spitz” Channell. In 1984, Channell had organized a tax-exempt foundation for the purpose of soliciting donations. This foundation, the National Endowment for the Preservation of Liberty was North’s vehicle of choice for garnering private donations for the Contras and other worldwide “freedom fighters” being backed by the Reagan administration.

Through the National Endowment for the Preservation of Liberty, money provided by wealthy donors courted by North and his associates – individuals like Texas oilman Nelson Bunker Hunt, Ellen Garwood, the daughter of a prominent New Deal-era administrator, and prolific confidence man E. Trine Starnes – would be flushed into an offshore banking system.85 Channell’s partner was a PR man by the name of Richard Miller, who maintained a company called International Business Communications. Money from the National Endowment for the Preservation of Liberty would flow to International Business Communications, which in turn would deposit the money into bank accounts in the Cayman Islands under the name of “I.C., Inc.” I.C., Inc. would then move the money to Enterprise bank accounts in Switzerland belonging to Lake Resources.86

Another fundraising apparatus utilized by the Enterprise was Citizens for America.87 Founded by conservative activist Lewis Lehrman, Citizens for America was, for a time, run by the infamous lobbyist Jack Abramoff. Citizens for America’s executives met personally with President Reagan. The organization would reappear during the Franklin child abuse scandal in Nebraska (discussed in chapter 10), as Lawrence King, the man at the center of that sexual-abuse ring, was a board member of and donor to Citizens for America during the Contra years.

By 1985, cracks in the Boland Amendment were forming, and the covert apparatus was ready to take full advantage of the opportunities at hand. Congress was still blocking “lethal aid,” but it authorized the State Department to move “humanitarian” supplies to the Contras. A special organization, the Nicaraguan Humanitarian Assistance Office (NHAO) was set up under the leadership of Ambassador Robert Duemling. From the outset, the NHAO was an extension of the Enterprise. It provided money to Owen’s IDEA, and Owen himself became an NHAO consultant. The CIA, meanwhile, recommended and vetted the companies that the office utilized to move the aid.88

This vetting process brought in a number of intriguing partners. One of these was the shrimp company Frigorificos de Puntarenas and its sister firm, Ocean Hunter. As previously discussed, Frigorificos was found to have been footing the bill for the storage of Robert Vesco’s aircraft in Costa Rica and was itself run by representatives of the Colombian drug cartels. One principal of both companies, Luis Rodriguez, was found by the FBI to have been “funding the Contras through ‘narcotics transactions.’”89

At the same time that the State Department was unlocking funds for Frigorificos and its principals were busy at work in the blossoming cocaine trade, North, Owen, and rancher Hull were working closely with those behind Frigorificos and Ocean Hunter on developing maritime warfare capacity for the Contras.90 Memos written by Owen refer to Frigorificos/Ocean Hunter ships being used as “motherships” for these operations. Incredibly, they also reference a “DEA person who might help with the boats.”91

Another curious pair of companies that simultaneously received NHAO funds, got tapped by the Enterprise for military support, and were implicated in drug-running operations were SETCO Aviation and Hondu Carib. Hondu Carib had been formed by Frank Moss, who had been a pilot for SETCO. According to the report of the Kerry Commission on narcotics trafficking, SETCO “had a longstanding relationship with the largest of the Contra groups, the Honduras-based FDN.”92 The aviation company, importantly, had been set up by “Honduran cocaine trafficker Juan Matta Ballesteros.”93 Matta, described in the press as the “boss of bosses of Mexico’s cocaine industry,” mainly partnered with the Cali cartel, which, by the 1990s, had overtaken the Medellin cartel as the dominant drug empire in Colombia.94

Matta and other members of his organization, the Guadalajara, were implicated in the kidnapping, interrogation, brutal torture, and murder of DEA agent Enrique “Kiki” Camarena, which took place in early February 1985. The cartel boss who had personally ordered the kidnapping of Camarena, Felix Gallardo, was reported to have bragged in court that he had “[supplied] arms to the Contras” and had brought together a network of drug traffickers “to finance their [the Contras] cause during 1983 and 1984, in exchange for protection.”95

Phil Jordan, former director of the DEA’s El Paso Intelligence Center, later reported that he was informed by Mexican authorities that “CIA operatives” were present for the interrogation and torture of Camarena and had made tape recordings of the agent’s final hours.96 Hector Berrellez, the DEA agent who led the investigation into Camarena’s death, stated that the CIA provided the DEA with those tapes. Camarena was first kidnapped by members of La Dirección Federal de Seguridad (DFS), a now-shuttered Mexican intelligence agency and secret police. When Felix Gallardo was boasting of his ties to the Contras, he also claimed that Contras were being trained at a law-enforcement training facility maintained by the DFS, which was acting as a front for the CIA.97

Frigorificos and Ocean Hunter, SETCO and Hondu Carib – these are just a few of the CIA-vetted companies that were recommended to the State Department for the delivery of “humanitarian aid” to the Contras. There was also Vortex, a Miami-based aviation concern run by Michael B. Palmer. The Kerry Commission report notes that, at the time Vortex was getting NHAO contracts for supply runs, “Palmer was under active investigation by the FBI in three jurisdictions in connection with his decade-long activity as a drug smuggler, and a federal grand jury was preparing to indict him in Detroit.”98 One of Vortex’s employees in this period, Joseph Haas, “was suspected of involvement in drug trafficking and had been a suspected marijuana trafficker since 1984.”99 He had also been a CIA contract agent but was “‘taken off ’ CIA’s payroll” in 1987 “because he had gone to work for a US law enforcement agency.”100

Vortex was brought to the NHAO’s attention by Pat Foley, described in the Kerry Commission report as the “president of Summit Aviation.”101 What the report left out, however, was that Foley had been (or had continued to be) a CIA operative and had earlier flown 747s on behalf of Flying Tiger Lines, the aviation company set up by the Chennaults and where Robert Keith Grey had maintained a spot on the board.102 Summit Aviation, too, had a fascinating history: it had been founded by Richard C. du Pont Jr., a member of the illustrious DuPont chemicals family and the son of one of the great boosters of aviation in the 1930s. Besides Summit, Richard Jr. served as a director at Edward du Pont’s Atlantic Aviation, where the aforementioned CIA asset and Bush ally, James R. Bath, had served as vice president.

In September 1983, a Cessna 404 twin-engine propeller plane entered the airspace of the Nicaraguan capital of Managua and began a miniature bombing run. The aircraft was quickly shot down, and Sandinista authorities found that it had been dispatched from Costa Rica. A subsequent investigation in the US press revealed that the plane had come from a company called Investair Leasing Corporation, headed by the former vice president of the CIA proprietary airline Intermountain Aviation. Before its doomed flight, it had been purchased by Summit Aviation, which had modified it with bombing capabilities and machine guns.
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Re: One Nation Under Blackmail, by Whitney Webb

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Part 2 of 3

SINGLAUB AND GEOMILITECH

The bombing attempt carried out by Summit Aviation foreshadowed some of the later activities of the Enterprise. For example, there was the case of Civilian Materiel Assistance (CMA), a militia group – likely a cover for members of the 20th Special Forces Group – that managed a Contra-support network and conducted cross-border raids with Contra forces from Honduras into Nicaragua.103 The CMA’s active presence in the conflict was revealed in 1984 when one of its helicopters was shot down, killing two of the group’s members. Despite the exposure, the CMA’s head, Thomas Posey, continued the Contra support operations and was linked to arms deals taking place at John Hull’s ranch.

Working closely with the CMA, and then later with the Enterprise, was Gen. John K. Singlaub. Singlaub was a veteran of the old OSS China network, which means that his entry into the world of covert activities took place alongside seasoned operators such as Paul Helliwell and E. Howard Hunt. After the war, he continued his military career while serving as one of the CIA’s clandestine warriors, popping up in special operations the world over. By the late 1970s, he departed from a high-ranking military position to protest Carter administration policies. It parallels the attitude of Shackley, with whom Singlaub was reportedly associated in Vietnam.

During the 1980s, Singlaub headed the US Council for World Freedom, the US branch of a global network of spies, criminals, Nazi exiles, fascist operators, and death squad leaders belonging to the World Anti-Communist League.104 By 1984, he was serving as the chairman of the league itself. Prior to this, some of the leading lights of the organization included Roger Pearson, an anthropologist who maintained ties to groups such as Willis Carto’s Liberty Lobby. Another was Swiss attorney Pierre Schifferli, who was rumored to have been involved in arranging massive weapon deals for UNITA in Angola.105 When he wasn’t arranging falsified end-user certificates for arms transfers or cavorting with a group called the Pinochet Foundation, Schifferli worked as one of the attorneys retained by Bruce Rappaport to represent the interests of Inter Maritime Bank.

The World Anti-Communist League and the US Council for World Freedom were interlaced with a host of like-minded pressure groups, dark-money fronts, private-intelligence apparatuses, and closed-door meeting places. These groups pressed for rolling back Cold War policies and boosting defense spending. More specifically, they pushed for the continuation and deepening of covert wars across the world; free trade policies, and other packages beneficial to multinational corporations; and the curtailing of civil and labor rights. Some of these, such as the American Security Council, appear to have participated in psychological operations aimed at the domestic population of the United States as well as abroad. Others, such as the Council for National Policy, helped broker the cozy relationship between evangelical Christians and the emergent New Right. High Frontier lobbied for the Strategic Defense Initiative, while the US Strategy Council brought together intelligence operatives with representatives of the Unification Church to coordinate policy and public relations activities, particularly through the Unification Church-controlled Washington Times.

Another group that operated in close proximity to the World Anti- Communist League was the Western Goals Foundation, a private-intelligence outfit set up by Congressman Larry McDonald in 1978. McDonald envisioned Western Goals as a clearinghouse, working in tandem with other private groups and law enforcement agencies to collect and share information on domestic groups deemed threatening to prevailing power structures. They engaged in propaganda via book publishing and, at one point, “solicited funds to create a computer database on American subversives.”106 During the 1980s, Western Goals fell under the control of Spitz Channell, who used it as one of the vehicles for private fundraising on behalf of the Contras.107 Notably, Western Goals’ effort to create a database on “American subversives” would be realized as part of the “Continuity of Government” protocol, which was developed by key players in the Enterprise and Iran-Contra and is discussed in chapter 9 in the context of the PROMIS scandal.

A Western Goals letter from 1983 lists a number of intriguing individuals comprising the advisory board. There was John Singlaub himself, as well as Adm. Thomas Moorer from the Nixon days. At this point, Moorer worked at both the American Security Council and H & K. Another Western Goals advisor was Roy Cohn. A 1982 New York Times article states that Cohn joined the foundation after being satisfied that it had “no ties to the right-wing John Birch Society” – despite Western Goals founder Larry McDonald having been a John Birch leader, and Cohn’s fellow advisory board member Roger Milliken having funded the society.108

Cohn’s interest in Western Goals may have been tied to the wider pro-Contra networks that were coalescing across the United States in the early 1980s. At the time, Cohn was serving as an attorney to his close friend Rupert Murdoch. (Robert Parry has written that the two first became close due to their mutual support for Israel.) According to New York Magazine, “Whenever Roy wanted a story stopped, item put in, or story exploited, Roy called Murdoch.”109 After Murdoch bought the New York Post, Cohn “wielded the paper as his personal shiv.”110

At the same time, Cohn was forging close ties with the director of the US Information Agency, Chad Wick, even hosting a luncheon in Wick’s honor that was widely attended by influential figures in the conservative press, as well as US senators and representatives. Soon after, then CIA director William Casey was spearheading an extensive propaganda campaign to shore up public support for Reagan’s Latin American policies, including support of the Contras.

This domestic effort was technically illegal, which caused the CIA to outsource the job to the private sector. As Robert Parry reported in 2015, Wick took the lead in obtaining private funding for the effort, and, just a few days after Wick promised to find private support, Cohn brought Rupert Murdoch to the White House. Parry later noted that, after this meeting, “documents released during the Iran-Contra scandal in 1987 and later from the Reagan Library indicate that Murdoch was soon viewed as a source for the private funding” for the propaganda campaign.111

After that meeting, Murdoch became the top media ally of this Casey-directed propaganda effort and also became increasingly close to the Reagan White House. Murdoch, as a consequence, benefited greatly from Reagan’s policies and his friendship with the administration, which allowed Murdoch to increase his US media holdings and to create the Fox Broadcasting Corporation in 1987.

In addition, Singlaub was named as a “consultant” to a Florida-based company called GeoMiliTech Consultants Corporation (GMT), which had been put together by Barbara Studley, a beauty queen turned conservative talk show host in Florida. Studley had also operated as a lobbyist and had worked at the Pentagon. The National Security Archive’s Iran-Contra Chronology suggests that Studley may have even set up GMT at the behest of Singlaub, as he was reported to have “suggested” to Studley that she start the company in 1983.112

GMT worked with various arms dealers to source and transport munitions to conflict zones such as Nicaragua and Afghanistan. Among the arms dealers it worked with were Ernest Werner Glatt and his sometimes partner, Samuel Cummings. Cummings, by way of his company Interarmco, was a longtime weapons merchant for the CIA. Cummings’ brother-in-law was none other than Senator John Tower, who in December 1986 was tapped by President Reagan to oversee the initial inquiry into the Iran-Contra affair.113 This was a conflict of interest of immense proportions. In addition, Tower, at the time, was close to Robert Maxwell, who had his own role in the Iran arms deals of this period and was actively working for Israeli intelligence. Also, by this point, Maxwell had secured Tower a place on the payroll of Israeli intelligence.

It is not surprising, then, that GMT had extremely close ties to Israel.114 The outfit’s executive vice president, Ron Harel, was a “veteran of the Israeli Air Force who specialized in ‘tactical cargo and light and early warning aircraft.’”115 He managed GMT’s overseas offices, which was conveniently located in Tel Aviv.

A sister company to GMT, Global Technologies Ltd., was also stationed in Israel and was overseen by Joel Arnon, an Israeli diplomat and military officer who was also a vice president of GMT. Global Technologies was located in Tel Aviv’s Asia House, a striking Bauhaus-style building that housed various diplomats and embassies. Asia House had been owned by the Israeli billionaire Shaul Eisenberg, who – as mentioned in chapter 3 – enjoyed close relations with the Israeli intelligence and security apparatus. In addition, GMT’s Israeli offices utilized the banking services of Israel Discount Bank. In 1986, portions of the money that were provided to Frigorificos and Ocean Hunter was deposited in Israel Discount Bank.116

Incredibly, there appears to have been ties between GMT and the clandestine activities of Robert Maxwell and those in his orbit. Key here was Nicholas Davies, the globe-trotting foreign editor for Maxwell’s Daily Mirror – where he was often known by the nickname that his boss had bestowed upon him: “Mister Sneaky.”117 According to Ari Ben-Menashe, Davies, like Maxwell, worked on behalf of Mossad, having been recruited in the 1970s from Strategic Intelligence Services, a British intelligence front led by a Special Air Service veteran named Anthony Pearson.118 By the 1980s, Davies – with Maxwell’s knowledge – was using his Daily Mirror duties to act as a cover for his involvement in Mossad-sanctioned arms trafficking.

Besides the Mirror, Davies also acted as the manager and representative of the Ora Group, “an Israeli company based in London.”119 Headquartered at Davies’ London home, Ora was set up with the aid of Ari Ben-Menashe, and operated as a key node in global arms flows. Among the “clients” that received arms – in this case weapons from the Soviet bloc – with the help of Davies and Ora was GMT.120 In his book Profits of War, Ben-Menashe reprinted a number of internal documents illustrating the role played that Davies played in these affairs, including communications between Ora and GMT.121

Davies vigorously denied the allegations made by Ben-Menashe, and the Daily Mirror made a number of counter-allegations, including the charge that the documents in question were forgeries. Another contested claim was that Davies had traveled to Ohio to meet with arms dealers.122 Davies went out of his way to claim that he had never been to Ohio, yet this was quickly proven to be false by various journalists.123 Likewise, the British Observer turned up other Ora-related documents, which included a telex from Davies to “renowned American arms merchant, Richard J. Breneke [sic].”124 Brenneke, as discussed in this chapter, managed an offshore financial apparatus utilized by the American and Israeli intelligence assets active in Operation Black Eagle. Brenneke would later state that he had met Davies, but did not know that he was involved with the Daily Mirror.125

Like all other shadow companies and strange entities that surrounded the Enterprise and Robert Maxwell’s broader network, GMT was involved with the complicated world of offshore banking. To carry out their operations, Studley called on the services of Jean de la Giroday, a managing director at Geneva’s Banque Cantrade, itself a subsidiary of Union Bank of Switzerland with branches in Geneva and on the Isle of Jersey. Together, Studley and Giroday set up a company called Consulentia Ltd.; GMT’s principals were told to avoid maintaining records of this company’s existence. Consulentia is just one of the many enduring mysteries of this intricate web: while GMT’s Consulentia was set up in 1984, Robert Vesco stated that, when he was looting IOS, he utilized the “Consulentia sub of Banque Cantrade” in 1970.

In summer 1985, GMT was involved in the acquisition of arms on behalf of the Contras. According to the chronology published by the National Security Archives, Studley and Singlaub arranged “a $5 million shipment of AK-47 and RPG grenade launchers from Europe to Honduras onboard a 15,000-ton Greek flag freighter.”126 The arms may have been sourced from Eastern Bloc countries like Poland or Bulgaria, as Studley wrote to North in October of that year, “vociferously complaining that another arms dealer, Mario [Delamico], who was associated with the Florida arms dealer Ron Martin, was essentially horning in on their sources of Soviet-style armaments.”127

Several months after the October letter, in late December 1985, Studley and Gen. Daniel Graham – the vice chairman of Singlaub’s US Council for World Freedom and a close associate of CAUSA, the political arm of the Unification Church – attended a meeting with CIA director Casey. An unnamed CIA officer who was present at this meeting was asked by Congressional investigators if the meeting had involved a discussion of a complicated three-way trading scheme, developed by GMT as a means of sustaining finances and equipment for covert operations. The investigators described this scheme as “a circular arrangement in which a trading company would be established to supply freedom fighter movements which Congress was unwilling to support for one reason or another. … Israel would sell certain things, military equipment, to the People’s Republic of China, who would supply Soviet arms, which would then be brokered.… Israel would be benefited by the United States through a high technology support or other compensation.”128

A schematic outline of this trading arrangement that was entered into evidence shows the destination for the arms sourced from China.129 They would go to US-backed rebels in Afghanistan, Angola, Nicaragua, and Cambodia. GMT, in other words, was proposing the creation of a multinational economic arrangement that would bind together the US, Israel, and China through a series of credit extensions, technology transfers, and arms deals.

It is quite possible that this was the ultimate plan for what the Enterprise was intended to become, though the official narrative holds that this arrangement was never completed. It seems clear that certain elements of the plan did go into motion. Israel and China intensified economic and political relations in the 1980s and both actively collaborated with the US in covert operations. Chief among these was the arming of the Mujahideen in Afghanistan. Jeffrey Epstein was later alleged to have been involved in such arms deals, specifically those involving the Mujahideen. It appears that he may have facilitated major facets of something very similar to GMT’s US-Israel-China plan in collaboration with members of the Clinton White House, Chinese weapons firms and Southern Air Transport in the mid to late 1990s (more on this in chapter 17).

GMT’s other claim to fame was that it appears to have been involved in some of the very first arm deals with Iran, ones that predated the Enterprise’s formation but took place alongside the CIA-Mossad relationship during Operation Black Eagle. The plan was a swap: “trade 200 tanks for Iran’s US-built F-14 fighter aircraft,” which had been sold to Iran in the 1970s.130 Per this plan, Israel would have served as a cut-out for the tanks. It is quite possible that the scheme originated on the Israeli side of GMT. According to Alan Block, it was the first thing that Ron Harel had been involved with when he joined the company.

It is also possible that this was the groundwork for later arms-for-hostages arrangements. GMT worked closely with Israel Aircraft Industries (IAI), a major defense contractor for the Israeli military discussed previously in chapter 3. The founder of Israel Aircraft Industries, Adolph “Al” Schwimmer, had been heavily involved in weapons arrangements with Iran during the rule of the shah, and these arrangements had continued in secret after the Islamic Revolution. According to many press reports, it was Schwimmer who first concocted the idea to trade arms in exchange for the (attempted) release of hostage William Buckley.131

EDMOND SAFRA’S FUNNY BANK

Besides BCCI and Credit Suisse, another set of banks utilized by the Enterprise were Republic National Bank, headquartered in New York City, and Trade Development Bank, headquartered in Geneva and sold to American Express in 1983. Both of these banks were controlled by Edmond Safra, a Lebanese- Brazilian businessman who hailed from a long line of bankers. By the early 1990s, Safra was a billionaire, with Republic National among the five largest banks in New York. Both Safra and his bank, however, were dogged by controversy. Safra himself died under suspicious circumstances after his bank was implicated in large-scale money laundering and the possible theft of “stabilization credits” provided by the IMF to a financially devastated, post-Soviet Russia.

A decade earlier, Republic National Bank was named – but never indicted – as having participated in a money-laundering network called “La Mina,” which was the subject of a sweeping federal investigation called Operation Polar Cap.132 La Mina, which washed money for Colombian drug cartels, was composed of a circular daisy chain of banks, mines, gold refineries, precious metal brokers, and jewelry stores and provided the financial infrastructure for “airplane manufacturers and fixed-base operators” as well as “aircraft used to ferry drugs.”133

Unsurprisingly, one of the banks that factored into the La Mina daisy chain was BCCI. Elsewhere, Safra’s Trade Development Bank did business with loyal customers of BCCI such as Altaf Nazerali, a high-flyer in the world of securities fraud.134

Trade Development Bank and Republic National Bank are discussed in the fourteenth chapter of the Congressional report on Iran-Contra.135 There, Republic National is described as having “handled many of the Enterprise’s wire transfers.” Besides these sorts of transfers, the bank was further involved in a clandestine cash delivery system that took place “outside bank channels.” Nan Morabia, an officer at Republic National’s International Division, her husband Elliot, and their son David were utilized by the Enterprise’s money manager, Willard Zucker, to “make cash drops to Hakim, Secord, and others on their behalf.”136 Zucker would contact the Morabias with the amount required and tell them which individual the money was intended for. Then, that amount was deposited in an account at Trade Development Bank under the name “Codelis.” Sometimes, the money drops would take place at Republic National Bank itself. On at least one occasion, Robert Owen received $7,000 from Morabia at the bank in New York City.

Nan Morabia’s FBI 302 (i.e., summary of the FBI’s interview with her) states that she had known Zucker for “approximately 8 to 10 years” and that his “account at [Republic National] was already established when she began working in the International section.”137 She added that CSF maintained accounts at Trade Development Bank and that Safra had “contact with Zucker in Geneva.” She was not able to identify to the FBI, however, any potential business relations between Safra and Zucker, although she made clear that she assumed that such business did actually take place.

Yet, there were direct business relations between Republic National and CSF that were separate from – but by no means unconnected to – the Enterprise. In the summer of 1985, for example, CSF organized a Geneva-based company on behalf of Republic National called Republic New York Corporation Air Transport Services S.A.138 The purpose of this company was to maintain a private aircraft on behalf of Safra’s bank. At the end of 1985, the ownership of the plane was transferred out of the CSF-managed company to a Swiss aviation company called Aeroleasing S.A., which continued to maintain the plane on behalf of Republic National.

Aeroleasing was one of the aviation companies contracted by the Enterprise to ferry personnel around the world for various purposes. The Enterprise’s expenditure lists included in the Congressional Iran-Contra final report show that, under a section titled “Mid-East (Iran Arms),” a total of $226,998 had been paid to the company. The ultimate costs were likely much higher. In his testimony, Secord stated, “We owe an aeroleasing firm in Europe, I am told, about $60,000. Something like that. We still owe the firm Southern Air Transport, here in the United States, quite a bit of money. I think it is something just under $100,000. We can’t pay them.”139

Gordon Thomas, in his biography of Robert Maxwell, states that Safra and Maxwell had enjoyed a long-lasting friendship. They particularly enjoyed, Thomas writes, dining “on board the Lady Ghislaine when the yacht berthed opposite Safra’s home in Monte Carlo.”140 Their relationship was not all pleasure, however. According to Thomas, Safra allowed Maxwell to use Republic National Bank accounts to launder money coming from Eastern Europe.

When Maxwell was active in the Eastern Bloc, his primary base of operations was Bulgaria. There, as will be noted in more detail in chapter 9, Maxwell was deeply involved in the thorny Cold War issue of tech transfers – the often-illicit movement of high technology from the West to the Soviet sphere. This likely brought him into contact with Kintex, a state-owned trading company that had been organized by the Darzhhavna Sigurnost, the Bulgarian intelligence apparatus that was closely aligned with and ultimately answerable to the KGB. A CIA report on Kintex said it was a “central coordinator” of smuggling activities, with a “clandestine charter” to facilitate smuggling for Arab and Balkan drugs and arms traffickers and to “collect items of science and technology interest in the West.”141

Kintex was more than willing to deal arms to right-wing insurgencies as much as left-wing ones, with clients including those who opposed Soviet-backed forces. These included the Christian Falangists of Lebanon, the Grey Wolves of Turkey, and even the Contras of Nicaragua. Also closely tied to Kintex was Mohammed Shakarchi, a prominent Geneva-based currency trader and the owner of Shakarchi Trading. Shakarchi, who from his offices near the Zurich airport ran “the most sophisticated currency exchange and commodity trading operations in Switzerland” and courted state officials in Soviet-allied Bulgaria while being, at the same time, involved in the CIA’s covert support for the Mujahideen in Afghanistan. Between 1981 and 1989, a CIA front company called Argin purchased millions of dollars’ worth of rare currencies from Shakarchi, which were sold to raise money for the rebels.142

One of Shakarchi’s US partners was Capcom, a commodity-futures firm that “was created by the former head of BCCI’s Treasury Department … who capitalized it with funds from BCCI and BCCI customers.”143 This wasn’t the only familiar face engaging in funny banking with Shakarchi. A classified DEA report stated that Shakarchi’s currency-exchange services were “utilized by some of the world’s largest trafficking organizations to launder the proceeds of their drugtrafficking activities” and that part of his network included accounts at Safra’s Republic National Bank.144 Mohammed Shakarchi’s father, Mahmoud, was reportedly close to Safra.

Safra’s name can also be found in Jeffrey Epstein’s contact book, though the banker’s last name is misspelled as “Saffra.” There are two phone numbers listed for Safra and no addresses. Another individual in the book with ties to Safra, albeit through a rather circuitous route, is Michael de Picciotto. Picciotto, who had five phone numbers listed in Epstein’s contact book, has been associated with Engel & Völkers, the massive German real estate company and, since 2020, has served on the board of Aston Martin. He got his start, however, working at Union Bancaire Privée, a Swiss bank controlled by his family. He had joined as the managing director for their London offices in 1988 and eventually became “responsible for UBP’s global financial activities.”145

Union Bancaire Privée began life as Compagnie de Banque et d’Investissements of Geneva, founded by Edgar de Picciotto. Edgar, the uncle of Michael de Picciotto, came from a family with a long history in both banking and European diplomacy. The Picciotto family was fairly close to the Safras, and like Edmond Safra, Edgar de Picciotto was born in Lebanon. As their respective banking enterprises bloomed, the two became friends. In the late 1980s, when American Express disposed of Trade Development Bank, the Geneva bank that had formerly belonged to Safra, it was Edgar who bought it.146 The merger of Trade Development Bank and Compagnie de Banque et d’Investissements led to its reformation into Union Bancaire Privée.

Edgar de Picciotto was also, according to SEC filings, a member of the board of advisors to Quantum Industrial Holdings, a division of the complicated investment network of George Soros. Quantum Industrial Holdings held the majority of the shares of Quantum Industrial Partners, one of the advisors to which was George Soros’ brother Paul Soros. Paul’s son, Peter Soros, appears in Epstein’s black book with addresses in New York City and London and ten phone numbers.

Another item appearing in Epstein’s notebook that ties into this network is Aeroleasing. Both of Epstein’s books contain lists for the aviation company, for both its Geneva and Zurich locations.

THE MAINLAND SAVINGS CONNECTION

hen US arms began flowing to Iran at the end of August 1985, it was Adnan Khashoggi who advanced the initial capital – through his BCCI bank accounts – to put the thrust of the plan in motion. The initial “bridge financing” was $1 million, followed shortly thereafter by an additional $4 million.147 Khashoggi subsequently claimed that this $5 million, “plus an additional $2.5 million whose purpose was unclear” came from a loan provided by Roland “Tiny” Rowland, the well-heeled British tycoon, corporate raider, and member of the Clermont Club who was briefly discussed in the last chapter. While Rowland’s connection to Iran-Contra affair is well documented – and will be discussed shortly – he denied the validity of Khashoggi’s claims.

While this denial might simply be a case of Rowland trying to put distance between himself and the affair, it happens that shortly prior to the initiation of the arms transfers, Khashoggi came into $5 million via a surprising route: Mainland Savings, a Houston-based savings and loan. Mainland Savings, one of the S&Ls that collapsed spectacularly over the course of the 1980s, was plugged into a wider network of crooked land developers, organized crime associates, and other denizens of the murky world of covert operations.

Khashoggi’s ties to Mainland Savings dated back to 1977, when Mario Renda, an ambitious New Yorker with dreams of wealth and power, stepped off a plane in Riyadh, Saudi Arabia. He was then a partner in IPAD – the International Planners and Developers Construction Consortium – that hoped to gain a lucrative contract to build concrete homes in Jidda.148 Khashoggi, it was reasoned, would be the key to unlocking the deep pockets of wealthy Saudis and, after a meeting with Renda, the arms dealer committed himself to the venture. While IPAD’s ambitions were ultimately never realized, it resulted in a long-lasting relationship between Khashoggi and Renda.

After IPAD fizzled out, Renda leveraged the contacts he gained through his introduction into Khashoggi’s inner circle and secured a position as the treasurer of Arab International Bank. Interestingly, in 1973, this bank had formed a joint venture with Lonrho, the corporate monolith controlled by Tiny Rowland.149 Arab International Bank’s specialty was certificates of deposits (CDs): it would use vast petrodollar reserves to shop CDs around the world, seeking out the locations that had the highest rates of return. Renda positioned himself front and center in these efforts, which provided him with the idea for his next venture. In 1978, he returned to New York City and formed Arabas Inc., a “one-man firm” that was intended to broker deposits, likely on behalf of Arab clients.150

The timing was fortuitous. Against the backdrop of early 1980s deregulation fever, Renda became connected to Martin Schwimmer. Schwimmer, rumored to be a money-launderer for the Lucchese crime family, managed the pension funds for several New York unions, including Teamsters Local 810, which was reportedly close to organized crime interests.151 A plan was then hatched: Renda and Schwimmer would begin brokering deposits of union pension fund money into S&Ls across the United States, collecting along the way commissions from lending institutions and fees from the unions. Arabas was renamed First United Fund, and soon Renda and Schwimmer were moving billions into a string of savings and loans.

By the end of the decade, Renda and Schwimmer had deposited money in 130 S&Ls, all of which collapsed. Renda’s CDs were linked directly to massive borrowing at each of these institutions, which were generally unpaid. In addition, quite frequently, the borrowing was carried out by an interlinked network of organized crime associates. That collusion was undeniable. Besides the accusations of Schwimmer’s involvement with the Lucchese family, Renda was rumored to have “controlled a lot of money being loaned for the benefit of Paul Castellano,” the powerful head of the Gambino family and, until 1985, the chairman of the Commission, the Mafia’s governing body.152 Notably, Castellano was one of several organized crime figures who were clients of Roy Cohn.153

Khashoggi stayed close to Renda throughout these developments. One notable example of this involved a mobster by the name of Lawrence Iorizzo, the president of the mob-linked Vantage Petroleum Company. Iorizzo was close to Martin Carey, the brother of New York governor Hugh Carey and oilman Edward Carey. Vantage had taken over Carey’s Petroleum Combustion International, which by that point had already carried out numerous dealings with Iorizzo. Iorizzo would later testify that Martin Carey had been involved in bootlegging gasoline with him and that the profits from these operations had been funneled into Hugh Carey’s re-election campaigns.154

Iorizzo, in other words, was clearly politically connected, and this was what had caught Renda’s attention. Renda had wanted to help Khashoggi, who at the time was struggling to get the proper permits to build a helicopter landing pad at his home just outside New York City. An associate of Renda by the name of Leslie Winkler “told Iorizzo that … Renda might be able to assist Iorizzo in getting a fat oil contract if Iorizzo used his powers of ‘persuasion’ in New York to help Khashoggi.… Renda said if Iorizzo could ‘remove these obstacles,’ Khashoggi would be most appreciative.”155

At the same time that they were concocting a way to get Khashoggi’s helipad up and running, Renda and Iorizzo agreed to embark on a classic bank bust-out scheme, akin to what Renda and Schwimmer were doing with the savings and loans. Renda would make deposits at a bank, which would then make loans to a Panamanian shell company controlled by Iorizzo – loans that would never be repaid.156 The shell company that Iorizzo used was called Houston Holdings, and it had been purchased by Iorizzo from Steven Sandor Samos, a lawyer who maintained a lucrative trade in off-the-shelf Panamanian companies.157 Iorizzo and Samos had been introduced by Renda’s friend Leslie Winkler, and one of Samos’ primary business associates was a Florida banker named Ray Corona – the partner of Leonard Pelullo in Sunshine State Bank.158

Samos also made an appearance in the Iran-Contra affair. Southern Air Transport purchased a Panamanian company called Amalgamated Commercial Enterprises, which it used to “purchase and maintain planes carrying supplies to the contras.”159 ACE was one of Samos’ off-the-shelf companies, and all of the company’s officers were employed by International Management and Trust Corp., a company run by Samos. Another noteworthy link involves how ACE utilized bank accounts at the Banco de Iberoamerica, a location that Samos was accused of using as a conduit for drug money laundering.160 Banco de Iberoamerica was a subsidiary of the Arab Banking Corporation, a major international bank headquartered in Bahrain that offered floating rate notes on the open market on behalf of BCCI.161

Among the S&Ls where Renda and Schwimmer were brokering deposits of union pension fund money was Houston’s Mainland Savings. This same S&L became embroiled in a series of overly complicated financial transactions with Khashoggi and a slew of business partners, the origins of which go back to 1974.162 That was when Khashoggi purchased a large tract of property adjacent to the Galleria, a major shopping hub in downtown Houston that had been developed with the aid of the Marcos family of the Philippines. Khashoggi acted as front man for Imelda Marcos on more than one occasion.163 Khashoggi let the land sit bare until 1979, when he was joined by Clint Murchison Jr., scion of the Dallas oil family. With $15 million in financing courtesy of Texas Commerce Bank, the pair embarked on an ambitious development plan.

The plans never came to fruition and, three years later, Murchison exited the scheme. Khashoggi began looking for buyers for the land and began cooking up other real estate schemes. One of these was in Aspen, Colorado, where he and a developer named John Roberts planned to purchase property using a $44 million loan from Commerce Savings, plus an additional $14 million from San Jacinto Savings. In a now-obvious pattern, this money disappeared into the black void of Khashoggi’s finances. What was left was a staggering debt owed to a string of banks and S&Ls.

Mainland Savings, flush with deposits from Khashoggi’s friend Mario Renda, offered an ambitious way out of these problems by purchasing Khashoggi’s Galleria-adjacent property for the grossly inflated sum of $68 million dollars. Of this, $22 million would be put up by Mainland itself, with the remainder provided by a loan from Austin-based Lamar Savings. The plan was: “The $30 million in prior loans from Texas Commerce Bank and San Jacinto Savings would be paid off. Khashoggi would buy $10 million in preferred stock at Mainland and use $12 million as a down payment to buy foreclosed loans real estate (called ‘cash for trash’), thus boosting its capital and keeping regulators at bay. That left $16 million for miscellaneous costs and Khashoggi.”164

A problem arose when Mainland could only get Khashoggi’s property valued at $55 million, short of the $68 million that they had originally hoped for. They were able to inflate the loan up to $58 million, which covered most of the debts and miscellaneous costs – except for the $10 million that was to be used by Khashoggi to buy Mainland stock and bad assets. Luckily for Mainland, Khashoggi had additional properties next to the Galleria-adjacent tract in question, which he had financed through S&L borrowing. Khashoggi was issued lines of credit by Mainland that were marked for developing those properties, but they were actually used to cover the missing $10 million. But there was something else: “On the same day, Mainland signed a $5 million letter of credit to Khashoggi.”165

The deal between Mainland and Khashoggi over these lines of credit was reached on August 1, 1985, just weeks before the arms transfers to Iran were underway. These transfers, of course, relied on a $5 million advance from Khashoggi. As Pete Brewton notes, the $5 million line of credit from Mainland vexed regulators and attracted the attention of the FBI. It was then discovered that Mainland’s executives had worked to conceal it from the S&L’s board of directors. Khashoggi later denied that the $5 million came from Mainland, instead claiming that Tiny Rowland had been the source of the funds. However, as mentioned, Rowland denied this. Mainland, for its part, insisted the money was a guarantee to Khashoggi for his purchase of $10 million in Mainland stock – $10 million, it must be reiterated, that was coming from Mainland itself.

It might be tempting to write the Mainland events off as a curiosity, another dead end in the hall of mirrors that is the Iran-Contra affair. There are, however, other ties between Mainland and Lamar Savings – the institution that loaned Mainland the bulk of the money for the Khashoggi deal – and the netherworld of BCCI and intelligence agencies. Besides Khashoggi, one of the major borrowers at both of these savings and loans was Mounzer Hourani, a Lebanese-American from Utah with extensive interests in Texas real estate.166 Hourani might have had intelligence connections. “A former high-ranking officer at Lamar Savings,” writes Brewton, “said that Hourani claimed to have ties to the Mossad.”167

Ties to Israeli intelligence or not, Hourani was certainly linked to Utah’s Orrin Hatch, who, as mentioned, was tightly connected to BCCI and to First American. Hatch stated that he had known Hourani “from the mid-1980s and was partly based on their shared devotion to the Mormon faith.”168 Hourani, meanwhile, told NBC News’ Mark Hosenball that he had joined with Hatch and BCCI insider Mohammed Hammoud on “various private schemes to free US hostages held by terrorists in Lebanon.”169

In 1986, Hourani was in hot water over his borrowing at Mainland, which by that point had collapsed and had been taken over by the Federal SavingS&Loan Insurance Corporation. Hatch appears to have tried to intervene directly, penning a letter to the federal institution stating that a possible “resolution” could be found with respect to Hourani’s problems.170 Four years later, as BCCI began to fumble toward collapse, Hatch once again acted as Hourani’s lobbyist. He reached out to the beleaguered bank requesting that they lend money to Hourani for a series of real estate ventures in Illinois, Minnesota, and Texas.171 Hourani himself then sent a proposal for financing. It is not clear if any proposed loans were ever actually provided.

Hatch has one more connection to figures in this saga. In 1985, during the peak of his Mainland borrowing and the initiation of the Iran weapons sales, Khashoggi arrived in Salt Lake City, Utah, with grand plans to build “two goldcolored 43 story office towers that would dwarf the nearby Mormon Church office building, the tallest structure in town.”172 Khashoggi had been a presence in Salt Lake City since the 1970s, and this increased significantly during the 1980s. Yet, by 1987, construction on the towers had been abandoned and Khashoggi had fled Utah, leaving numerous unpaid loans and broken promises in his wake.

It was during this period, Hatch stated, that he had met Khashoggi. Details on their relationship are scarce, but, according to Hatch, their association was the senator “extending the courtesies he would to any big investor in Utah.”173

“A PAN-EUROPEAN PLOT”

A key aspect of the covert operations of the Reagan era that is frequently overlooked is that, with respect to the complex trafficking of arms to Iran, Oliver North and the Enterprise were dipping their toes into a much wider swamp of political and economic corruption, arms trafficking, and money laundering on a truly colossal scale. As the conflict between Iraq and Iran heated up, companies, banks, intelligence agents, and smugglers poured arms and military materials into both sides of a bloody war.

Despite laws barring such activities, the conflict in the Middle East was a boom time for many. For instance, there was the so-called powder cartel, a “pan- European plot” to move propellant powder for artillery and other armaments to Iran.174 At the top of this cartel was Bofors-Nobel, the Swedish arms combine that is now the Swedish subdivision of the massive UK-based defense contractor BAE Systems. Bofors had a close relationship with Iran that predated the revolution. In the early 1970s, the company entered into a business agreement with the country to build an armaments factory. Relations between the two were suspended following the revolution. However, a dip in Bofors’ balance sheet, a product of the downsizing of the Swedish military, led the company to embark on the lucrative path of embargo busting.

Moving propellant powder to Iran required numerous partners, complicit shipping agents, and payoffs to officials. The primary mechanism for coordinating this network was the European Association for the Study of Safety Problems in the Production and Use of Propellant Powders, a public relations group organized and set up by Bofors and other European weapons manufacturers following a series of disastrous plant explosions.175 This provided a convenient cover for these various arms merchants to come together, arrange the logistics for weapons orders, disperse the proceeds, and even inflate prices of their wares.

The Bofors powder cartel made extensive use of Italian companies for arranging shipping and payments. Soon, Italy had become the primary locus of this subterranean arms trade. In an October 1990 exposé in Euro-money magazine, the role of the French arms manufacturer Luchaire in the trafficking of arms to Iran was dissected.176 Luchaire had two subsidiaries based in Italy, SEA and Consar, which were used to arrange the movement of weapons through the Islamic Republic of Iran Shipping Lines. The ships would log false destinations and then make their way to Iran via secret routes. The arms loaded on these ships were not only sourced from Luchaire, as SEA and Consar acted as intermediaries for numerous European companies involved in the trade.

One such firm was Defarm, which was actively collaborating with Bofors in the illicit movement of propellant powder.177 The founder of Defarm was Nicola Dubini, who had cofounded Consar before he sold it to Luchaire. Another firm was a Portuguese arms brokerage called Defex, described in testimony as having a “close relationship” with Richard Secord, after having been introduced by Thomas Clines.178 It became one of the companies utilized by the Enterprise. According to Albert Hakim, Defex sourced weapons from Eastern Bloc arms manufacturers and merchants, which were then purchased and resold to the Contras.

Behind these moves were various European banks, some shadowy and others well known. On the shadowy side, there was International Bankers Incorporated, which issued lines of credit to SEA and Consar.179 The Italian branch of International Bankers Incorporated was located in a building owned by the scandal-plagued Banco Ambrosiano, which had been set up by Jean-Maxime Lévêque in 1982. Lévêque had previously been the president of Crédit Commercial de France, a sizable French bank that, incidentally, had lent Adnan Khashoggi large sums for his Salt Lake City ventures.180 The major shareholders of International Bankers Incorporated included the Saudi businessman Akram Ojjeh, a friend of Adnan Khashoggi’s, and Robert Maxwell.181

More well-known was the French merchant bank Banque Worms, which was nationalized by the Mitterand government in 1982. During the period when the French state owned the bank, it held 23 percent of Luchaire and aided in financing the flow of arms and powder.182 Joining Banque Worms in these efforts was a renowned Italian bank, Banca Nazionale del Lavoro. The interactions were complex, as R. T. Naylor has described in Patriots and Profiteers:

Bank Melli [the Iranian bank handling their side of the financing] would order its Italian correspondent banks to issue LCs [lines of credit] on behalf of Luchaire’s Italian subsidiaries, which sent them to Italy’s Banca Nazionale del Lavoro.… BNL would use the original LCs as security to issue their own LCs in favour of the Luchaire parent firm in France. That firm sent the LCs to Banque Worms for negotiation. When the goods were loaded up on board ships, Banque Worms would present its LCs to BNL for payment, and BNL would do likewise with the correspondent banks of Bank Melli. The use of back-to-back letters of credit was a simple but effective device for breaking up the money trail.183


London was another major hub for these activities, with various arms merchants playing a role in the flow of weapons as far back as 1981. Chief among these were Ben Banerjee, an arms dealer and owner of BR&W Industries, and his close associates Michael and Leslie Aspin. According to Die Welt, Banerjee and Michael Aspin were involved in negotiations between Oliver North and several representatives from the Iranian government in 1984 over the sale of $264 million worth of TOW missiles. Subsequently, evidence was entered as part of a British court case that showed that Banerjee’s BR&W Industries did indeed attempt to move 1,250 TOW missiles to Iran, which were obscured in customs invoices as “lift trucks.”184

These customs invoices were handled by BCCI, and they were “accompanied by telexes and letters on BCCI stationary of a nature and type ordinarily used by BCCI, showing BCCI providing counter guarantees and letters of credit involving the ‘lift trucks.’”185 What is more, according to Michael Aspin’s brother, Leslie, these TOW missile sales were indeed part of North’s operation. Leslie Aspin further claimed that he and North had opened three joint bank accounts at the Paris branch of BCCI to launder money for these sales and that one of these accounts was under the name “Devon Island.” The Senate subcommittee investigating BCCI learned that BCCI Paris did indeed have a Devon Island account, but they were unable to acquire internal documentation for this branch.

The use of suspect invoice techniques, such as classifying TOW missiles as “lift trucks,” seemed to be a habit of Michael Aspin’s. In the early 1980s, he was working closely with a British arms dealer named Leonard Hammond, who also manufactured machine gun parts through his company, Delta Engineering. Hammond and Aspin used Delta Engineering to move machine guns to the Middle East and Africa, with a particular focus on South Africa. By 1981, they were moving arms to Iran.186 Frequently, these arms flows were mislabeled on invoices as “hydraulic lifting tools.”

Aspin and Hammond had a particularly close relationship with Kuehne & Nagel, a large German freight-and-logistics company.187 When the arms dealers moved a thousand rifles to South Africa in 1980 – invoiced as “hi-lift hydraulic machinery spares” – K & N’s subsidiary Air Cargo handled the freight. In 1981, K & N worked with Aspin and Hammond in moving weapons destined for Iran. K & N, according to Aspin, played a role very similar to that which BCCI would later play in moving TOW missiles in 1984. He told Spiegel that “the management of Kuehne & Nagel knew about the illegal arms transports, planned the routes with necessary intermediaries, issued documents and change information.”188

In 1981, right as these operations were being developed, Kuehne & Nagel was acquired by Tiny Rowland’s Lonrho.189 Were these two events connected? It is impossible to say for sure, but there is reason to suspect that this was the case. As previously mentioned, one Lonrho freight cargo subsidiary has been identified as a participant in Edwin Wilson’s covert activities in Libya on behalf of the Shackley network. Lonrho obtained K & N shortly after the loss of that cargo company.

In addition to Italy and the UK, Belgium was a major node in this wideranging European network. Of particular interest are the allegations made in the ATLAS dossier, a confidential report drafted by the Belgian Gendarmerie in November 1994. ATLAS makes a series of startling accusations concerning an entity that they describe as “the Nebula” – a network of Belgian businessmen, politicians, and criminals who were involved in arms trafficking, diamond smuggling, drug running, and the like. At the center of the Nebula was Felix Przedborski, a businessman and Belgian diplomat who, since 1978, lived in Costa Rica, where he maintained dual citizenship.

There is a small, but steady stream of press reports independent of the ATLAS dossier that have linked Przedborski to various forms of corruption. Notably, in 1978, Italian police found drugs in a vehicle belonging to the Costa Rican embassy, with one of Przedborski’s employees at the wheel. That same year, one of Przedborski’s close associates who was serving as Monaco’s diplomat to Costa Rica, was arrested in connection with drug trafficking.190

When the Costa Rican newspaper La Nación published a series of articles probing Przedborski’s connection to various criminal enterprises – based largely on reports already published by European journalists – “Don Felix,” as he was known, responded litigiously. In the end, La Nación’s journalist, Herrera Ulloa, was charged with criminal defamation and forced to pay Przedborski “a fine equivalent to 120 days’ wages.”191

The ATLAS dossier names numerous individuals in Przedborski’s network. Among these were his son Daniel, a Geneva lawyer who was poised to take over his father’s complex. Interestingly, Daniel Przedborski, from 1984 through 2019, had worked at the law firm of Pierre Schifferli – Bruce Rappaport’s attorney who, as mentioned, had been head of the World Anti-Communist League. Documentation from several lawsuits suggests that Daniel worked directly on some of Rappaport’s affairs.

These are not the only familiar faces that appear in the dossier. In a list of banks used by the “Przedborski Group” for money laundering is Republic National Bank, with a note beside it stating that “in this bank it is a certain Safra who would be responsible for special transfers.”192 This, of course, refers to Edmond Safra, thus directly linking the Przedborski Group to Contra support operations and to Republic National. The ATLAS dossier further links the Przedborski Group or Nebula to these support operations: “It is said that some of the weapons of Irangate would have been transferred to the Contras of Nicaragua by this network.”193

ATLAS identifies one of the lesser-known members of the Nebula as Bruno Goldberger, a purported real estate broker from Brussels. It adds that Goldberger worked “for a certain Globus Group,” but the investigators who penned the document stated that they were unfamiliar with this entity. This was likely the Bulgarian state-owned trading company Globus. In Evil Money, Rachel Ehrenfeld cites a DEA report from 1989 that states that Globus “was formerly known as Kintex” – the Bulgarian firm tied to Safra’s friend Mohammed Shakarchi and, possibly, Robert Maxwell.194 The DEA report states Ehrenfeld recounted that “Globus transmitted Middle Eastern drug money to Switzerland via Shakarchi.”195

Przedborski’s time in Costa Rica overlapped with the country being used a major hub for the Enterprise’s pro-Contra efforts. The ATLAS dossier charges that, while he was serving a diplomat, Przedborski had embarked on a major business venture: the construction of a “tourist real estate project” in the Santa Elena region of Costa Rica.196 Intriguingly, North was also using the dense jungles of Santa Elena as cover for secret airstrips that were used for Contra support flights.197

Other connections to the Enterprise’s operations can be seen via another bank mentioned as being part of Przedborski’s network. This was Geoffrey’s Bank in Belgium, described in the dossier as a conduit for arms-smuggling payments. Geoffrey’s Bank had also been intimately connected to some of Roy Cohn’s suspect business activities (see chapter 4). Geoffrey’s Bank was controlled by Arno Newman, a friend of Cohn’s, and his son, Geoffrey, for whom the bank was named. According to Belgian journalist Willy van Damme, the Newmans were closely connected to Pierre Salik, a clothing manufacturer with close ties to Israel’s Mossad.198 Salik, importantly, was named in the ATLAS dossier as a member of Przedborski’s core group: it states that Salik’s daughters “were promised in marriage to the two sons of Przedborski,” though this never took place for reasons unknown.

A frequent visitor to Geoffrey’s Bank – and a close associate of both the Newmans and Pierre Salik – was Jacques Monsieur, described as one of Europe’s biggest arms dealers.199 Like Salik, Monsieur was close to Israeli intelligence. For instance, in 1986, Belgian authorities recovered documentation outlining his contacts with both Mossad and Iran. When he was arrested in Turkey in 2002, in part for having sold “embargoed American spare parts and aviation technology to Iran,” numerous press reports identified him as having been an active participant in the Iran-Contra affair.200

Willy van Damme writes that Monsieur’s introduction to the world of arms trafficking came through a partner of the Newmans named David Benelie. As noted in chapter 4, David Benelie was really David Azulay, the brother of Avner Azulay.201 Avner, a former Mossad agent, is best known as the business partner of the notorious commodities dealer Marc Rich, who himself worked closely with Israeli intelligence. Azulay was put in charge of the Marc Rich Foundation, the philanthropic appendage of Rich’s empire. The foundation has maintained
Rich has other ties to individuals and entities that populate this netherworld. There are rumors – albeit ones that are difficult to substantiate – that he was close to fellow oil trader John Deuss, who retained the services of Ted Shackley while Shackley was running his “private CIA.” There are more demonstrable ties between Rich and Rappaport’s Inter Maritime Bank and BCCI. In 1984, for example, the Rothschild Bank in Zurich loaned Rich the astronomical sum of $50 million Swiss francs. The managing director of the bank at that time was Alfred Hartmann, the money manager for Inter Maritime and a frequent BCCI front man.202

To complete the circle, the report of the US inquiry into BCCI states:

[quote]Marc Rich remains one of the most important figures in international commodities markets, and remains a fugitive from the United States following his indictment on securities fraud. BCCI lending to Rich amounted to tens of millions of dollars. Moreover, Rich’s commodities firms were used by BCCI in connection with BCCI’s involving in US guarantee programs through the Department of Agriculture. The nature and extent of Rich’s relationship with BCCI requires further investigation.203]/quote]

Others named in the ATLAS dossier as involved in Przedborski-linked arms trafficking suggested Przedborski’s group had close connections to the heights of Belgian political power. Featuring prominently among these names was Paul Vanden Boeynants, a meat-packing magnate who had been prime minister from 1966 to 1968 and again from 1978 to 1979. In the interim period, he served as Belgium’s defense minister, where he presided over a series of controversial arms deals and a weapons buildup. An adamant cold warrior, Vanden Boeynants moved among the webs spun by groups such as Le Cercle and the World Anti- Communist League.

Vanden Boeynants had a particularly controversial relationship with Roger Boas, another figure whose name appears extensively in the ATLAS dossier. Boas oversaw the Belgian weapons manufacturer ASCO, which profited handsomely during Vanden Boeynants’ years as defense minister. De Morgen reported that “as soon as the politician came to Defense in 1972, his company had probably not missed a single defense contract. ASCO … saw its profits increase tenfold in the 1970s.”204 Many of these deals bore the unmistakable signs of corruption, and allegations of bribes and kickbacks, embezzlement and money-laundering, harassment and intimidation often followed in their wake.205

There were also the accusations that Vanden Boeynants and Boas made use of a highly connected call girl ring headed by Fortuna Israel, better known as “Madame Tuna.” According to De Morgen, Madame Tuna was placed on the payroll of one of Boas’ ASCO subsidiaries, where her job title was listed as “decorator.”206 This ring had connections to other familiar faces. Madame Tuna, it seems, was also an associate of Adnan Khashoggi, who reportedly called upon her services for help in obtaining lucrative contracts through subterfuge and blackmail. Boas was reported to have been introduced to Khashoggi and Akram Ojjeh – an investor, alongside Robert Maxwell, in International Bankers Incorporated – by the madame herself.

A direct line between this network of connections and the early 1980s flow of weapons to Iran may well exist. Named in the ATLAS dossier as a member of Przedborski’s group was Abraham Shavit, Boas’ general manager at ASCO. The dossier describes Shavit as the “right arm of Roger Boas.”207 Shavit was well connected in Israel. For instance, in the 1970s, he served as the president of the Manufacturer’s Association of Israel and, afterward, had a stint as the chairman of El Al, Israel’s chief airline company that was involved in CIA-Mossad airlifts in the 1980s, including Operation Moses, and has also operated as a front company for Israeli intelligence. He was also reportedly a former Israeli intelligence officer and a close associate of Manuel J. Pires, a CIA-employed arms trafficker.208 Pires would later be identified as one of the Enterprise’s middlemen in the Iranian arm sales.

Prior to the Enterprise’s operations, in January 1983, ASCO’s Malta branch was involved in the transfer of “aircraft parts, weapons and ammunition” to Iran via a contact at Bank Melli.209 Two ASCO Malta invoices for these show that the shipments were underwritten with a line of credit from BCCI’s branch on Brompton Road in London. According to Gary Sick, one of ASCO’s liaisons to Iran for these types of arrangements was the arms dealer Hushang Lavi – one of the witnesses who claimed to have inside knowledge of William Casey’s October Surprise activities.210
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Re: One Nation Under Blackmail, by Whitney Webb

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Part 3 of 3

GUNS FOR IRAQ

Support for the Iran weapons arrangements was not universal within the Reagan administration and dissenting voices rippled through the corridors of powers. While such dissenters were unable to stop the virtually uncontrollable cascade of events, many of these individuals used the fallout from the scandal to concentrate their political power. Chief among these was George P. Shultz, President Reagan’s Secretary of State. During the inquiry into the activities of the Enterprise, Shultz turned over significant documentation to investigators and provided detailed testimony. The official Iran-Contra report states that Shultz used the opportunity afforded by the scandal to “to regain control over counterterrorism policy. Following a strenuous bureaucratic struggle, Shultz persuaded President Reagan to prohibit arms transfers to Iran and to announce that the Department of State would take the lead on such counterterrorism and diplomatic matters in the future.”211

Shultz testified that he only had fragmentary knowledge of the arms sales and that he had learned fairly late that they had taken place. Senate investigators found, however, that Shultz was far more knowledgeable about what was taking place than he had initially let on. Likewise, he had knowledge of the Iran sales far earlier than what he testified. Nonetheless, the record showed that his opposition to the sales was consistent. What is not mentioned, however, is that Shultz had interests involving Iran’s bitter enemy – Saddam Hussein’s Iraq.

Early on in his tenure as secretary of state, Shultz dispatched Donald Rumsfeld, who at the time was working as an executive in the private sector, to Iraq to meet with Saddam. The first of these meetings took place in December 1983, with a follow-up meeting in March 1984. Declassified documents illustrate the purpose of the visits was to move the US and Iraq toward normalizing relations, despite official condemnations of Saddam’s use of chemical weapons.212

Shultz, however, had other things on his mind when he dispatched Rumsfeld. Before he had become Secretary of State, Shultz had been an executive at the construction giant Bechtel. Prior to Bechtel, he had served in multiple positions in the Nixon administration, first as Labor Secretary, then as the Director of the Office of Management and Budget, and finally as Treasury Secretary.213 He was not the only Bechtel figure high up within the Reagan administration. Caspar Weinberger, who had served alongside Shultz in Nixon’s OMB, had also moved to Bechtel. Shultz and Weinberger carried on a multi-decade feud that spilled over into the Reagan administration. Weinberger, unlike Shultz, was a major booster of the Enterprise and had played a role in the Iran weapons transfers.

Bechtel, in the early 1980s, had launched an ambitious, multibillion-dollar project in the Middle East that sought to establish an oil pipeline that would move crude from Kirkuk, Iraq to the port of Aqaba, Jordan, on the banks of the Red Sea. A now-declassified memo from Rumsfeld, sent to the State Department during his December 1983 trip stated that he had “raised the question of a pipeline through Jordan. He [Saddam] said he was familiar with the proposal. However, he was concerned about the proximity to Israel as the pipeline would enter the Gulf of Aqaba.”214

Weighing heavily on Saddam’s mind was Israel’s Operation Opera in June 1981, when Israeli military aircraft bombed an unfinished nuclear power plant. The Iraqis would be on the hook for sizable loans connected to Bechtel’s project, and the possibility that Israel might destroy the pipeline would place a major burden on Iraq’s wartime finances.

The Bechtel pipeline negotiations became something of a boondoggle, rife with subterfuge and intrigue. It intersected in odd ways with the Iran-Contra project, and formed something of a parallel – if not an entirely opposing – operation. In the spring of 1984, Iraq and Jordan agreed to grant Bechtel a contract for pipeline construction that was dependent on several conditions. These included $500 million in financing from the US government; an agreement that American oil companies would take a sizable chunk of the oil moved by the pipeline; and that not only Bechtel, but American banks and the Export-Import Bank, would be involved in the guarantees for the project.215 As Alan Block points out, the rationale for these demands was simple: put the US government and American businesses on the hook for the project, and they would act as a buffer against Israel.

The agreement operated smoothly until Iraq made an additional demand. It wanted “a ‘force majeure clause’ that would free Iraq from its obligation to pay interest on construction loans in the event of Israeli aggression.”216 With this demand threatening to derail the whole project, an interesting figure interjected himself into the middle of the negotiations: Bruce Rappaport, Casey’s good friend and a BCCI insider. Interestingly, one of the directors of Rappaport’s Inter Maritime Bank, until 1979, had been a former consultant for Bechtel.

Rappaport wanted a discount on oil transported by the pipeline in exchange for guarantees from Shimon Peres that Israel would leave the pipeline alone. To sweeten the deal, Rappaport was prepared to grant Israel a portion of his profits from this oil deal. The deal with Israel would require two elements: a written security guarantee and an insurance fund for the pipeline set up by Israel. Israel, through Rappaport’s intercession, agreed to the former but not the latter, and so the tanker magnate reached out to the Reagan administration for leverage over Israel. He turned to two attorneys he was close to, Samuel Pisar – the powerful attorney whose client list has included Armand Hammer and Robert Maxwell – and E. Robert Wallach. Wallach, in turn, brought Rappaport to the attention of Reagan’s Attorney General Edwin Meese. Meese, in turn, managed to bring the National Security Council into the mix, which believed that US government entities like the Overseas Private Investment Corporation could be used to organize the insurance fund.

Several years of torturous negotiations began, with Rappaport acting as a back channel between the US and Israel. One letter, written by Peres, was passed from Rappaport to Wallach to Meese and stated that the Israeli politician would discuss the matter with Shultz himself. It was ultimately for naught. The NSC backed out of the project under the leadership of Admiral John Poindexter, curiously one of Oliver North’s chief allies and a major player in the movement of arms to Iran.

Despite this failure, in 1986, Rappaport received a sizable sum of money. Shultz concocted a plan to elicit a $10 million donation from the Sultan of Brunei for the Contras. Elliot Abrams was dispatched to handle the money transfer, and he provided an account number at Credit Suisse bank in Geneva for the deposit. It was presented as an account for the Enterprise’s Lake Resources, but when the money was transferred, it ended up in an account controlled by Rappaport. It was later written off as a mistake, with several numbers in the account flipped around and thus “coincidentally” depositing the money with Rappaport. Rappaport, for his part, would deny that he ever received the money – though some of his top personnel, as well as Bert Lance, later told Alan Block that Rappaport had indeed received the funds. Lance stated that the money was used for “pay-offs,” while Jerry Townsend – a CIA officer who worked for Rappaport – said that Secord had personally asked him to try to recover the money.

The Bechtel pipeline negotiations were unfolding against a backdrop of what has been described as a geopolitical “tilt” designed to “draw Iraq permanently into the camp of America’s Gulf allies.”217 A key component of this tilt was the expansion of lines of credit provided to Iraq that were arranged and guaranteed by the Commodity Credit Corporation (CCC), a New Deal–era public corporation set up to provide financing and protections for the US agricultural sector. Ostensibly, the CCC credits to Iraq were to be used strictly for agricultural purchases, with the US adding additional nonagricultural credits via the Export- Import Bank, the same entity involved in the Bechtel pipeline negotiations. The primary bank used to issue these credits was the Atlanta branch of Banca Nazionale del Lavoro (BNL) – the Italian bank that, as mentioned earlier, was working with Banque Worms in financing arms transfers to Iran.

In 1989, BNL-Atlanta was raided by the FBI, and revelations soon followed that the bank had been providing massive loans to Iraq that were “far in excess of the amounts reported to the Federal Reserve.”218 These loans, in turn, were being used by Iraq to purchase weapons. Beside the CCC-guaranteed lines of credit that were mixed in with BNL’s lending, the possibility was raised that the CCC itself – with or without its knowledge – had acted as an underwriter of arms deals. An investigation into what was dubbed “Iraqgate” led to the verdict that there was, in fact, no conspiracy on the part of the CCC and the Reagan administration to arm Iraq. Yet, the overlap in time with the Bechtel negotiations and Donald Rumsfeld’s trips to Iraq seems to paint a different picture.

The Export-Import Bank is just one direct connection between the CCC/BNL affair and the Bechtel pipeline negotiations. Another was the connection that came from Rappaport himself – his close associate at Inter Maritime Bank, Alfred Hartmann. Hartmann, mentioned earlier in relation to the loans provided to Marc Rich, also maintained a high-ranking position at BNL. Given that Hartmann tended to appear at banks as a representative of BCCI, this may indicate a relationship between BNL and BCCI. Indeed, in 1991, the New York Times reported that BNL-Atlanta had been receiving massive transfers of money from BCCI and its subsidiary First American Bankshares.219 These transfers, which were happening at the same time as the Iraq loans, appeared to have been made in order to keep the BNL branch afloat.

In the US Congressional hearings that investigated Iraqgate, the relationship between BCCI and BNL’s Italian leadership was further elucidated. According to a written statement provided by the head of BNL’s North American operations, BNL’s former managing director, A. Ferrari – who resigned in 1981 after his membership in the notorious P2 Masonic lodge was revealed – had been close to “Pakistani nationals connected to BCCI.”220 The statement further identified Ferrari as a close friend of Roberto Calvi, the head of Banco Ambrosiano who wound up dead under exceedingly murky circumstances. It also added that Ferrari and the head of BNL’s international division, A. Florio, had worked closely with the corruption-plagued Vatican Bank. Finally, the statement charged that Ferrari and Florio exclusively handled BNL’s “relationship with people like [Ghaith] Pharaon and Marc Rich.”221

BCCI and BNL appeared together again in relation to a strange firm called Allivane International Group, which was described in a UK parliamentary inquiry as a “ghost company.”222 Allivane was, like BNL, a participant in the Bofors-led powder cartel that moved propellant powder, munitions, and weapons parts. At the same time, Allivane was participating in multiple illicit weapons deals with Iraq, and, by 1993, the company’s leadership was wanted for questioning in the US in relation to the BNL-Atlanta loans.223 Leaders included Allivane’s founder, Terry Byrne, who had previously worked at a company called International Signal and Control and, before that, a “New Jersey firm called Rexon Corp.”

Rexon was subsequently placed under investigation for, among other things, providing artillery-fuse parts to Iraq. International Signal and Control, meanwhile, had been founded by James Guerin who was linked, by the UK inquiry, to the Chilean arms dealer Carlos Cardoen, and who between 1984 and 1988 provided minerals used in munitions to Iraq.224 Ari Ben-Menashe, the former Israeli intelligence officer, has charged that Margaret Thatcher’s son Mark Thatcher was also close to Cardoen and had used this connection to broker the sale of armaments to Iraq. At the time, Thatcher was living in Texas, where he had cultivated contacts that included former Senator John Tower.225

While the relationship between Allivane and BNL remains vague, what is certain is that BCCI was working closely with both companies. It reportedly held several different accounts at BCCI during the mid-1980s and, in 1987, BCCI was “prepared to ensure the sale of 50,000 sets of fuses” by Allivane.226 Invoices obtained by British parliamentarians further indicated a business relationship between Allivane and a company called Space Research Corporation, which had been tied in other reports to Allivane’s successor Rexon Corp, to Carlos Cardoen and Mark Thatcher, and to BCCI.227

Space Research Corporation is best remembered for the man behind the company: Gerald Bull, a Canadian-born engineer and artillery expert who, prior to his 1990 assassination in the doorway of his Brussels apartment, had designed weapons systems for the Iraqis and the Chinese. He had also brokered the sale of arms to South Africa. Yet, his most famous effort was Project Babylon.

Commissioned by the Iraqi government, Project Babylon was intended to construct a series of space guns, based on Bull’s earlier designs for launching satellites into orbit. These guns would be used to fire projectiles high into the atmosphere or near-earth orbit in order to reach targets far beyond the range of normal artillery equipment.

The ownership structure of Space Research Corporation was fascinating. In the late 1960s, it was jointly controlled by the Great West Saddlery Company and Arthur D. Little, the Boston corporate consultancy firm and think tank. The CEO of Arthur D. Little at the time was General James Gavin. In 1982, Gavin, along with Clark Clifford’s partner Robert Altman, joined the board of Financial General Bankshares. Great West Saddlery had been a defunct company taken over by Edward and Peter Bronfman – the nephews of Samuel Bronfman – and they transformed it into an investment vehicle.228 The acquisition of companies by way of Great West Saddlery was financed through Edper Investments, a holding company owned by the brothers. Edper, in turn, had been financed through the sale of Seagram’s stock held by Edward and Peter Bronfman.

When the Iraqgate scandal began to break in the early 1990s, attention turned to former Secretary of State Henry Kissinger because, in 1985, he had taken a spot on the international advisory board of BNL. Furthermore, Kissinger’s corporate consultancy firm, Kissinger Associates, counted the Italian bank as a client. Kissinger Associates, which had been set up in the early 1980s with seed money provided by a syndicate of large Wall Street firms led by Goldman Sachs, stacked its partner list with many prominent individuals. Lawrence Eagleburger held a spot at the firm from 1985 through 1989, right between stints as Reagan’s Undersecretary of State for Political Affairs and George H.W.Bush’s Deputy Secretary of State. Eagleburger had a long history with Kissinger, having served as his special assistant way back in the Nixon administration. Another Kissinger assistant from this period was Brent Scowcroft, who also ended up at Kissinger Associates before becoming Bush’s National Security Advisor in 1989.

Both Eagleburger and Scowcroft were linked by government investigators and by the press to BNL, despite their protestations that they had played no role in the Iraq weapons deals. “On three occasions between 1986 and 1989,” Rep. Henry B. Gonzalez of Texas recounted, “Mr. Scowcroft briefed the BNL board on international political and economic developments.”229 Once back in government, Scowcroft pushed for the expansion of the Commodity Credit Corporation’s Iraq program, and enlisted his underlings in the NSC to provide political pressure to ensure this came to pass.

Eagleburger, meanwhile, was identified as having been present at meetings between BNL managers and Kissinger Associates in 1987. Though he denied interactions with BNL, events during the year prior to this meeting suggest that Eagleburger was being less than honest. In 1986, LBS Bank, the US subsidiary of Yugoslavia’s Ljubljanska Banka, was set up in New York City, and Eagleburger joined the board of directors. Roughly 2 percent of LBS’ business was carried out with BNL, and it had even purchased some of the loans that the Italian bank had made to Iraq.230 Two years after it had opened its doors, LBS Bank was implicated in a money-laundering scheme connected to the transfer of high technology to the Eastern Bloc.231

Kissinger also had personal ties to George P. Shultz. As with Eagleburger and Scowcroft, the relationship between the men formed during the Nixon administration. Kissinger attested, “For decades, George and I talked practically every Sunday,” and that if “in a position to choose a president, I would select George Shultz.”232 When Shultz first accepted the position as Reagan’s Secretary of State, Kissinger was the first person he consulted.233 Reportedly, this consultation pertained directly to developing a roadmap for Middle East policy. It seems likely that the question of Iraq was among the subjects discussed.

Besides the personal relationship between Kissinger and Shultz, there was a line running from Kissinger Associates to Bechtel via William E. Simon, a director at the firm who had served as a consultant to the construction giant. He also served on the board of Tamco, a corporate concern of the Gouletas family, who are discussed in relation to Jeffrey Epstein in chapter 11, and was also connected to Covenant House and AmeriCares, discussed in chapter 10. Simon further maintained a position as chairman of an investment vehicle controlled by Suliman Olayan, a Saudi investor who had embarked on major joint ventures with Bechtel.234 Simon, too, had a long history with Kissinger. For instance, he had served as Shultz’s successor as Nixon’s Treasury Secretary, and while there he developed what Kissinger later described as an “affectionate comradeship” with the Secretary of State.235

Each of these facts is certainly suggestive. When put together, a portrait emerges of a network – wrapped inside the Reagan administration but extending beyond it into companies such as Kissinger Associates, Bechtel, and BNL – that was working to not only promote the “tilt” to Iraq but was actively aiding Iraq in its fight against Iran. Particular institutions such as BNL – and BCCI – appear to have worked both sides of the conflict, supplying money and logistical support for the flow of arms to Iran and Iraq alike.

Seen from this perspective, the Bofors-led powder cartel, which was interlinked with the activities of the Enterprise, was just one element in a truly international network of money laundering, backroom deals, and arms trafficking. This tapestry, in turn, was the backdrop for the dark maneuvers of factional infighting that cut across the governments of the countries involved.

To bring these matters full circle, it is worth turning to the matter, left unresolved in the official inquiry, of the ties of Kissinger Associates to BCCI. In 1986, a consultant with Kissinger’s firm, Sergio de Costa, was recruited by BCCI to aid in the takeover of a bank in Brazil.236 Before the ink had dried on the paperwork, de Costa began to lobby Kissinger Associates to take BCCI on as a client. He found an ally at Kissinger Associates in Alan Stoga, a former chief economist at the First National Bank of Chicago – an institution historically linked to Rockefeller interests. Stoga – who had reportedly attended the 1987 meeting with BNL where Lawrence Eagleburger was also present – later communicated extensively with BCCI principals and even, on a handful of occasions, met with them in person.

When the BCCI inquiry was underway, Kissinger Associates painted a picture in which Stoga had pushed for the firm to take on BCCI on as a client, while Kissinger had been more reticent. This narrative was shaped by the files and communiqués that the firm had turned over to investigators, indicating that Stoga’s talks with BCCI terminated in December 1988. Yet, the files turned over by BCCI itself complicated this picture: they showed that Stoga was still meeting with BCCI representatives a month later, in January 1989. Kissinger Associates stated that Stoga reiterated at this meeting that the talks could not continue, but BCCI’s files stated that, at the meeting, it “was established that it is in our interest for both parties to continue with conversations. As such, the door for an eventual relationship remains open.”237

With BCCI’s compounding notoriety and eventual collapse, a working relationship between the bank and Kissinger Associates was never cemented. Kissinger Associates did, however, make an “unofficial” recommendation for BCCI by referring them to the New York law firm of Arnold & Porter.238 One of the partners at Arnold & Porter, named directly on the referral to BCCI, was William D. Rogers, who had served beneath Kissinger in 1976 as the Undersecretary of State for Economic Affairs. Rogers had subsequently helped Kissinger set up Kissinger Associates and was serving on the board at the time that the Arnold & Porter recommendation was being made.

RIVALRIES

uried deep within the pages of testimony, declassified documentation entered into evidence, and summaries that make up the bulk of the published Iran- Contra proceedings, there are faint traces and hints of an internecine bureaucratic feud that trickled down into Contra-support operations. Scattered throughout this documentation, one finds references to an entity called “the Supermarket,” based out of Honduras. A leading military official stationed in Latin America, General John R. Galvin, described the Supermarket as a place where “a lot of weapons … from somewhere overseas” were stored.239 An unnamed CIA officer who was called to testify, meanwhile, called the Supermarket a “private organization” that was operating in league with “international arms dealers.”240

The independent counsel’s final report (also known as the Walsh report) identifies the figures behind the Supermarket as Ron Martin and Colonel James McCoy, the latter having recruited the former sometime in late 1984. McCoy was a “former US military attaché to Nicaragua,” while Martin was “a Miami-based arms dealer who had been the focus of investigation by the Bureau of Alcohol, Firearms and Tobacco for many years.”241 The report adds that Martin had “at one time been charged with providing arms illegally to narcotics traffickers.”242

The Supermarket actually predated the Secord-led Contra airlift that had been set up at North’s behest. This is clearly illustrated in the Walsh report and is alluded to by Howard Kohn and Vicki Monks in their reporting on Iran-Contra that appeared in Rolling Stone. Kohn and Monks write that, while Operation Black Eagle was breaking down and the Enterprise was being assembled, William Casey “turned to a third weapons smuggling operation.”243 Martin and McCoy were not part of Casey’s network of operatives; they were instead “entrepreneurs who had learned about the Contra slush fund and hoped to profit from it.”244

As the Enterprise swung into motion, a significant rivalry developed between the two groups. North’s personal notebooks illustrate that the Supermarket became a growing concern for the Enterprise during 1985. That spring, North wrote down information about Martin and McCoy’s operation that Secord had gleaned from Rafael Quintero, the CIA-trained Cuban exile who had become involved with the Shackley network in the 1970s. Among the information listed was that Martin was wanted in Guatemala for “criminal activity” and that Defex – the Portuguese arms dealing outfit that Secord was close to – would not do business with them.

North also noted that there was “possible Martin interference w/Puerto Cortez [sic] delivery.” This was a reference to an Enterprise-organized weapons shipment from Portugal destined for Puerto Cortés in Honduras, which Martin had learned about through his own network of sources. He dispatched the Supermarket’s chief agent, the Cuban American Mario Delamico, who posed as one of Secord’s employees in order to obtain a cargo manifest from the ship, the Erria, when it docked. Martin later stated that he “used the manifest and other documents that Dellamico [sic] took from the Erria to convince [Mario] Calero that Secord was ‘ripping off ’ the Contras.’”245

Other notes made by North show that he was interested in where the money for the Supermarket had come from in the first place. On July 12, 1985, he wrote that he had received information that the “[Honduran] Army plans to seize all [weapons] when supermarket comes to a bad end,” and that “$14 [million] to finance [the Supermarket] came from drugs.”246 Despite the relationship between North’s operations and drug traffickers, he used this link of the Supermarket’s financing to drugs – with Noriega allegedly being the connection here – to warn others to avoid them. North later stated that he was being guided in these decisions by William Casey himself.

Evidence of Martin’s wider involvement with the Latin America drug trade comes through his choice to employ Theodore Klein, a Miami criminal-defense lawyer, as his attorney. Klein had previously represented Jack DeVoe, a pilot and owner of a charter airline service that operated as a front for a Colombian-led cocaine-smuggling operation. DeVoe had entered the world of drug smuggling in 1970 and, by the 1980s, he was in league with a powerful drug smuggler named Pepe Cabrera, a partner of Carlos Lehder.247 When it came to laundering the proceeds of this smuggling operation, DeVoe looked to Jack Freeman – a veteran of Paul Helliwell’s law firm and, for a time, the in-house counsel for Castle Bank & Trust.248

According to Theodore Klein, Felix Rodriguez – a longtime actor in CIA shadow operations who was then connected to the Enterprise – had some sort of “business relationship” with the Supermarket.249 This particular connection may help determine who might have been the actual benefactors of the Supermarket. By 1986, significant tensions had built up between Rodriguez and North, but the Walsh report shows extensive contact between Rodriguez and Donald Gregg, the former CIA official who had become Vice President Bush’s National Security Advisor.

Rodriguez had first been introduced to North through William R. Bode, a State Department official who might have also been an asset for the CIA.250 That same day, Rodriguez met with Gregg to discuss “his [Rodriguez’s] interest in going to El Salvador.” Gregg promised to make introductions between Rodriguez and key people and reported the meeting to Vice President Bush as soon as it concluded. Less than a month later, Gregg arranged for a meeting between Rodriguez and Bush to discuss counterinsurgency operations in El Salvador.251

When Rodriguez was running the Enterprise’s Contra resupply operations from El Salvador, working under him as the day-to-day operations manager was CIA-trained Cuban exile Luis Posada Carriles. Posada was a real piece of work – during the 1970s, he had been one of the founding members of the Cuban exile terrorist group CORU, but he had maintained a close connection with US organized crime figures like Lefty Rosenthal before CORU existed. In the decade prior to his recruitment as a cog in the Enterprise’s machinery, he had been identified as “big time trafficker” of Colombian cocaine into Miami.252

Records indicate that North was kept abreast of Rodriguez’s repeated meetings with Gregg, but it is doubtful that he knew everything that was being discussed between the two. The Walsh report indicates that Rodriguez used those opportunities to express his misgivings about North and the Enterprise, at one point telling Gregg that North was “involved in the Edwin Wilson group.”253

Whether or not this referred to something earlier in North’s career, or simply to the presence of old Shackley network operators like Secord and Clines in the Enterprise, is not clear. However, the role being played by Clines in the Enterprise troubled Rodriguez to no end. The two had been friends going back to the Bay of Pigs, but they had split up over the covert involvement with Libya. Gregg wrote notes about this split that were later entered into evidence during the Iran-Contra hearings. He also noted that “Tom Clines = snake! (would sell his mother).”254

In Joseph Trento’s Prelude to Terror – largely based on interviews he carried out with Edwin Wilson, Thomas Clines, and others from that nexus – he recounts that it had been Clines who had first introduced and brought Wilson and Rodriguez together in 1973. Wilson, in turn, put Rodriguez in touch with the infamous arms dealer Sarkis Soghanalian, who at the time was looking for somebody to train the Falangists in Lebanon. According to Soghanalian, Wilson told him to take Rodriguez to Lebanon and “don’t bring him back … get rid of him.”255

As the tension built between North and Rodriguez, Rodriguez appeared to have been leveraging his contact with Bush via Donald Gregg. The Walsh report states that, in early 1986, Rodriguez was causing “continual problems” by boasting of his “very close relationship with the Vice President and a number of his people.”256 On January 9, North wrote in his notebook “Felix talking too much about VP connection.” Several months later, notes made by North’s assistant Robert Earl added a few more pieces to the puzzle. During a meeting between NSC staffers and representatives (including Gregg) of the Office of the Vice President, Earl wrote the following: “Felix needs to be eased out w/honor,” “Felix claims working w/VP blessing for CIA,” “Mario Delameco [sic], Miami = Felix contact,” and “Calero–Martin link = a problem too.”257

The relationship between Rodriguez and the Supermarket on one side, and between Rodriguez and Bush on the other, raises an important question: was Vice President Bush the ultimate backer of Martin and McCoy’s operation? If so, it would likely reflect the ongoing power struggle, first addressed in the last chapter, between Casey and Bush. Casey, after all, was the ultimate backer of the Enterprise, having effectively outsourced CIA activities to North and the remnants of the Shackley network.

There is also other evidence that links Bush to the Supermarket. Howard Kohn and Vicki Monks, for example, noted that the Supermarket was popular among influential Contra supporters in Miami, precisely where Jeb Bush was doing private fundraising for the Contras and, according to a Customs report, was involved in gunrunning on behalf of the fighters.258 Intriguingly, Newsweek reported in 1988 that it had obtained an NSC report stating that “disclosure of ‘covert black money’ flowing into Honduras to fund military projects ‘could damage’ Vice President Bush.”259

There are also questions of potential connections to Robert Corson, the Houston land developer and rumored CIA asset who was the son-in-law of Bush’s friend (and potential intelligence cut-out) Walter Mischer. Corson, as discussed in the last chapter, was identified by controversial whistleblower Richard Brenneke as his partner in money-laundering activities. Importantly, Brenneke further stated that Corson and the Supermarket’s Ron Martin were business partners and had even jointly owned a casino in the Canary Islands for several years in the early 1980s.260 Also suggestive is a complex real estate deal in Florida that involved a thrift, controlled by Corson, called VisionBanc. VisionBanc and several other S&Ls lent money to Mike Adkinson, a reputed arms dealer, to buy up property in the Florida panhandle from St. Joe Paper Company, then controlled by DuPont interests.261

When the deal was settled, the money from VisionBanc, never to be paid back, was swiftly tucked away in the Isle of Jersey branch of Bank Cantrade. This was the same bank where Jack Freeman was hiding the proceeds from Jack DeVoe’s drug smuggling – and, as mentioned earlier, DeVoe used the same attorney, Theodore Klein, as Ron Martin. It was also the same bank from which GeoMiliTech had drawn its offshore finance managers.

A much more direct linkage comes in the figure of S. Cass Weiland, a Houston lawyer who was retained by Corson. Weiland appears extensively in North’s notebooks, mostly in conjunction with figures circulating around the Supermarket. In 1984, North was following a project in Belize that involved both Weiland, then serving as counsel to the Senate Permanent Subcommittee on Investigations, and a Cuban exile named Sergio Brull.262 Brull appeared later in the notebooks as a key contact for Martin and for John Molina, a Cuban American businessman who was shot to death in Panama in October 1987.

Molina, in the 1970s, was the president of UniBank, the Panamanian subsidiary of the WFC Corporation – the CIA-linked drug smuggling operation and money laundromat – that was co-owned by the First National Bank of Louisville.263 After WFC went bust, Molina continued to operate in the underworld and eventually became the chief banker for the Supermarket.

If Robert Corson, as Pete Brewton argues, was part of an intelligence apparatus that was tied up with George H.W.Bush, then Corson’s connections to banks and to individuals linked to the Supermarket becomes indicative of a pattern. Tellingly, Belize, the country where Weiland and Martin’s associate Brull was active, was a primary node for the drug-smuggling ring in which DeVoe was involved. According to a UPI report, “cocaine was flown to Belize and islands in the Caribbean, then to processing points in the United States.… The pure cocaine was then brought to Miami where it was diluted and eventually distributed for street sales throughout the United States.”264

Brull was mentioned in a 1986 FBI interview given by Richard Secord that concerned an investigation that had been launched into the activities of Jack Terrell. Terrell, using the name “Colonel Flaco,” had worked with the Contras through his position in Civilian Materiel Assistance, the militia outfit used to train and assist the fighters that was connected to Singlaub, among others.265 He subsequently became a whistleblower, turning over information to Florida authorities linking Oliver North, Robert Owen, and John Hull to gun running and drug smuggling. This was prior to revelations about the Enterprise that followed the doomed flight of Eugene Hasenfus in October 1986.

Terrell also provided information to the media. In June 1986, he appeared on a television show called West 57th, where he made allegations that the Contrasupport flights were also being used to move drugs into the US. Several days later, North met with assistant FBI director Oliver “Buck” Revell to discuss identifying Terrell as a terrorist suspect – one with potential ties to Nicaraguan intelligence, to boot! This was a clever move on the part of North. In 1984, North organized a special group within the NSC called the Terrorist Incident Working Group (TIWG), which in turn spawned a secretive subunit called the Operations Sub- Group (OSG). This apparatus, dedicated to counterterrorism activities, was made up of North’s allies across various agencies – including Buck Revell.

By designating Terrell a terrorism suspect, the FBI’s counterterrorism operation was plugged directly into the NSC through Revell, allowing North to have a direct means of monitoring the whistleblower. On July 17, 1986, North sent a memo to Admiral Poindexter stating that, concerning Terrell, the “FBI has notified the Secret Service and is preparing a counterintelligence/counterterrorism operation plan for review by OSG-TIWG tomorrow.”266

The FBI interviewed Secord just under a week later, on July 23, 1986. He told the agents that Terrell’s allegations were part of a “concerted effort” by an interconnected group of individuals. Operating in “collusion” with Terrell, Secord continued, was “Sergio Brulle [sic], a Cuban-American with a commercial business, a (FNU) [first name unknown] Gomez, whom he described as a bad Cuban involved with drug running.”267 Secord, in other words, was linking Terrell to the Supermarket, since Brull was tied to Martin. Gomez might have been none other than Felix Rodriguez, who frequently went under the alias “Max Gomez.”

This statement raises more questions than it answers. By tying Terrell to the Supermarket, was Secord trying to place Martin and McCoy’s outfit under FBI counterterrorism surveillance? Or was there truth to this statement? If it was the latter, then it would seem that the Supermarket could have been trying to expose the Enterprise in the press and to US law enforcement. This would directly parallel the claims later made by Seymour Hersh: that a secret intelligence apparatus, run from the Office of the Vice President, had leaked information to the press concerning the missile sales to Iran.

Information and insider knowledge, it seems, was the weapon of choice in the shadow wars fought behind and beneath the bloody covert operations of the Reagan era.

_______________

Endnotes:
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Re: One Nation Under Blackmail, by Whitney Webb

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Part 1 of 2

CHAPTER 8. CLINTON CONTRA
SEAL, THE SMUGGLER


On October 5th, 1986, the Enterprise took a mortal blow. At 9:50 AM, a C- 123K military transport aircraft took off from the Ilopango military base, carrying a stockpile of rifles, ammunition, and explosives in its hull. These were to be air-dropped into the Nicaraguan jungle for the Contras – but the plane never made it to its destination. It was instead shot down by Sandinista forces, killing three of the four man crew. The sole survivor, Eugene Hasenfus of Wisconsin, was subsequently captured. Under interrogation, he began to detail what he knew of the wide-ranging plot to arm the Contra rebels.

The first official communication surrounding the plane came through Felix Rodriguez, who alerted Samuel Watson, an aide to Vice President Bush, that an aircraft had gone missing. A day later, on October 6th, Rodriguez contacted Watson again with an update. Soon, Oliver North was bound for El Salvador. Meanwhile, cover stories were being drafted in a desperate attempt to provide an alternative explanation of events. Despite their efforts, North and the Enterprise were out of luck and, within days, congressmen were calling for inquiries into the crash, the FBI began nosing around Southern Air Transport’s Miami offices, and the press started to run stories about different aspects of their clandestine activities. It was all unraveling at a fast pace.

As with most things related to the Enterprise, mystery begat more mystery. Hasenfus, for example, had been hired to serve as a crewman on the doomed C- 123K by a company called Corporate Air Service, which was registered in Pennsylvania but had offices in Miami. Corporate Air was “revealed to be a phantom company,” and its Miami location was actually Southern Air Transport’s headquarters at the Miami Airport.1

The history of the C-123K was itself a tangled web. In 1983, it had been purchased from the US Air Force by Harry Doan, the proprietor of a Florida aviation company called Doan Helicopters. It had been picked up by the Enterprise in March 1986, via a front company called Udall Research Corporation. Udall, registered in Panama, was also involved in the construction of the airstrip in the Santa Elena region of Costa Rica. Papers recovered from North’s safe described Udall as an “operating company.”2

Udall was not alone in acquiring this C-123K from Doan. It had previously fallen into the hands of one Adler Barriman “Barry” Seal, the commercial pilotturned- drug smuggler and CIA asset. Seal had picked up the plane, used it for drug smuggling flights, and then returned it to Doan Helicopters in July 1985. Seal, importantly, was connected to the same criminal figures that had been woven into the covert Contra support network. Beginning in 1981, Seal had begun to ferry cocaine on behalf of Jorge Ochoa, one of the Medellin cartel’s founding members. In a few years, Seal’s Medellin smuggling had expanded considerably. With police attention mounting in his home state of Louisiana, Seal set up a new base of operations in rural Arkansas.

The location that Seal selected was the Intermountain Municipal Airport in Mena, Arkansas, near the Arkansas-Oklahoma border. Mena was a small, unassuming town; yet, throughout the 1980s, the area encircling the airport became a hotbed of intrigue. In 1989, journalist John Cummings, in one of the first articles written on Seal in Mena, wrote that “Seal had virtually taken over a local aircraft repair-and-modification operation at the airport, and the good citizens of Mena began to notice some strange goings on: landings at night, tight security around Seal’s planes, a hangar converted into a virtual fortress.”3 There were also sightings of what appeared to be airdrops, the construction of airstrips deep in the woods beyond the airport, and even darker rumors that whatever was happening was sanctioned by the CIA.

The report of the Kerry Commission on narcotics later stated that “[a]ssociates of Seal … were … targets of grand jury probes into narcotics trafficking.” Yet, these cases were dropped despite the “strong protests of State and federal law enforcement officials..… The apparent reason,” the report continues, “was that the prosecution might have revealed national security information.”4

Jack Anderson wrote in the Washington Post that, after Seal died in 1986, IRS investigators descended upon Mena and seized records and other documents from the smuggler’s offices there. The IRS was keeping its report “under wraps,” but Anderson relayed its name: “Contra Mena Connection.”5 The absence of a public release of this report allowed a comprehensive firewall to be set in place, permitting investigators to quietly detail the story of Seal and that of Iran-Contra.

That the plane shot down in Nicaragua had been used by Seal was written off as mere coincidence, with the intermediary figure, Harry Doan, acting as a convenient buffer. Unfortunately for the proponents of this narrative, the specter of Seal appears throughout the official documentation of the Iran-Contra case.

A May 1983 US Customs report noted that an aircraft piloted by Frank Moss and owned by his Hondu Carib aviation company was involved in drug smuggling linked to Barry Seal. As previously mentioned, Moss and his aviation companies were entangled, not only with the Enterprise’s Contra support efforts, but with repeat allegations of drug trafficking. Those allegations rang true in the case of this plane, tail number N90201, which made at least one airdrop of “large quantities of marijuana and cocaine at an isolated farm near Baton Rouge, Louisiana. The farm’s address Rt. 6, Box 282E in East Baton Rouge, Louisiana, belong[ed] to Adler [Barry] Seal…”6 Given Moss’ ties to Matta’s drug trafficking operations, it seems likely that Seal himself was part of these wider smuggling networks. It would also align Seal with the Cali cartel in addition to his earlier Medellin ties, which paints a complicated picture of the unstable alliances and power competitions that raged beneath the surface of this covert world.

Journalist Daniel Hopsicker, in his biography of Barry Seal, writes that he obtained documents from the trafficker’s widow which show that, in the 1980s, Seal was doing business with Summit Aviation. As mentioned in the previous chapter, Summit was controlled by the DuPont family, and was managed by Patrick Foley, a veteran of the CIA and Flying Tiger Line. It was Summit that had provided a small aircraft that was utilized for a bombing run in Nicaragua, while it was Foley who had recommended a drug-smuggling pilot to the State Department for the transportation of “humanitarian supplies” to the Contras. Foley, Hopsicker writes, was a “Seal associate whose name and number are in Barry’s files.”7

Summit was involved in the acquisition and trade of Beechcraft King Air, turboprop planes known for their flexibility and versatility. Seal, likewise, maintained his own King Air plane, and one, sporting the tail number N6308F, had a particularly interesting provenance. It was owned by Greycas Inc., a Phoenix, Arizona-based subsidiary of Greyhound Lines, the bus company. Greycas leased the plane to a company called Systems Marketing Inc., reportedly a subsidiary of another firm named Military Electronics.8 Systems Marketing provided the plane to Gene Glick, a real estate developer who, in turn, leased it to Seal.

According to Hopsicker, Glick “leased not just this but several other of Barry Seal’s planes and helicopters as well, during the time Seal was most active in drug and weapons smuggling. Other documents we uncovered revealed that Glick was also actively helping Seal purchase ocean-going vessels… ”9

Hopsicker reproduced an FAA form showing the leasing of the aircraft from Greycas to Systems Marketing. The form identified Systems Marketing’s vice president as a Leonard F. Lavoie. Press reports at the time suggested that Lavoie, at this time, was also affiliated with an aviation company called Skyways Travel & Tours, while his early career had revolved around Arizona real estate. During the 1970s, Lavoie had been the treasurer for the Halwin Corporation, which had been founded by a man named Allen Winter.10 Winter, notably, was a “known racketeer” who, prior to relocating to Arizona, had operated out of the Seattle area and had been particularly close to Dave Beck – Jimmy Hoffa’s mob-linked predecessor as president of the Teamsters union.11

Both Winter and Lavoie had previously worked for the major Phoenix, Arizona, construction firm Del E. Webb Development Company.12 Del Webb had developed major projects like Sun City, the famous retirement community; yet, what the builder and his company were best known for was their role in building and owning a number of Las Vegas casinos. Unsurprisingly, this brought him into close contact with organized crime interests, and to Bugsy Siegel and Meyer Lansky in particular – as well as to J. Edgar Hoover. According to Anthony Summers, Hoover – who rubbed shoulders with Webb at places like the Hotel Del Charro, a favorite haunt of mob-linked Texas oil bigwigs like Clint Murchison – appears to have protected the builder. “Hoover,” said Justice Department attorney William Hundley, “gave Webb a pass. He was his buddy.”13

Hundley added that “No bugs went in on Webb’s places.”14

It’s unsurprising, then, that Webb himself came to own a number of casinos – including the Sahara, which he had acquired with loans from major Wall Street entities like Lehman Brothers and Morgan Guaranty.15 He also ended up with the Thunderbird Hotel and the Flamingo, which means that the money of Del E. Webb Development Company had also freely mingled with that of the Moody family’s American National Insurance Company (ANICO).

That Lavoie appears in the chain of custody that delivered a plane from Greycas into the hands of Barry Seal illustrates, once again, the integration of organized crime networks into those of the intelligence community. It also makes one wonder if Gene Glick, the builder who acquired the plane from Systems Marketing before leasing it to Seal, was himself tied into Del Webb’s network.

Greycas itself was involved in large-scale financial crimes that also seemed nebulously linked to individuals in Seal’s orbit: it was bilked for truly massive sums of money by a prolific confidence man by the name of Sheldon Player. Hopsicker writes that: “Player would sell Greycas heavy machine tools, lease them back, and then pretend to sublease the expensive devices to end-users.”16 Sheldon would pocket the money – or perhaps move it on behalf of other parties – by siphoning it away into offshore bank accounts. According to Arthur Johnson, in his book Breaking the Banks, Player’s preferred offshore banker was Gordon Aiton of Bank Intercontinental Ltd.17 The true owners of Bank Intercontinental, located in the Cayman Islands, are unfortunately unknown, though Aiton himself was the Cayman’s former inspector general of banks.18

A second company controlled by Aiton, Investment Consultants Limited, was also involved in Sheldon Player’s activities. Intriguingly, Hopsicker reproduced a document from this very company, showing that Aiton was in communication with Barry Seal.19 The document in question concerned payments and insurance for Seal’s Lear Jet.

About a year after Moss’ airdrops at Seal’s farm, Seal had become a deeply involved in a curious DEA sting operation. What made this sting so odd was that its goal was propagandistic in nature: it was intended to produce concrete evidence of collusion between the Sandinistas and the Medellin cartel. In June 1984, Seal flew – allegedly – into Nicaragua, where he picked up a load of cocaine. The pickup was covertly filmed and photographed, but the ongoing DEA operation quickly derailed.20 General Paul F. Gorman of the US Military Southern Command, publicly announced that evidenced had been found linking the Sandinistas to drug traffic. However, corroboration that Seal indeed met with Sandinistas has never been produced. While Seal wasn’t named by Gorman, he was fingered in an exposé on the story published by the Washington Times.

This whole series of events raises a number of questions. The Southern Military Command had been linked to arms flows to the Contras, while the Washington Times was owned by the Unification Church – the China Lobby-aligned sect that, at the time, was involved in private fundraising for the rebels. As Peter Dale Scott and Jonathan Marshall note in their book Cocaine Politics, Seal and the photos from this odd DEA operation were featured prominently in North’s notebooks and personal diaries at the time, and North had gone out of his way to acquire copies. One note recorded by North, based on a report from the CIA’s Duane Clarridge, stated that “DEA thinks CIA linked info to Gorman.”21 Did the Enterprise, or the CIA, or some other party, intentionally disrupt the DEA operation?

Barry Seal’s life was ultimately cut short by a hail of gunfire in Baton Rouge on February 19th, 1986. The official story is that the smuggler had been taken out by hitmen dispatched by the Medellin cartel, who had placed a bounty on Seal when it became known that he was involved with the DEA. It’s possible, however, that there were other actors in play.

As Daniel Hopsicker reported, rumors have abounded that the source of the hit was really the CIA, or Oliver North, or even George H.W. Bush. It was alleged, for instance, that Seal had considerable evidence of the Vice President’s sons, George W. and Jeb Bush, receiving a large amount of cocaine.22 Bob Thommasson, a Louisiana State Police officer, told Hopsicker that the FBI had taken charge of the crime scene and removed boxes from the trunk of Seal’s car – boxes that contained “very very compelling documents and tapes.”23

There is also the question of the weapon used in the hit. It had been sourced from Jose Coutin, the owner of a gun store and fashion boutique in Miami.24 Coutin had been one of many CIA-trained Cuban exiles, having served in Brigade 2506, though it is unknown if he participated in Bay of Pigs. In the 1980s, he was deeply involved in Contra support activities – and had been flipped into acting as an FBI informant. Through the information that he provided to the Bureau, we know that he was acquainted with a number of key players. These included the principals of Frigorificos, the Colombian cartel front company contracted by the State Department; the CIA and cartel-linked rancher in Costa Rica, John Hull; Tom Posey of Civilian Materiel Assistance, the militia-special forces group tied to the Enterprise and to John K. Singlaub; and Jack Terrell, the early Iran-Contra whistleblower.25

Barry Seal’s untimely death didn’t put an end to the goings-on in Mena, however. Russell Welch, a state police investigator who had been monitoring Seal, noted that in 1987 there was a spate of “new activity at the [Mena] airport with the appearance of … an Australian business … and C-130s had appeared.”26

There were in fact two Australian companies, Southern Cross Aviation Inc. and Multi-Trade, that had set up shop in Mena in the immediate post-Seal years.27 Southern Cross was an aircraft ferrying company with an apparent specialty in moving C-130s, while Multi-Trade was an aircraft interiors business. The two shared several common principals, who in turn took an active interest in the aircraft being stored at Mena. One of Multi-Trade’s executives, a former Australian air force pilot named Glen Conrad, held a stake in one C-130 that he subsequently sold to a company in Florida called African Air Trans Inc. Florida business records show that African Air was owned by Henry A. Warton, a fairly well-known pilot and smuggler with known ties to the CIA. African Air Trans Inc. is mentioned again in the next chapter as the C-130 it bought was tied to another CIA-linked company, E-Systems.

In December 1988, the C-130 took off from Mena, destined for somewhere in Africa. It was seized by US Customs in Florida. Press reports from 1991 state that the plane had been “accused of violating regulations on trafficking arms,” and that Warton’s company was actually a dummy front set up to obscure the real owner. The plane had actually been acquired, the article continues, by “an unnamed Israeli living in Panama who set up a fake American corporation and mortgage on the aircraft to ‘cover his ass.’'28

Several years later, in the summer of 1991, another C-130 linked to Mena met an odd fate. It crashed on a runaway in Luanda, the capital city of Angola, killing all onboard – including Chuck Hendricks, a 34 year old aircraft mechanic from Arkansas.29 Hendricks’ parents, who lived in Mena, set out to learn what happened to their son, only to be confronted with a web of mysteries. The C-130 had been owned by a Delaware company called CZX Productions, and the crew had been hired by a German firm called Unitrann International. Both of these companies, in turn, were controlled by a shadowy German aviation specialist named Dietrich Reinhardt.

Reinhardt’s name will be instantly recognizable to those familiar with the Iran- Contra affair. One of the companies he controlled, St. Lucia Airways, had been utilized by the Enterprise to ferry weapons to the Middle East. According to Albert Hakim, St. Lucia was a CIA proprietary firm.30 If Reinhardt was involved with aircraft from Mena as late as 1991, it seems that whatever was taking place in Arkansas was an ongoing operation.

DOWN IN ARKANSAS

Hot Springs, Arkansas, was, to quote Roger Morris, the “Geneva of organized crime in the 1920s and 30s. It’s where the barons, the gangster bosses came to meet.”31 That association certainly continued through the decades. Influence over the city, considered a neutral territory for the different, often-competing criminal gangs, families and outfits, was held by Owney Madden, a New York gangster whose distinctive nickname was “The Killer.” Madden was reportedly something of an ambassador for Meyer Lansky and counted among his close associates Frank Costello, who popped up in Hot Springs from time to time. New Orleans crime boss Carlos Marcello was reported to have held significant influence over Hot Springs as well.

There is some evidence, albeit circumstantial, that a young Bill Clinton might have had contact with these forces while he growing up in Arkansas. The man that Clinton had often referred to as “the most commanding male presence in his life” and a “father figure” was his uncle, Raymond Clinton.32 Outwardly, Uncle Raymond ran a profitable car dealership, but he was also known to have engaged in various vices and backroom wheeling and dealing. According to a former Arkansas FBI agent, Raymond “ran some slot machines that he had scattered about town,” while close business associates have admitted that the car dealer had “considerable dealings in the underworld.”33

Along the way, Raymond began to collect political power. He cultivated ties to the state’s Democratic Party, but also political figures in surrounding states, like Alabama’s George Wallace.

These ties paid off in a big way for Bill Clinton in 1968. It was a big year for Bill: he had just won a Rhodes Scholarship to Oxford University in the United Kingdom, and he was on the verge of being drafted. Being shipped off to war in Vietnam would have derailed Oxford entirely – and so Uncle Raymond leapt into action. Using his political connections, he was able to secure for Bill a draft deferral.34

Uncle Raymond tended to crop up at opportune moments such as these, where Clinton’s political destiny seemed to hang in the balance. In 1974, when Bill embarked on his first political campaign for Arkansas’ House of Representatives, Raymond arranged for a $10,000 loan for his nephew from the First National Bank of Hot Springs. While Bill would lose the race, two years later he secured a position as Arkansas’ Attorney General. This was the springboard for his next venture, the 1978 campaign for governor. This campaign was a success, thanks in no small part to loans and donations from Arkansas’ economic elite. Here, once again, one could find the name of Raymond Clinton.

In addition to the assistance provided by Uncle Raymond and his friends, Clinton may have had other benefactors who helped shape his early political education, if not his career itself. There are hints, rumors, and intimations of a relationship with the CIA during the 1970s, particularly during his year at Oxford, which had been secured with the aid of Raymond. A former CIA officer told Roger Morris and Sally Denton that he had seen Clinton’s name on a list of informants used by the Agency’s Operation CHAOS – the surveillance program aimed at the anti-war and civil rights movements. Another officer stated that “part of Clinton’s arrangement as an informer had been further insurance against the draft.”35 Reportedly, Clinton was regularly debriefed by the CIA, who he supplied with information concerning activist groups on British campuses.

The underworld figures like Barry Seal who haunted Mena seemed to always operate with much less than six degrees of separation from Clinton during his time as the state’s governor. In his 1999 confessional expose, Cross-fire: Witness in the Clinton Investigation, former Arkansas policeman turned personal driver and security guard for Bill Clinton, L.D. Brown, recounts how Clinton encouraged him to seek out a post at the CIA.36 Clinton allegedly went so far as to edit the essay Brown wrote for this employment application. The essay topic was drug smuggling in Central America. Upon receiving his application, the CIA put Brown in touch with none other than Seal.

Seal was far from being the only affiliate of Oliver North running a Contraconnected operation in Arkansas. Terry Reed, who had worked for North since 1983, claimed to have been put in touch with Seal by North and established a base just 10 miles north of Mena – in Nella, Arkansas – where “Nicaraguan Contras and other recruits from Latin American were trained in resupply missions, night landings, precision paradrops and similar maneuvers,” according to Alexander Cockburn and Jeffrey St. Clair.37

Reed charges that another figure in this circle (with particularly close ties to Seal) was Dan Lasater.38 Lasater was the ultimate Little Rock operator. During the day, he was renowned for his lucrative bond brokerage business, Lasater and Company; while, after nightfall, he had a reputation as a party animal. Lasater was plugged into the world of Arkansas cocaine, something he shared with his close friend, Roger Clinton. Roger was, of course, the brother of then-Governor Bill Clinton. It was revealed during the course of the Whitewater investigations that Roger Clinton had even spent several years working for Lasater.39

Just like his close friends, scandal seemed to follow Lasater. In 1977, his private jet turned up in Las Vegas with Jimmy Chagra, a prominent drug trafficker, onboard. (Two years later, Chagra contracted hitman Charles Harrelson to assassinate Federal Judge John H. Wood Jr. in San Antonio, Texas.)40

Several years later, in 1984, Lasater purchased a ski resort in a remote northern corner of New Mexico. According to journalists Denton and Morris, Lasater “was given free rein to use Bill Clinton’s name commercially to help promote the isolated development.” They continue:

Undercover law enforcement agents later found the resort a center for drug running, what US customs called a “large controlled-substance smuggling operation and large-scale moneylaundering activity.” While Lasater held “Arkansas Week” at the resort with Governor Clinton’s endorsement and entertained politicians from Santa Fe as well as Little Rock, local New Mexico sheriffs were hearing reports from Angel Fire reminiscent of Mena – strange nighttime traffic, sightings of parachute drops, even hikers’ accounts of a “big black military-type cargo plane” seeming to come out of nowhere and swooping low and almost silently over a deserted mountain meadow near the remote ski area.41


Rumors of drug trafficking, money laundering, powerful military connections and the shadowy presence of military activity grew throughout the latter half of the 1980s and into the early 1990s. A tantalizing early reference to an “Arkansas project” connected to the Iran-Contra affair can be found in a legal declaration drafted by Daniel Sheehan in connection with the lawsuit he brought against the Enterprise on behalf of journalists Tony Avirgan and Martha Honey.42

This “project” was reportedly a scheme to set up a training facility for anti- Communist insurgents – in this case, Laotian tribesmen. A key witness in Sheehan’s lawsuit, Gene Wheaton, identified some of the backers of this project as Rick Wade, a private citizen from Alaska; William Bode, a State Department employee whose name appeared in Oliver North’s personal notebooks; and Vaughn Forrester, an assistant to the pro-Contra Congressman William McCollum; and CIA officer Carl Jenkins. “Some managers of the Daisy Air Rifle Company,” writes Sheehan, “provided property in western Arkansas for the training camp.”43

That there was interest in training Laotian tribesmen for anti-communist purposes isn’t as strange as it might sound. In the early 1980s, prior to the spin-up of the Enterprise, the National Security Council ran an off-the-books operation aimed at supporting Laotian anti-communists that was financed via private donations to a slew of POW-MIA groups.44 Many of the donors – including Nelson Bunker Hunt and Ellen Garwood – would subsequently emerge as major private donors to the Enterprise. And much like the case of private donations to the Contras, money for the Laotian operation moved through familiar banks. One of these was none other than Seoul branch of BCCI. This money, as reported in a memo by Senate investigator John Mattes, “was used to arm Laotian resistance groups in a covert network ‘run by members of the NSC.’'45

Rick Wade, the private citizen named by Wheaton, had been active in the POW/MIA movement, and was likely connected to the NSC’s operations. During the 1980s, he had developed contacts with aides to Vang Pao, the Hmong opium warlord that had been so close to Ted Shackley and his team a decade prior. He became a lobbyist for the Hmong in Washington and elsewhere, and would meet with figures like Ellen Garwood and Robert Owen in order to garner materiel support for the tribesmen.46

Gene Wheaton himself is an intriguing figure. A former Army criminal investigator and intelligence agent, Wheaton was on the periphery of the internal core of the Enterprise, and was thus privy to many covert operations unfolding during the 1980s.47 His name appears within North’s notebooks alongside those of Carl Jenkins, the CIA officer who had served under Shackley at JM/WAVE and in Laos.

Wheaton and Jenkins were close friends and business associates – they were both attached, at one point in the mid-1980s, to an air freight company called National Air Cargo – and it was through Jenkins that Wheaton found himself enmeshed in the world of the Enterprise. Jenkins, as mentioned in chapter 6, was connected with Charles Haynes and Vaughn “Bobby” Ross via a web of companies likely linked to covert operations. Ross, in turn, was a close associate of Barry Seal.

Attempts to investigate Clinton’s role in these sorts of operations and more broadly in the Iran-Contra affair were scuttled by Clinton’s confidantes, who consistently denied he played a role in the scandal. According to the Wall Street Journal, former IRS investigator William Duncan teamed up with Arkansas State Police Investigator Russell Welch in what became a decade-long battle to bring the matter to light.48 Yet, of the nine separate state and federal probes into the affair, all were shut down.

Duncan would later say of the investigations, “[They] were interfered with and covered up, and the justice system was subverted.” A 1992 memo from Duncan to high-ranking members of the attorney general’s staff notes that Duncan was instructed “to remove all files concerning the Mena investigation from the attorney general’s office.” The attorney general, serving under George H.W.Bush, at that time, was William Barr. As mentioned before, Barr had been a former CIA officer before then joining the Agency-linked law firm of Shaw, Pittman, Potts & Trowbridge.

Reed alleged that one of the CIA’s point men in the Arkansas operations was a man who claimed to be the general counsel for Southern Air Transport and went by the name Robert Johnson. Johnson seemed to give Governor Clinton his marching orders, and was particularly incensed when Bill’s wayward brother, Roger Clinton, was busted in 1985 for peddling cocaine. As previously mentioned, Roger’s penchant for cocaine was one he shared directly with Lasater, who testified that the two had frequently indulged in the drug together.

Johnson reportedly told Clinton that he was “Mr. Casey’s fair-haired boy” and that Arkansas had been the CIA’s “greatest asset.” Johnson went on to deliver to Clinton the following message: “Mr. Casey wanted me to pass on to you that unless you fuck up and do something stupid, you’re No. 1 on the short list for a shot at the job that you’ve always wanted. You and guys like you are the fathers of the new government. We are the new covenant.”49

According to Terry Reed, who witnessed these happenings, he would later learn that Robert Johnson was none other than William Barr. These allegations place Barr’s use of the alias Robert Johnson in an interim period where little is known about Barr’s activities – he had served as Deputy Assistant Director for Legal Policy in the Reagan White House until September 1983, and then had joined President Bush’s Justice Department in 1989. As previously discussed, it was between the months of September and October 1983 that Casey’s pre-Enterprise support for the Contras began moving in a concrete way, and it was also in this same period that Manuel Noriega had entered the picture. The answers that Barr provided to the Senate Judiciary Committee states that between 1983 and 1989, he had returned to the CIA-linked firm of Shaw, Pittman, Potts & Trowbridge, and in 1985 had become a partner at that firm.50

As for Roger Clinton, after he was released from prison in 1986, he went to work at Calumet Farms, a Horse Farm in Lexington, Kentucky.51 Calumet’s owner, J.T. Lundy, had been a longtime friend and business partner of Lasater, who was something a big name in the inner circle of Lexington’s elite. Lundy boasted his own roster of organized crime contacts. One figure who flickered in and out of Calumet was Robert Libutti, a brash “New Jersey gambler, racehorse consultant” and associate of the Gambino crime family.52 All in all, it was an interesting environment for a politician’s brother out on parole who was ostensibly seeking to clean up his act.

Just across the street from Calumet were a pair of curious horse farms. One was owned by Nelson Bunker Hunt, of the Dallas Hunt family, who had been one of Oliver North’s prominent private Contra donors. Next door was Murty Farms, purchased in 1984 by fellow Texan – and fraternity brother of Nelson Hunt – George Aubin.53 Aubin was part of the savings and loan crowd down in Texas, and was something of a mentor to a mega-borrower named John Riddle. Besides looting S&Ls, Riddle had a taste for aviation, which was expressed through his ownership of a company called First Western Airline. According to Ari Ben-Menashe, First Western “was used as a cutout by the Israelis and the CIA to transport American arms to the Middle East.”54

Additional information about the Mena operations was provided in a deposition given by the controversial Iran-Contra whistleblower Richard Brenneke. His allegations, made in the summer of 1991, were recently summarized in a lawsuit filed on behalf of Linda Ives, the mother of Kevin Ives. Kevin’s body was found, along with that of his friend Dan Henry, on train tracks near Alexander, Arkansas, under exceedingly strange circumstances.55 According to this summary, Brenneke claimed that he had flown “10 to 12 flights of a C-130 into the Mena, Arkansas, airport” and “took guns and paramilitary forces from Mena to Panama.”56 Cocaine was being flown back from Latin America to the Mena airport, where it was dispersed to, among others, representatives from New York City organized crime.

One of the most fascinating parts of Brenneke’s allegations is that he moved money that had been paid by the organized crime figures for the drugs into accounts in a Panamanian bank held in the name of International Fund for Mergers and Acquisitions (IFMA), a company where he was acting as vice president. IFMA was reportedly not only utilized by the CIA, but by Michael Harari, Mossad’s man in Panama, to launder money and arrange arms shipments in Latin America.57 The company’s president was Ramon d’Onofrio, a businessman with a long track record of shady deals and bankruptcies.58 A New York Times article identified d’Onofrio as a business associate of Alfred Buhler, a lawyer from Lichtenstein, who was reported by the paper as being protected by the CIA itself.59

Another d’Onofrio business partner was Charles Hurwitz, the bigtime corporate raider who, from his humble beginnings as a prominent commodities trader Bache & Co., had developed extensive holdings ranging from the Kaiser Aluminum Corporation to Arkansas real estate to the United Financial Group (UFG), the largest S&L in Texas.60 Hurwitz filled UFG’s asset sheets with junk bonds peddled by Drexel Burnham Lambert, which also owned a 10% stake in the S&L. This wasn’t Hurwitz’s only involvement with the Drexel Burnham junk bond kings: a sale of $450 million worth of junk bonds were sold to help a Hurwitz company, Maxxam, take over California’s Pacific Lumber.61

UFG was subsequently bought by the New York bonds trader and financier Lewis Ranieri, who appears in Jeffrey Epstein’s contact book with eight phone numbers and two addresses listed. Ranieri is best known for his role in developing the first market for mortgage-backed securities.

Hurwitz, while he was still riding high on Drexel’s runaway junk bond train, developed several business ventures with the mob-linked S&L bigwig from Louisiana, Herman Beebe.62 As mentioned in the previous chapter, Beebe had, during the 1970s, owned a warehouse where explosives destined for Cuban exiles were stored – explosives that were meant to be moved by Barry Seal, prior to a Customs sting.

Herman Beebe had a tendency to appear at the same S&Ls where Mario Renda could also be found. Renda, as noted in the previous chapter, was Adnan Khashoggi’s friend with a penchant for seeding fraudulent borrowing with Teamster pension fund deposits. A list of banks controlled or suspected of being controlled by Beebe from a 1985 Comptroller of the Currency report included Mainland Savings of Houston. This is the same S&L where Renda had brokered deposits and where Khashoggi had involved himself in an aforementioned series of bewildering deals. Were Renda and Beebe operating in concert?

A smoking gun is hard to discern, but the two both hung out – and arranged deals – at the La Costa resort in Southern California. La Costa, as noted in chapter 1, had long been a mob hang-out; it had been built with the aid of Teamster pension fund loans, and Burton Kanter was listed as the resort’s agent at the time it was incorporated.

Beebe had other potential ties to Iran-Contra. The same Comptroller of the Currency report that named Beebe-linked banks also listed Palmer National Bank in Washington DC.63 If Beebe did control Palmer, it was hidden. The bank’s founder was Stefan Halper, a DC bureaucrat who had held various positions within the Nixon, Ford, and Reagan administrations. Halper’s father-in-law was Ray Cline, the old OSS and CIA veteran who, at the time, was working with John Singlaub of GeoMiliTech.

Palmer was also where the National Endowment for the Preservation of Liberty, the Contra fundraising apparatus set up by Spitz Channell on behalf of the Enterprise, held its bank accounts. According to internal NEPL documents acquired by Pete Brewton from the National Security Archives in DC, the NEPL maintained accounts at only one other bank: Irving Trust, the New York City-based commercial bank. Irving Trust was also the major financier, alongside Drexel Burnham Lambert, of Charles Hurwitz’s Pacific Lumber takeover.64 Irving Trust which subsequently be purchased by Bank of New York with the aid of Bruce Rappaport. Bank of New York and Rappaport’s Inter Maritime Bank (IMB) would become intertwined when the stake held by BCCI in IMB was purchased by BNY.

Irving Trust also maintained a branch in Little Rock, Arkansas. In the late 1970s, an intern at this branch was James T. Riady, the son of a prominent Indonesian banker and businessman named Mochtar Riady. Together, the Riady family, originally from China’s Fujian province, and their close relationship with another giant of Arkansas business, Jackson Stephens, would become crucial to understanding what exactly was happening in Arkansas during Clinton’s time as governor.

BANK BUILDING

he last time we encountered Jackson Stephens, he was aiding BCCI’s takeover of First General Bankshares – later rechristened as First American Bankshares – and its subsidiary, National Bank of Georgia. He had been brought into the fold through his friendship with one of NBG’s big shareholders who had been courted by BCCI, Bert Lance, who Stephens had brought to Arkansas with some of BCCI’s representatives for negotiations over the purchases.

When Lance began searching for buyers of his NBG stock, BCCI wasn’t the only interested party that he brought to Stephens’ attention. There was also Mochtar Riady, a politically-connected Indonesian banker and financier who commanded the Bank of Central Asia, “the third largest private banking firm in Indonesia” that held some $100 million in assets.65 In the years to come, the wealth of Mochtar and his son, James Riady, would swell into the billions, all marshaled under the auspices of an umbrella corporation called the Lippo Group. Their meteoric ascension was thanks in no small part to the strategic partnership the Riadys had with Jackson Stephens and Stephens Inc., which developed soon after the Indonesians dropped out of the NBG purchase.

How Riady first entered the picture is telling. According to various press reports, Riady had been introduced to Stephens by Bert Lance, while Lance had first come into contact with Riady through an introduction made by Robert B. Anderson, a once-well regarded figure in politics who had become a specialist in offshore banking. Anderson and Riady, meanwhile, had been brought together several years prior by an unnamed executive from New York City’s Chemical Bank.66

Chemical, at the time, had established a significant presence in south-east Asia: it had opened branches in Hong Kong; maintained business operations in Singapore; and in Indonesia, it had embarked in a joint venture with the Riady family. Chemical Bank would ultimately maintain a long-running alliance with Riady interests. In 1988, their joint venture expanded when they teamed up with Royal Bank of Scotland and Jardine Fleming (a Hong Kong partnership between the merchant houses Jardine Matheson and Robert Fleming & Co.) to set up the Multinational Finance Corp, or Multicor. According to Mochtar, Multicor was set up first and foremost to “expand Bank Central Asia’s financing channels and financing capabilities.”67

While Riady was toying with buying into National Bank of Georgia, commentators and regulators began to suspect that something else was afoot. One common concern was that Riady wasn’t acting alone, and that he was serving as a front for Indonesian political interests that hoped to gain political and economic leverage in the United States.

Interestingly, in this same period, William Casey had a series of dealings with Indonesian interests. These activities later came back to haunt Casey during his confirmation hearings for the CIA, when he was questioned if he had failed to register as a foreign agent for Indonesia.68

When he was working in the private sector as an attorney for Rogers & Wells – a time discussed extensively in chapter 6 – Casey took on as clients a complex of interrelated Indonesian interests.69 There was Pertamina, the country’s state-owned oil company, and the Ramayana Indonesian Restaurant in New York City. There was also Indonesian Enterprises Inc., a holding company that had been set up for the restaurant. Pertamina was the major interest in this holding company, holding all of its Class B stock. Indonesian Enterprises issued Class A stock, in turn, to various banks and oil companies that were doing business with Pertamina.

Holders of Class A stock included Bruce Rappaport’s InterMaritime Bank, which was engaged in a convoluted succession of fraudulent tanker chartering deals with Pertamina.70 Elias Kulukundis, mentioned previously as a close business associate of Edward Carey, was also involved in these chartering activities. Investment capital from Kulukundis and Rappaport further mingled in the tanker companies of a “mystery man” named Steven Davids-Morelle, whose Tankers International Navigation Corporation joined Pertamina’s tanker chartering and in the purchase of Indonesian Enterprises Inc. stock.

Was there any sort of connection between Casey’s relationship with Indonesian interests and Anderson’s encounter with the Riadys? The picture is murky, and records of Anderson’s own Indonesian activities isn’t readily accessible. What is certain, however, is that Anderson was another member, alongside Rappaport, of Casey’s “Hardy Boys” clique, which is certainly suggestive that some sort of collusion was taking place. Furthermore, the list of Indonesian Enterprises, Inc.’s Class A stockholders includes Dresser Industries – the Texas oil concern closely intertwined with Bush family interests – where Anderson had sat on the board of directors.

It is worth diving a little deeper into Anderson’s biography before returning to Stephens and Riady, because it is both an illustrative case of high-level political corruption and also intersects in numerous ways with key figures in this ongoing history. With a background in law, Anderson had served in a number of mid-level bureaucratic positions in Texas in the 1930s, including stints as the state’s Assistant Attorney General and as the state tax commissioner. In 1937, he became the general counsel for the W.T. Waggoner estate, headquartered in Vernon, Texas. The Waggoner estate was a large ranching empire that extended its reaches into banking and various other industries, real estate development and the like.

The Waggoner family, like many of the great Texas clans, was a source of political clout, and Anderson was soon found mingling with the Texan elite. One impressive early encounter was his purchase of the KTBC radio station, which he then sold to Claudia Alta “Lady Bird” Johnson, Lyndon Johnson’s wife, in 1943. It subsequently became a major source of revenue for the Johnson family. Anderson also acted as a lobbyist for powerful Texas oil interests, and was particularly close to early industry giants like Sid Richardson, Clint Murchison, and the Bass family. He could also be found at the helm of the Mid-Continent Oil and Gas Association of Texas, which brought together a wide range of businessmen involved in all different aspects of oil production.

At the urging of these deep-pocketed petroleum interests, Anderson was brought into the Eisenhower administration. In 1953, he was made Secretary of the Navy, and a year later he moved and became the Deputy Secretary of Defense. In 1955, he left government and took a position as president of Ventures Ltd., a Canadian mining company controlled mostly by American and British industrial and financial interests, before returning to the public sector again as Eisenhower’s Secretary of the Treasury. There, he arranged for lucrative tax relief packages for Texas oil. By 1961, he was back in the private sector again, this time managing his own business consultancy – the Anderson Group – located at Rockefeller Plaza. He also joined on as a limited partner at Carl M. Loeb, Rhoades & Co., the Wall Street brokerage firm that was closely interlinked with Bronfman interests (the Loeb- Bronfman connection will be discussed in chapter 11).

During his time with Loeb, Rhoades & Co., Anderson developed two important connections. The first was to Bank of America, which was central to the later development of BCCI. In 1964, Anderson joined forces with Bank of America and Belgium’s Banque Lambert to set up the World Banking Corporation, an offshore facility in Bermuda that was set up for dealing in the emerging Eurodollars market.71 That same year, he joined Bank of America’s council of advisors.

He also forged ties with Rockefeller interests. He had been connected to the Rockefellers during his time in the Eisenhower administration – if not earlier, given the presence of the Rockefeller family in Texas. Then, during the mid-1960s, he became an investment advisor for Standard Oil of Indiana. In 1969, this led Anderson, acting on behalf of Standard, to set up an investment consortium in partnership with Maurice Tempelsman, a major player in the international diamond market, that would push for American-led interests in the Congo.72

Tempelsman, interestingly, had ties to American intelligence. With numerous interests across Africa, he recruited veterans of the Agency to navigate that world. As Arthur Levy points out, “In the 1960s Tempelsman hired as his business agent the CIA station chief in Kinshasa, Larry Devlin, who helped put Mobuto into power and afterward served as his personal advisor”.73

There was yet another line leading from Tempelsman to Casey’s “Hardy Boys” that was independent of Anderson. According to Alan Block, one of Rappaport’s top lieutenants, Jerry Townsend, was a “former” CIA officer who had worked in Turkey, Zambia, and Burundi with Tempelsman. Block adds that “Tempelsman was part of Rappaport’s group, according to Townsend.”74

Then there were the ties between Anderson and the banking circles around BCCI. In the early 1980s, he was found on the board of the Paris-based Saudi European Bank, which was owned by the BCCI-linked Saudi European Investment Corporation N.V. Other principals in the Saudi European Bank included John Connally, the former governor of Texas and George Shultz’s predecessor in the Nixon administration as Treasury Secretary. When Connally was running against Reagan in the early days of the Republican presidential campaign against Carter, Bechtel had initially backed him before switching to support the eventual president. Connally, at that point, embarked on a voyage as a real estate developer, partnering with the infamously corrupt Ben Barnes – also a former Texan politician – in deals that involved tapping a slew of savings and loans for fraudulent loans.

The S&L connection to Saudi European was strong. Its board also counted with the presence of Charles Keating, whose American Continental Corporation and Lincoln Savings and Loan, pumped out bad loans at an astounding rate after the Reagan administration led the deregulation of the S&L industry. Keating and Connally were close, with the banker having served at first as Connally’s West coast finance chairman during his political campaign, followed by a shorter stint as campaign manager. Interestingly, one of Connally’s campaign workers, Joyce Downey, later went to work for Connally and Barnes before relocating to Arizona, where she worked as the office manager for John Singlaub’s US Council for World Freedom, the American branch of WACL.75 USCWF happened to be located next door to the headquarters of Keating’s American Continental Corporation.

In 1984, Keating’s Lincoln Savings invested $18 million into Saudi European’s holding company, the Saudi European Investment Corp.76 Keating then joined Saudi European’s international advisory board, while Saudi European began issuing lines of credit to Keating’s companies. According to a report in the Los Angeles Times, the “bank and its parent company acted as sham financiers and buyers in Keating’s efforts to book profits at Lincoln.”77 A subsidiary of Lincoln called Amcor Investments – which was involved in several complicated real estate arrangements with John Connally – sold an option it held to Saudi European in order to buy a “profits interest” in General Oriental Securities Limited, an offshore corporation set up by the corporate raider Sir James Goldsmith for takeover purposes.78 Goldsmith, as previously mentioned, was part of the Clermont Club and was also one of the main businessman, along with Robert Maxwell, sought out by Rothschild Inc. to help the elite banking family expand its influence in the US financial system.79

In December 1986, Keating, utilizing a subsidiary of his American Continental Corporation called Dungiven, organized a Bahamian investment corporation called Trendinvest.80 Joining the board of directors was one of the busiest man in shadow banking, Alfred Hartmann, who could also be found alongside Anderson, Keating and Connally at the Saudi European Bank. Among the other stakeholders in Trendinvest was Gesellschaft Fur Trend Analysen, a West German firm that specialized in computerized currency trading, and Royork and Company, a subsidiary of the Royal Bank of Canada. Through this offshore vehicle, Keating was able to funnel tens of millions of S&L money out the United States – money that, in the end, had to be paid back by the US taxpayer. Thus, the fact that Riady’s meeting of Bert Lance, and by extension Jackson Stephens, was made by Anderson, reveals the type of networks that enabled the Riady-Stephens partnership.

The story of Jackson Stephens is inseparable from Arkansas’ longest running and most prestigious law firm, Rose Law. Rose’s beginnings went back to the 1820s, when Arkansas was still a territory instead of a state. One of its founders was Robert Crittenden, a Kentucky-born lawyer who had been appointed by President James Monroe to act as the governor of the Arkansas territories. His partner was Chester Ashley, one of Arkansas’ very first senators. From these beginnings, Rose Law was woven into the fabric of the state itself, and remained closely tied to the Arkansas’ political and economic elite.

Arkansas, to quote journalist L.J. Davis, boasted a “ruling oligarchy, a small and relatively powerless middle class and a disenfranchised, leaderless populace.”81

Through the 1970s and into the late 1980s, a period which saw Stephens’ star rise in Arkansas, Rose was headed by C. Joseph Giroir. In addition to his status as a high-powered attorney, Giroir was a specialist in securities. In the 1960s, Giroir worked far from Arkansas, in the offices of the Securities and Exchange Commission in Washington, DC. While little is known about his activities in the capital, what is certain is that, when he returned to his home state, he brought with him an adamantly pro-business outlook and a drive for modernization.

Once settled at Rose, he went about upgrading Rose’s home-spun inclinations for the nascent information age. “He brought the firm billable hours, computers and high-premium securities work, then got in trouble with his side business – buying and selling banks while wearing too many hats for his shallow pockets, and using Rose lawyers to do the work.”82

One particularly controversial banking escapade in which Giroir was embroiled involved a string of borrowing from a fraud-riddled savings and loan in Pine Bluff, Arkansas, called FirstSouth. Regulators were intrigued by whatever relationship Giroir had with the S&L. While he was dipping into their loan basket, he had also become a stakeholder in First-South and was writing legal advice to the S&L on paper with a Rose Law letterhead.83 FirstSouth, by the time it collapsed in 1986, had doled out a big pile of loans that were never paid back. Among their biggest borrowers – and defaulters – was Clint Murchison Jr., the organized crime-linked Texas oil player.84

A small group of lawyers who worked under Giroir would later become powerful actors in state and federal politics and, while at Rose, they were involved with the firm’s strangest dealings. This group was composed of Webster Hubbell, who would become Associate Attorney General under President Clinton; Clinton’s future White House counsel Vince Foster; and the soon-to-be First Lady, Hillary Rodham Clinton. This trio, like their boss, had an appetite for shady business dealings. All three were partners in a company called Midlife Investors, which had been set up in the early 1980s by E.F. Hutton. “Hubbell, Foster and Rodham Clinton each kicked in $15,000 and named each other – rather than their spouses – as beneficiaries.”85 Through Midlife, the trio dumped money into companies being targeted by corporate takeover artists like James Goldsmith.

Clinton in particular liked to haunt the corporate boardrooms and offices, often spending more time working on business affairs than the daily law work demanded by Rose. As L.J. Davis writes,

She was only one of two Rose partners to act as a corporate director, serving at various times on the boards of four companies and earning $64,700 in 1991 from director’s fees alone. (Her 1991 salary from Rose was in the vicinity of $110,000; her husband earned $35,000 and got to live in a free house.) She was on the board of Wal-Mart, a Rose client that Stephens had launched on the road to glory. (Rodham Clinton also owned $80,000 worth of Wal-Mart stock.) She served Southern Development Bancorp, a holding company created to give development loans in rural Arkansas, which, according to the Washington Post, paid Rose somewhere between $100,000 and $200,000 in fees. In 1989 she joined the board of TCBY yogurt company, which occupies the tallest building in Little Rock. TCBY then proceeded to pay Rose $750,000 for legal work during the next few years.86


Such was the backdrop to the grand ambitions of Stephens and Riady for a sprawling business complex. Not satisfied with playing in Arkansas alone, the pair made a very early stop-over in Macau, where they bought up massive blocks of stock in the storied Seng Heng Bank, which allowed them to gain full control over the company.87 The sellers had been the trio of Cheng Yu-tung, Ho Yin, and Lu Daohe. Cheng had been the founder of two interlinked Hong Kong-based conglomerates, Chow Tai Fook Enterprises and New World Development Company Limited. Through these two large corporations, he had become one of the city’s richest individuals. Cheng was very close to Stanley Ho, another Hong Kong billionaire who held the monopoly over Macau’s casino industries. In 1989, Stephens and Riady, curiously enough, sold Seng Heng to STDM, a company controlled by Stanley Ho.88 Ho will appear again later, in chapter 16, as one of his close business partners, Ng Lap Seng, was a key figure in the so-called Chinagate scandal of the mid-1990s.

Cheng’s associate in Seng Heng, Ho Yin, is worth examining briefly. Like Cheng and Stanley Ho, Ho Yin was another Hong Kong-based businessman with numerous Macau holdings. What he was most infamous for, however, was his role in Macau’s illicit gold trade, which flourished due to international regulations governing gold markets from the end of World War II through the early 1970s. His particular largess derived from the ties he had cultivated with the nascent Chinese Communist Party, having made contacts with Mao and Zhou Enlai shortly after the revolution.89

His work managing funds for the Party earned him a spot among the so-called “Red Fat Cats,” and he even held a position on the Standing Committee of the Chinese National People’s Congress. In Macau, meanwhile, he ran multiple public companies and for a time served as vice president of the Macau Legislative Assembly. He also ran numerous businesses, including multiple banks, through which his gold trade flowed. Among these banks was Seng Heng. Until 1974, when gold trading was deregulated, “$40-50 million worth of gold passed through the narrow door of Seng Heng annually.”90 All in all, this made a very interesting purchase on the part of Stephens and Riady.

Seng Heng wasn’t the only bank the duo bought in 1983. That was also the year they began purchasing the stake held by Midland, Texas, oilman John Hendrix in the First Arkansas Bankstock Corporation (FABCO). As part of the deal, FABCO issued additional stock that could be purchased exclusively by Stephens and Riady; combined with Hendrix’s holding, Stephens Inc. and Lippo achieved control over FABCO as a joint venture.91 This takeover granted them control over a wide network of Arkansas banks that were held by FABCO. These included Worthen Bank & Trust Co of Little Rock, First National Bank of Hots Springs, the National Credit Corp of Pine Bluff, and the First National Bank of Mena.92

That the latter bank was located in the same town where the CIA had set up shop and where drug smuggling was taking place raises all sorts of questions.

However, at the same time, the acquisition of these banks was part of a wider effort by Stephens and Riady to build out an Arkansas banking empire. They turned to Joseph Giroir, the head of the Rose Law Firm, to lobby for changes in state laws that restricted the range of activities that bank holding companies could carry out.93 Giroir then purchased several banks, which were subsequently sold to Stephens and Riady. For his efforts, Giroir received money, a large block of Worthen stock, and a spot on Worthen’s board. Rose Law became counsel to Worthen, and the bank itself was transformed into something of a flagship for Stephens’ interests.
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Re: One Nation Under Blackmail, by Whitney Webb

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Part 2 of 2

CLINTON’S DEVELOPMENT MACHINE

In late 1984, Governor Bill Clinton unveiled an ambitious economic development plan for the state of Arkansas. It was a sterling example of Clinton’s commitment to a “pro-business” vision of government, and a direct foreshadowing of the sorts of economic policies that would become the norm during his time as US president. As one Arkansas newspaper put it, Clinton’s agenda “would wed some state agencies, their activities, funds and fund sources to efforts of the private sector.”94 It included the creation of a science and technology hub to “seed the birth of new firms, industries and innovations in Arkansas,” and a capital fund that would “aggressively lend higher risk capital to … member banks.”95

The centerpiece of Clinton’s plan, however, was the transformation of Arkansas Housing Development Authority, established in the 1970s, into the Arkansas Development Finance Authority (ADFA). The transition was more than a cosmetic change – the mandate for the new agency was to “do in the field of business development what it does in the field of housing development.” A month later, in January, Clinton outlined how the ADFA would work. It would “sell a wide range of tax-exempt revenue bonds to generate revenue. The money would then be passed to financial institutions for low-interest economic development loans.”96

The fortunes of Jackson Stephens became intimately entangled with the activities of the AFDA. Stephens Inc., for example, was frequently utilized by the ADFA to underwrite the bonds it issued.97 Stephens’ Worthen Bank, meanwhile, sometimes acted as the trustee for loans made by the ADFA.98 The bank itself directly interlocked with the agency itself: the president of the Worthen branch in the city of Pine Bluff, Arkansas, James Stobaugh, sat on the ADFA board. To make matters even more incestuous, one of the recipients of a major ADFA loan, Arkansas Freightways, was a freighter company in which Stephens Inc. held the controlling stake.99 Rose Law, of course, was Arkansas Freightways’ legal representative of choice.

The ADFA seems to have had a particularly close relationship with Beverly Enterprises, a subsidiary of Stephens Inc. that managed a national nursing home chain. Bobby Stephens (no familial relation to Jackson Stephens), the vice president of Beverly Enterprises, sat alongside Stobaugh on the board of the ADFA. Unsurprisingly, Beverly Enterprises profited handsomely from ADFA bond issuance, and retained the services of Rose Law. Several Rose Law associates, including Webster Hubbell, owned stock in Beverly.100 Beverly would later pop up in the Inslaw Affair – discussed in the next chapter – due to allegations that it was using the infamous, compromised version of the PROMIS software.

Besides Stephens Inc., the ADFA was a great economic boon for Clinton’s friend Dan Lasater and his bond business, Lasater & Company. Larry Nichols, the ADFA’s marketing director who had been dismissed by the governor, charged that the agency had been “set up by Clinton for Dan Lasater.”101 The reason for Nichols’ dismissal is intriguing: the press had learned that he had been using ADFA phones to make long-distant calls to Contra leaders, which he insisted had been authorized by ADFA head Wooten Epes. While there might have been a bit of hyperbole and vindictiveness to Nichols’ allegation, it is true that Lasater & Co. acted as an underwriter for bonds issued by the agency.102 There seems to have been a high degree of competition between Stephens Inc. and Lasater & Co. when it came to these underwriting contracts, but there was at least one direct link between the two companies. Michael Drake, formerly of Stephens Inc, was the vice president of Lasater & Co.

The ADFA’s first industrial development loan was granted to a strange company in Russellville, Arkansas called Park-On-Meter, Inc, or POM for short. It was another clear-cut example of Arkansas nepotism: the law firm that handled the legal work on the loan was Rose Law, while POM’s founder and president was Seth Ward II – the brother-in-law of Webster Hubbell. Alexander Cockburn, who penned a series of articles on POM, noted that “Worthen Bank … appeared among the institutions that from time to time had liens on POM.”103

In Compromised, Terry Reed and John Cummings wrote that the initial ADFA loan to POM was intended for the expansion of their industrial capacities in connection with a subcontract the company had gained from Iver Johnson’s Arms, a New Jersey-based firearms manufacturer.104 In addition to parking meters, POM was dipping into the armament business: on behalf of Iver Johnson’s, Reed and Cummings claimed, POM was constructing bolts and carrier assemblies for M16 rifles. Iver Johnson’s, in turn, had been tapped by the CIA for covert weapons production, and the M16s were ultimately destined for the Contras in Nicaragua.

Howard Schneider, a journalist for the Washington Post, found that the “Iver Johnsons company near Little Rock, which the book [Compromised] portrays as being the center of the gun-manufacturing effort, did ship a load of weapons to Nicaragua through a Mexican distributor” – precisely the arrangement that Reed and Cummings described.105 POM itself was found to have had a contract to make gun parts on behalf of Iver Johnson’s, though Seth Ward Jr. told the Post that it had been firing pins, not bolts. Iver Johnson’s, for its part, identified the arms as M1 rifles, not M16s.

Gary Webb observed a stark similarity between the gun manufacturing operation in Arkansas and a similar operation that had taken shape on the Cabazon Indian Reservation in Riverside County, California.106 What had started off as a takeover of the tribe as part of a plan to develop a gambling hub by John Philip Nichols, a mobster with reputed CIA ties, had transformed into an intricate joint venture with the Wackenhut Corporation and a handful of other firms (at least one of which was a direct CIA cut-out company) to develop weapons systems.107 Some of these, such as a line of light-weight machine gun pistols, were intended to be provided to the Contras.

These activities at Cabazon were at the center of journalist Danny Casolaro’s investigation into the network that he dubbed “the Octopus” and Cabazon played a key role in the Inslaw affair or PROMIS scandal – the subject of the next chapter.

Contra leader Eden Pastora – who later ran afoul of the Enterprise and was the target of an assassination attempt in May 1984 – attended at least one weapons demonstration at Cabazon. The list of those present for this demonstration included John Vanderwerker, a CIA research and development specialist, G. Wayne Reeder, a crooked developer close to Nichols (Reeder, incidentally, was a major S&L borrower with close connections to Herman Beebe), and Earl Brian, a close friend of Ronald Reagan and the controlling interest behind several tech firms.108 Brian, who was purported to have arrived at the demonstration with Reeder, would emerge as a central player in the Inslaw Affair.

Michael Riconosciuto, a chief witness in that case, was also present at the demonstration, and would subsequently charge that the alterations made to Inslaw’s PROMIS software were made at Cabazon.

Riconosciuto further attested to personal knowledge of Contra-oriented weapons development taking place at POM in Arkansas. He told Alexander Cockburn that POM had entered into an arrangement with Wackenhut and Stormont Labs, a California-based genetics research and pharmaceutical company, “to develop chemical and biological weapons that could be deployed in chemical guerrilla warfare.”109

An Army “chemical unit” was purported to have supplied POM with “chemical agents,” while the parking meter manufacturer, as part of its end of the arrangement, prototyped explosive devices such as grenades and bombs that would disperse the chemicals.

Internal documentation from Cabazon Arms, the joint venture between Wackenhut and the Cabazon tribe, does allude to Stormont Labs in the context of “agents and production techniques related to biological war.” The document in question, obtained by Casolaro and today logged in an archived collection of his surviving papers, was a letter from Nichols to a Harry Fair at Tactical Technology in Arlington, Virginia. That would be the Tactical Technology Office of the Pentagon’s DARPA, which Fair was connected to in the mid-1980s.110

Mentioned elsewhere in the papers of the Cabazon-Wackenhut joint venture was a company called the First Intercontinental Development Corporation (FIDCO), described by author Cheri Seymour as a purported National Security Council front company.111 Directors of FIDCO included Michael McManus, an attorney who served as an assistant to Reagan’s chief of staff, George K. Pender and Kenneth Roe of Burns & Roe, and Clinton Murchison Jr.112 As mentioned earlier, Murchison Jr. himself was in and out of Arkansas, borrowing heavily from the Rose Law-linked FirstSouth savings and loan.

When questioned about Riconosciuto’s claims, Ward Jr. told a journalist from The Nation that POM wasn’t in the chemical warfare business. The company was instead busy making “re-entry cones for the nuclear warheads on MX missiles and nozzles for rocket engines.”113 Intriguingly, the US Army’s 354th Chemical Company, since April 1981, had been located in Russellville, Arkansas. This unit maintained property directly adjacent to POM’s industrial complex.114

Riconosciuto told Alexander Cockburn and Bryce Hoffman, a journalist for The Nation, that since 1981, POM had been in the business of making drop tanks – auxiliary fuel tanks attached to the exteriors of aircraft – for C-130s. However, Cockburn and Hoffman were not able to confirm via the FAA, which regulates tank manufacturing, that POM was an authorized producer. Cockburn writes that when Hoffman contacted the FAA, “the official with whom he spoke apparently misunderstood his question on drop tank regulations and assumed he was a prospective manufacturer. ‘Oh! So you must have one of those Southern Air Transport contracts’.”115

OFFSHORED

ne of the weirder intersections in the ADFA complex was between the development agency and the Coral Reinsurance Company, which had been set up in the offshore haven of Barbados. Reinsurance is basically insurance for insurance companies: it allows company A (in this case, the primary insurance firm) to offload portions of its risk onto company B (the reinsurance company). The reasons for this are multifold. It offers a buffer or protection for the insurance company from risks, while also – and perhaps more importantly – allowing insurance companies to engage in expanded business practices that might otherwise have been blocked by government regulations requiring particular asset to risk ratios. Often, insurance companies will set up their own reinsurance companies for this exact purpose. In order to hide the ownership structure, offshore havens are selected to create these companies.

This is exactly how Coral functioned. It took debt and other risks off the books of its parent, though this parent was hidden through proxies. On the other side of this firewall, in actual control of Coral, was American International Group (AIG), the international insurance and finance monolith that, during the 2008 financial crisis, was bailed out by the US government to the tune of $180 billion dollars. In the Financial Crisis Inquiry Report, published in 2011, AIG was identified as having a lengthy history of engaging in overly risky ventures, frequently carried out with little to no hedging or protection.116 AIG’s creation of Coral is just one example of this.

In order to hide its connection to Coral, AIG had called upon the resources of Goldman Sachs, which in turn did the actual legwork in setting up the reinsurance company. Overseeing this operation was the head of Goldman’s stock and bonding trading department, Robert Rubin.117 Rubin would subsequently serve as cochairman of Goldman, starting in 1990, before transitioning to a storied career in public service. At the beginning of 1993, Bill Clinton – now president – appointed him as the director of his National Economic Council. A year later, Rubin was sworn in as Clinton’s Treasury Secretary. He served in that position until 1999 and, upon leaving the government, he went to work at Citigroup. As will be noted in chapter 16, Rubin was the person who signed off on Jeffrey Epstein’s first visit to the Clinton White House in early 1993.

Goldman Sachs organized Coral in a such way that AIG would not appear as a stockholder. Instead, stocks would be spread around to a small and select group who had been handpicked by Goldman. One of these was Samuel Zell, a shady property- flipper from Chicago who had ties to the Gouletas family, whose significant ties to Epstein are detailed in chapter 12, as well as to Burton Kanter. In 1976, Zell and Kanter, along with a handful of other associates, were indicted for hiding money gained from real estate deals in Helliwell and Kanter’s Castle Bank.118

The ADFA, however, was the largest holder of stock in Coral Reinsurance.119 It fueled its purchase in Goldman’s private offering with a hefty, multi-million dollar loan from the Chicago branch of Japan’s Sanwa Bank, which had a history of money laundering allegations. For instance, Sanwa’s Los Angeles branch had been a depository for money pilfered by the Marcos family of the Philippines.120 Interestingly, Terry Reed and John Cummings write in Compromised that the ADFA loan to Park-on-Meter was purchased by Fuji Bank of Japan.121 Fuji Bank has a history of involvement with Sanwa Bank, and the two banks have undertaken several different merger projects since the 1970s.

What brought the ADFA to the attention of Goldman Sachs and AIG? It is strange that a fairly obscure state government development agency, albeit one teeming with ties to intelligence networks and criminal enterprises, would be selected by these major Wall Street businesses to effectively underwrite AIG’s reinsurance apparatus. The answer is that the deal was arranged through the ADFA’s powerful insider, Jackson Stephens. It turns out that Stephens boasted all sorts of business connections with AIG. For example, an offshore company called Beverly Indemnity was doing some work underwriting policies issued by AIG. Beverly Indemnity was itself something of a hidden subsidiary of Beverly Enterprises, and was run by Beverly’s general counsel, Robert Pommerville.122

The nursing homes managed by Beverly Enterprises were insured by National Union Fire and Home Insurance of Pittsburgh, an insurance company 100% owned by AIG.123 National Union Fire and Home had its own connections to the world of offshore insurance hijinks. According to financial journalist Lucy Komisar, the AIG subsidiary was providing insurance to Victor Posner’s NVF Corp. via an offshore company called Chesapeake Insurance.124 Posner’s NVF, as mentioned in chapter 6, had been one of the firms represented by William Casey in the years just prior to his time as Reagan’s CIA director. Importantly, Reagan offered the position of deputy director of the CIA to Maurice Greenberg, then the head of AIG. Greenberg, who had maintained longstanding ties to the agency, declined the offer.125

Greenberg’s ties to the CIA are nested within a wider history of involvement of AIG with the world of intelligence. These ties stretched back to the earlier years of the company, when it was known as American International Underwriters, and was overseen by the company’s founder, Cornelius Vander Starr. Starr had set up a string of insurance companies across the Asia and the Pacific region, which became key nodes in the wartime intelligence apparatus. Starr himself went to work for the OSS, which brought him into contact with other “China hands” like Paul Helliwell. These insurance companies were deployed as cover for OSS agents, many of whom had started off as Starr’s employees.126 In addition, AIG’s longtime general counsel, Duncan Lee, had served in the OSS as the special assistant to William Donovan. After the war, he went to work as counsel for the CIA’s Civil Air Transport. Incredibly, Lee was eventually outed as having acted as a mole for Soviet intelligence within the OSS.127

The connection between Starr and Helliwell was of particular importance. In 1963, Helliwell and Inge Gordon Mosvold – a frontman for Daniel K. Ludwig, the mysterious billionaire shipping magnate – set up the Bank of the Caribbean Limited. It was something of a paper bank, established and then left on the shelf. During the mid-1960s, it was picked up by American International Underwriters and rechristened as Underwriters Bank Limited. The directors of the bank were all individuals connected to Helliwell and Kanter’s Castle Bank, signaling that the insurance complex that would become AIG was woven into the same hot money networks utilized by the CIA and organized crime.128

That Sam Zell, with his own dealings with Kanter and Castle Bank, would end up alongside the ADFA as a stockholder in AIG’s Coral Reinsurance suggests that these networks are in fact linked directly together. Also instructive is the fact that Paul Helliwell himself seems to have been involved in the very first offshore reinsurance companies, which he set up on behalf of George Eccles (who sat on the board of the Moody-controlled American National Insurance Company, or ANICO).129 AIG, meanwhile, took credit itself for developing the practice of offshoring reinsurance companies.130 Given the intertwined history of Helliwell and AIG, it is possible that both stand together at the genesis of these deceptive financial tactics.

BCCI RETURNS

Jackson Stephens liked to spread around his money and political influence. He was not content trafficking just with the Clintons and Arkansas interests, even if they were being propelled at a rapid pace toward the White House. He was also intent on cozying up to their counterparts in the Republican Party – the Bush family. In the late 1980s, Stephens was a member of the Bush-led “Team 100” project, which was a coterie of deep-pocketed GOP donors who had contributed at least $100,000 to the party (a Washington Post article on the Team 100 noted that donors included “major Drexel Burnham Lambert clients Frank Lorenzo, Ronald Perelman, T. Boone Pickens, and Saul Steinberg”).131 During this same time period, Stephens’ wife Mary Anne served as the co-chair of the Bush for President campaign’s Arkansas wing.132

Few cases, however, are as telling as the encounter between Jackson Stephens and Harken Energy, a small oil company oddly full of influential principals – the best known among them being George W. Bush, who was both a stakeholder and director. The story of Stephens and Harkens brings, among other things, BCCI back into the picture, and also sets the stage for the deepening relationship between BCCI-linked individuals and the banking networks down in Arkansas.

Harken was created in July 1973. The company was incorporated in California by two Wall Street traders, Phil Kendrick Jr. and Henry L. Mulligan.133 Their early target was Australia, which was viewed at the time as a place with untapped drilling potential. They soon entered into a consortium alongside Esso and Exxon and, before long, Harken had a dozen wells producing a modest amount of crude. In 1983, Kendrick and Mulligan unloaded Harken to a syndicate led by a pair of New York attorneys, Alan and Wayne Quasha. A sizable share of Harken stock was purchased by an offshore company called North American Resources (NAR). NAR was a joint venture of the Quashas and the Richemont Group.

Richemont is based in Switzerland, but first began in South Africa under the leadership of its founder, Antony Rupert. Richemont had been formed on the basis of Rupert’s predecessor company, set up in 1947, called the Rembrandt Group. Rembrandt had been closely tied to European financial interests. For example, Edmund L. Rothschild, then chairman of N.M. Rothschild, had served on the board of Rembrandt. Even the initial fortune that Rupert used to set up Rembrandt can ultimately be traced back to European origins. In 1943, he had become the head of the South African subsidiary of the Distillers Company, the Scottish alcohol and pharmaceutical giant that, as noted in chapter 2, was intimately connected to the Bronfmans.

The Quashas, meanwhile, are perhaps even more interesting than their South African business partner. Alan and Wayne Quasha worked at the law firm founded by their father, William Quasha, who – throughout the 1970s and 1980s – operated from his base in the Philippines. Jonathan Kwitny, in his classic work, Crimes of the Patriots, linked Quasha directly to Nugan Hand, the Australian bank that was utilized by Ted Shackley, Edwin Wilson, and others in their network. General LeRoy Manor, a counter-insurgency specialist, had become the chief of staff for the US Military Pacific Command before retiring and taking a position running the Nugan Hand office in the Philippines. He tapped Quasha to serve as the office’s attorney.134

Nugan Hand’s Philippines office was closely tied to the country’s corrupt leader, Ferdinand Marcos. General Manor had known Marcos since his days in the US Pacific Command, when the two negotiated over the land rights for American military bases in the Philippines. Kwitny adds that “Marcos’ brother-in-law, Ludwig Rocka, actually shared the Nugan Hand office suite, and Rocka’s International Development & Planning Corporation took over the suite after Nugan Hand’s collapse.”135 Rocka himself moved money through the bank, while Ferdinand Marcos and his wife, Imelda, were rumored to do the same. Quasha himself appears to have had ties to the Marcos family. When Marcos was facing stiff political opposition in 1986, he penned a controversial statement in support of the leader.136

It was subsequently revealed that the Marcos family hid away massive amounts of money and gold, pilfered from the Filipino citizenry, the public coffers, and the country’s gold mines, in secret Swiss bank accounts – namely, those at the Union Bank of Switzerland.137 According to Kwitny, Union Bank of Switzerland also appeared in the course of the Nugan Hand affair: “Bernie Houghton [one of the bank’s founders] was well acquainted with a traveling official of the Union Bank, and had brought him around to Nugan Hand representatives in Asia to make introductions.”138

David Armstrong, who penned an expose of Harken in Z Magazine in 1991, noted that Union Bank of Switzerland maintained connections to other figures involved with the oil company. Harken was closely connected to a Denver, Colorado-based company called Frontier Oil & Refining Co. – where Alan Quasha served as chairman of the board – which was taken over in the late 1980s by the Richemont Group’s Antony Rupert. Armstrong writes that “When Rupert acquired Frontier in a leveraged buyout in 1988, he announced an $85 million ‘revolving credit facility’ with Union Bank of Switzerland, replacing all of refiner’s previous ‘working capital facilities.’”139

Union Bank of Switzerland also had a history with one of Harken’s more surprising investors: the billionaire hedge fund manager George Soros. Shortly after the Quasha-Rupert takeover of Harken in 1983, Soros became the next biggest shareholder in the company after them. In 1984, an arrangement was made where Harken would act as the “exclusive agent and manager of Soros Oil Inc.”140

Two years later, Harken would gain two additional – and equally surprising – shareholders. For one, there was the Harvard Management Company, the body set up under the auspices of the Harvard Corporation to manage the elite university’s investments. Less than a decade later, Harvard and Soros would be found alongside each other again in arranging the privatization and looting of Russia state-owned industries shortly after the collapse of the Soviet Union.

As Russ Baker has shown, the longtime head of the Harvard Corporation, Robert G. Stone, was intimately familiar with the elite circles where business and intelligence mixed. Intriguingly, the president of the Harvard Management Corporation, Michael Eisenson, stated that “There were not too many degrees of separation between Stone and the Quashas.”141

There were also not too many degrees of separation between Stone and the Quasha’s partner, Antony Rupert. Stone’s father-in-law was Godfrey A. Rockefeller, a cousin of the better-known David, Nelson and Laurance brothers and a college friend of George H.W. Bush. In the late 1960s and early 1970s, Godfrey played a central role in organizing the World Wildlife Fund (WWF); according to a memorial published by the fund after his death in 2010, he had even hired their “first staff and chief scientist.”142 This would have certainly brought Godfrey into direct contact with Rupert, as the Southern African businessman had been personally recruited into the organization by Prince Bernard of the Netherlands in 1968.143

Also joining Harken in 1986 alongside Harvard was the son of Godfrey’s friend – George W. Bush. It was also the year that Harken bought up Spectrum7, a beleaguered oil company that had been formed from a merger between Bush Exploration – set up originally as Arbusto Energy by George W. Bush in 1977, with investment capital provided in part by CIA asset Jim Bath as well as the oil concerns of Ohio businessmen William DeWitt Jr. and Mercer Reynolds III.144 Spectrum was reportedly barely even an oil producer, “less concerned with recovering oil than in creating tax shelters. The company specialized in selling limited partnerships, which generated generous write-offs before the tax laws were revised in 1986.”145

Russ Baker writes that within several years of the deal between Bush Energy and Spectrum, DeWitt and Reynolds were “on the ground floor” of an insurance and reinsurance company called Midwest Employers Casualty Company (MECC).146 Stephens Inc. – which, as noted above, was actively connected to the world of reinsurance – was one of the big stockholders in MECC.

When Spectrum was purchased by Harken, Bush, formerly Spectrum’s CEO, joined Harken’s board of directors. He also received a sizable chunk of Harken stock, and a high-dollar consultancy fee that he continued to receive after he went to work on his father’s presidential campaign in the late 1980s. In December 1988, Bush took a low-interest loan out from Harken, which he used to purchase more of the company’s stock. As the 1980s drew to a close, Harken had drawn itself even deeper into the orbit of Bush-connected interests. It organized a commodities trading subsidiary, which formed a close working relationship with Enron.147 Enron’s president, Kenneth Lay, had been a big supporter of George H.W. Bush since the 1980 election, and the company would later become one of George W. Bush’s greatest political benefactors.148

However, it was in 1987, before Bush re-upped his Harken stock, that the company crossed paths with Clinton’s and Bush’s backer, Jackson Stephens. After the Spectrum7 buy-out, Harken had a debt problem, and was in need of further financing in order to resolve its core issues. They turned to Stephens Inc., which quickly went to work and brought in the Union Bank of Switzerland.149 Union Bank bought up Harken stock via Stephens, but soon the bank ran into a “regulatory snag.” The stock was then moved to another client of Stephens Inc., Sheikh Abdullah Taha Bakhsh, who was a close business associate of two BCCI insiders: Khalid bin Mahfouz and Ghaith Pharaon. Union Bank of Switzerland, for its part, had its own BCCI ties. Together with the criminal bank it owned a Swiss bank called Banque de Commerce et de Placements (BCP). Representing BCCI interests at BCP was the ubiquitous Alfred Hartmann.150

Despite these efforts, by 1989, Harken was in trouble yet again. The commodity trading subsidiary proved disastrous, costing Harken some $17 million in losses by the end of that year. Soros exited at the same time, and along the way managed to convince Harken to sell their stake in the lucrative Crystal Oil Company of Louisiana to his Quantum Fund N.V. Harken’s future was now uncertain, as the company faced a cash shortage. Yet, suddenly, in January 1990, it landed an inexplicable oil deal with the mineral-rich country of Bahrain. David Armstrong wrote that the deal gave “Harken the exclusive exploration, development, production, transportation and marketing rights to most of Bahrain’s offshore oil and gas reserves. The territories covered by the pact lie sandwiched between the world’s largest oil field, off the shore of Saudi Arabia, and one of the biggest natural gas fields, off the shore of Qatar.”151

The cast behind Harken’s landing of this deal, which came at such a crucial time for the company, is full of the usual suspects. There was David Edwards, who acted as a go-between for Harken and Bahrain. He had previously worked for Stephens Inc. and had been involved in the Harken-Union Bank of Switzerland negotiations. There was Bahrain’s prime minister, Sheikh Khalifa bin-Salman al-Khalifa, whose brother was a BCCI stockholder in 1990.152 And there was also the US ambassador to Bahrain, Charles Hostler. He was reportedly close to BCCI frontman Mohammed Hammoud, who, as discussed previously, was tied up in various business and political ventures with Senator Orrin Hatch and Adnan Khashoggi. And what about Abdullah Taha Bakhsh, the man who ended up with Union Bank of Switzerland’s Harken shares? In October 1990, the New York Times reported that he had “acquired a 9.6 percent stake in the Worthen Banking Corporation, a bank holding company based in Little Rock, Arkansas.”153

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Endnotes:
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Re: One Nation Under Blackmail, by Whitney Webb

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Part 1 of 3

CHAPTER 9. HIGH TECH TREASON

THE MAKING OF A MAXWELL


Born in what is now part of Ukraine, “Robert Maxwell” was the last in a series of names used by Jan Ludvick Hoch, with his earlier aliases including the names Abraham Hoch, Jan Ludvick, and Leslie Du Marier. The name Robert Maxwell emerged at the behest of one of his superiors in the British military, which Maxwell had joined during World War II. He left the village of his birth prior to the war, when the Third Reich began its expansion, and made his way to Britain. Maxwell’s parents and his siblings are believed to have died in the Holocaust.

Robert Maxwell was involved with the British intelligence service MI6 during the war and, after the war, was befriended by Count Frederich vanden Huevel, who had worked closely with Allen Dulles during the war.1 Dulles went on to be the first civilian director of the CIA and, during the war, was busy running interference for prominent Nazis and actively undermining FDR’s “unconditional surrender” policy for senior Nazi leadership.2

Count Frederick Van Den Heuvel
by Google AI
Accessed: 8/20/25

Count Frederick Vanden Heuvel was the MI6 station chief in Berne, Switzerland, during World War II. He was known by the nickname "Fanny" and was described as the epitome of a perfect old-time diplomat, tall, courteous, and an excellent linguist who could speak fluent Swiss-German.

He had been educated in Berne and had previously worked for the Secret Intelligence Service (SIS) during World War I, though he had been compromised at that time.

He was appointed Station Chief SIS Geneva, where he recruited sources with access to opponents of the Nazi regime in Berlin, particularly aiming to gain the trust of anti-Nazi German Catholics.

His work in Switzerland was significant, and he operated from an office separate from the British Embassy in Berne, later moving to Geneva to be closer to the advancing Allied forces in 1944.

He was also involved in "Operation Lucy," which dealt with informants who wished to be paid.

A record from The National Archives, Kew, lists him as Major Count Frederick VAN DEN HEUVEL in the Special List from 1914 to 1922.

He was married to Countess Vanden Heuvel, and they were passengers on the SS Princess Alice cruise in 1911.

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Notes:

powerbase.info
Frederick Vanden Heuvel - Powerbase

wikispooks.com
Frederick Vanden Heuvel - Wikispooks  

aifpow.com
Chapter 10 - The SOE in Switzerland | ANZAC POW Free Men in Europe

catholicherald.co.uk
Catholics who came in from the cold - Catholic Herald

en.wikipedia.org
SS Princess Alice (1911) - Wikipedia

discovery.nationalarchives.gov.uk
Major Count Frederick VAN DEN HEUVEL Special List. | The National Archives

myheritage.com
Frederick Van Den Heuvel Family History & Historical Records - MyHeritage

myheritage.com
Frederick Vanden Heuvel Family History & Historical Records - MyHeritage

rijksmuseum.nl
Frederick Henry and Ernst Casimir of Nas


The chaos of post-war Europe allowed Maxwell to plant the seeds for what would become his future media empire. Thanks to his contacts with Allied Forces in post-war Berlin, he was able to acquire the publishing rights for prominent European scientific journals and, in 1948, those interests were folded into the British publishing company Butterworth, which had long-standing ties to British intelligence.3 In the early 1950s, the company was renamed Pergamon Press, and this company soon became the cornerstone of Maxwell’s media empire.

Pergamon’s access to prominent academics, scientists, and government not only led to Maxwell acquiring great wealth but also attracted the interest of various intelligence agencies – British, Russian, and Israeli among them – all of which attempted to recruit Maxwell as an asset or as a spy. When MI6 attempted to recruit Maxwell for the service shortly after the war, it concluded, after conducting an extensive background check, that Maxwell was a “Zionist – loyal only to Israel.”4 His subsequent relationship with MI6 was choppy and largely opportunistic on both sides, with Maxwell later laying some of the blame for his financial troubles on MI6’s alleged attempts to “subvert” him. Yet, it would not be until the early 1960s that Maxwell was formally approached and successfully recruited by Israeli intelligence, which sought to make use of his access to the various prominent businessman and world leaders that he had cultivated while growing his media empire.5

A few years after being officially recruited as an asset of Israeli intelligence, Maxwell ran for public office, becoming a member of the British Parliament for the Labour Party in 1964. His bid for re-election failed, which left him out of office by 1970. Around that same time, he also lost control of Pergamon Press, after a failed takeover attempt by Saul Steinberg prompted a government inquiry into Maxwell’s management of the company. That inquiry concluded that Maxwell “is not, in our opinion, a person who can be relied on to exercise proper stewardship” of a publicly held company.6 Nevertheless, Maxwell reacquired control of the company a few years later in 1974.7

Having nearly lost everything, Maxwell devoted his time to consolidating control over an ever-growing web of interlocking companies, trusts, and foundations that now encompassed much more than media concerns. During this time, he also began developing deep ties to prominent politicians, businessmen, and their fixers, a group that Maxwell proudly referred to as his “sources.” Among these early “sources” were soon-to-be UK prime minister Margaret Thatcher; Israel’s biggest arms dealer and one of its powerful oligarchs, Shaul Eisenberg; financial behemoths such as Edmund Safra; and master manipulators such as Henry Kissinger. Another early “source” was George H.W.Bush, who was then part of the Nixon administration and would soon serve as CIA director before becoming Reagan’s vice president and then US president himself.8

Maxwell’s sources and influence extended well beyond the West, with many of his most prominent contacts residing in Eastern Europe and in the Soviet Union. He had cozy relationships with dictators, intelligence officials, and even organized crime lords such as Semion Mogilevich, sometimes referred to as the “boss of the bosses” of the Russian mafia.9 It was none other than Robert Maxwell who orchestrated the entry of Mogilevich-connected companies into the United States, a move that was accomplished after Maxwell successfully lobbied the state of Israel to grant Mogilevich and his associates Israeli passports, thereby allowing them easier access to US financial institutions.10

The expansion of Maxwell’s prominent contacts paralleled the growth of his media empire. By 1980, he had acquired the British Printing Corporation, which he renamed the Maxwell Communication Corporation. Just a few years later, he bought the Mirror Group, publisher of the British tabloid the Daily Mirror.11 This was followed by his acquisition of publishers like MacMillan and later the New York Daily News. Money “borrowed” from some Maxwell-owned companies was allegedly used to finance Mossad activities in Europe and elsewhere; then, the funds were restored before the absence was noticed by company employees not privy to these operations. Maxwell later derailed this well-oiled system by dipping into these same funds to finance his own ostentatious and salacious habits as well as attempts to further expand his already bloated media empire well beyond its means.

During this period, Maxwell’s ties to Israeli intelligence deepened in other ways, particularly during the time when Yitzhak Shamir was prime minister. Shamir, previously a leader of a terrorist group known as Lehi or the Stern Gang, deeply loathed the United States, a sentiment he confided to Maxwell during one of Maxwell’s visits to Israel.12 Shamir told Maxwell that he blamed the Americans for the Holocaust because of the US’ failure to support the transfer of European Jews to Palestine prior to the war.13 Shamir’s very negative views about the US likely informed Israel’s more aggressive espionage operations that targeted the US during this time and in which Maxwell prominently figured.

A BROKEN PROMIS

One of the most brazen and successful operations ever conducted by Israeli intelligence on a global scale involved its sale of a bugged software program to governments, corporations, and major financial and scientific institutions around the world. That software program, known as the Prosecutor’s Information Management System or PROMIS, was originally created and marketed by Inslaw Inc., a company created by former NSA official Bill Hamilton and his wife Nancy.

In 1982, Inslaw leased its revolutionary PROMIS software to the US Justice Department, then headed by Edwin Meese III, Ronald Reagan’s most trusted advisor, Attorney General and, later, an advisor to Donald Trump following the 2016 election. The success of the software, which allowed integration of separate databases and information analysis on a previously unimaginable scale, eventually caught the attention of Rafi Eitan, the notorious and legendary Israeli spymaster as well as the handler of the “most damaging spy" in American history, Jonathan Pollard.14 Eitan, at the time, was serving as the then-head of the now defunct Israel intelligence service known as Lekem (sometimes written as Lakam), which focused specifically on espionage related to scientific and technical information and discoveries. Eitan had first learned of PROMIS some time in 1982. That December, using the alias Dr. Ben Orr, Eitan entered the US and unsuccessfully attempted to attend an official demonstration of PROMIS.15 He returned in February of the following year and was given a demonstration of a new version of the software, advanced PROMIS, by Bill Hamilton himself.16 During that trip, a former Inslaw employee then working at the Department of Justice, C. Madison “Brick” Brewer, gave “Dr. Orr” a copy of the software.17With the software in his possession, Eitan sought to to install a “trapdoor,” also often referred to as a back door, into the software. He would then orchestrate the marketing of this modified version of PROMIS throughout the world, providing Israeli intelligence with a direct window into the operations of its enemies and allies. According to the testimony of ex-Israeli intelligence official Ari Ben-Menashe, he, on Eitan’s orders, contacted an Israeli American programmer living in California.18 That programmer then planted a “trapdoor” or back door into the software that would grant the Eitan-led Lekem covert access to any database connected to a device on which the software was installed. To help market the compromised version of PROMIS, Eitan sought out a man named Earl Brian. Brian was a long-time associate of Ronald Reagan who had previously worked for the CIA in covert operations, beginning with the Vietnam-era Phoenix program, and had been in charge of Reagan’s healthcare program when Reagan was governor of California.19 It was through his healthcare-related ventures that Brian had first met Eitan.20 In 1982, however, Brian was attempting to build a new business empire, this one focused on technology. It was later disclosed that Attorney General Ed Meese’s wife, at the time, was a major investor in two companies controlled by Earl Brian and those investments had been made with money loaned to Meese’s wife by a close associate of Brian’s.21 In speaking with Rafi Eitan, Brian acknowledged the revolutionary efficacy of PROMIS. The software could track anything, specifically money and people. Instead of praising its innovative approach to data analysis, Brian expressed his frustration that the software enabled US federal investigators to successfully track and target money laundering and other financial crimes. He also expressed frustration that he had been left out of the profits on PROMIS, the development of which he had followed closely for several years.22As their conversation wore on, Eitan and Brian hatched a plan about how to best utilize and market the modified version of PROMIS.23 This agreement between Eitan and Brian eventually led to two different versions of bugged PROMIS software, one bugged by Israel for the main purpose of spying on the operations of foreign governments and intelligence services and one bugged by CIA-linked entities and individuals for the main purpose of engaging in financial espionage and money laundering. However, what would later become known as the Inslaw affair, sometimes also called the PROMIS scandal, began first with the version of PROMIS that had been stolen and then modified by Israel. With the bugged version of PROMIS ready, Brian attempted to use his company Hadron Inc. to market the bugged PROMIS software around the world, though he first had tried to buy out Inslaw to do so. When that effort failed, Brian launched a second effort to buy out Inslaw using a company called SCT that had been financed by Allen & Co., the company of the organized crime-linked Charles and Herbert Allen who were, among other things, business partners of Leslie Wexner’s mentors Max Fisher and A. Alfred Taubman (see chapter 13).24 Wired described Allen & Co. as having “close business ties to Earl Brian.”25 As will be noted in chapter 12, another figure associated with Earl Brian was Allan Tessler, the lawyer for the Epstein connected Gouletas family who was added to the board of Wexner’s The Limited in the late 1980s. Notably, Allen & Co. owned a significant amount of common stock in Earl Brian’s Hadron.26 Unsuccessful and unable to buy out the Hamiltons, Brian turned to his close friend, then-Attorney General Ed Meese, whose wife, as previously mentioned, had also invested in Brian’s business ventures. Soon, the Justice Department abruptly refused to make the payments to Inslaw that had been stipulated by the contract. They were essentially using the software for free, which Inslaw claimed was theft.

Meese’s actions forced Inslaw into bankruptcy and Inslaw subsequently sued the Justice Department, with a US court later finding that the Meeseled department “took, converted, stole” the software through “trickery, fraud, and deceit.”27 With Inslaw out of the way, Brian sold the bugged software to Jordan’s and Iraq’s intelligence services, a major boon for Israel, and to a handful of companies. Despite this, Eitan was unsatisfied with Brian and Hadron and their progress in selling the software. He quickly turned to the person he thought could most effectively market and sell PROMIS to governments of interest all over the world: Robert Maxwell.28

THE SPY AND THE SALESMAN

Maxwell’s prominent roles in the PROMIS software scandal and the Iran- Contra affair during the 1980s were facilitated by his purchase of numerous Israeli companies, several of which were either fronts or “providers of services” for Israeli intelligence. The most notable of these was Scitex, where Yitzhak Shamir’s son Nachum was a major executive throughout the 1990s and early 2000s, and Degem, a computer company with a large presence in Central and South America as well as in Africa.29

According to Gordon Thomas and Martin Dillon, even before Maxwell’s purchase of Degem, it had been used by Mossad as a cover for agents, particularly assassins, who would use its offices as a cover before conducting kidnappings and murders of individuals linked to groups with ties to or sympathies for Israel’s enemies, particularly the PLO.30 Some of the most notable events occurred in Africa, where Mossad assassins used Degem as cover to launch killings of members of the African National Congress. In Latin America, Degem was also used as cover for the Mossad to infiltrate terrorist and narco-terrorist organizations such as Peru’s Sendero Luminoso (known in English as the Shining Path) and Colombia’s National Liberation Army or ELN.31

Through Degem and other Maxwell-owned companies based in Israel and elsewhere, Maxwell marketed PROMIS so successfully that Israeli intelligence soon had access to the innermost workings of innumerable governments, intelligence services, and corporations around the world. Many of Maxwell’s biggest successes came in selling PROMIS to dictators in Eastern Europe, Africa, and Latin America. Following the sale, and after Maxwell collected a handsome pay check, PROMIS’ unparalleled ability to track and surveil anything – from cash flows to human movement – was used by these governments to commit financial crimes with greater finesse and also to hunt down and disappear dissidents. Israeli intelligence, of course, watched it all play out in real time.

In Latin America, for instance, Maxwell sold PROMIS to military dictatorships in Chile and Argentina. There, PROMIS was used to facilitate the mass murder that characterized Operation Condor, as the friends and families of dissidents and so-called subversives were easily identified using PROMIS.32 PROMIS was so effective for this purpose that, just days after Maxwell sold the software to Guatemala, its US-backed dictatorship rounded up 20,000 “subversives” who were never heard from again. Of course, thanks to their backdoor in PROMIS, Israeli intelligence knew the identities of Guatemala’s disappeared before the victims’ own families. Israel, along with the United States, was also intimately involved in the arming and training of many of the same Latin American dictatorships that had been sold the bugged PROMIS software.33

Though Israeli intelligence found obvious use for the steady stream of sensitive and classified information, their biggest prize was yet to come – top secret government laboratories in the United States. Eitan tasked Maxwell with selling PROMIS to US labs in the Los Alamos complex, including Sandia National Laboratory, which was (and is) at the core of the US nuclear weapons system.34 Notably, Maxwell’s eventual sale of PROMIS to these laboratories occurred during the same period in 1984 when Eitan tasked one of Israel’s top nuclear experts with supervising Jonathan Pollard’s espionage of U.S. nuclear secrets on Israel’s behalf.

In order to plot how he would accomplish the sale of PROMIS to Los Alamos, Maxwell consulted one of his “sources,” none other than Henry Kissinger. Kissinger told him that. in order to sell PROMIS to these sensitive laboratories, he needed to enlist the services of then-Senator for Texas John Tower, who was the then-head of the Senate Armed Services Committee.35 At the time, Tower was searching for lucrative opportunities as the sun was setting on his Senate career. Maxwell quickly struck a deal with Tower and then, using Mossad money, paid Tower $200,000 for his services, which included opening doors – not just to the Los Alamos complex, but also to the Reagan White House.36 Tower would arrange a trip for Maxwell to travel to Sandia National Laboratory, where he would market PROMIS. Unlike most other PROMIS sales, this one would not be handled by Degem, but a US-based company called Information on Demand.

Robert Maxwell had purchased Information on Demand from its founder, Sue Rugge – a former librarian – through the Pergamon Group in 1982. This was also the very year plans were made by Rafi Eitan and Earl Brian to subvert PROMIS.37 Its offices were just a few doors down from the home of Isabel Maxwell and her first husband Dale Djerassi, the son of the scientist credited with creating the birth control pill.

According to FBI files obtained by Inslaw Inc. via a FOIA request in the 1990s, San Francisco’s FBI field office began to look into Information on Demand, just a year after Maxwell had acquired it. The San Francisco office’s interest in the company was aroused in October 1983 and the FBI subsequently interviewed Rugge about the business and its activities.38 She told the FBI that the company’s sources “include over 250 computer data bases” and that company uses these to “locate single facts as well as provide answers to complex questions dealing with such areas as comprehensive marketing research, custom data summaries, sophisticated literature searching, current awareness service and global information capability.”

One of these databases included Lockheed’s Dialog database and “the Defense Technical Center which is connected to the Department of Defense (DOD) which contains classified information.” She asserted, however, that the company “has no password for access and further no need for access.” Elsewhere in the document, it notes that Information on Demand claimed not have any access to classified information “to the best of their knowledge,” but did “[include] information concerning government and various available means of tapping government information databases.”

The FBI asked Rugge about one client of the company in particular, whose name and identifying information is redacted in its entirety, but notes that this mysterious client had worked with Information on Demand since at least 1973. Subsequent efforts by Inslaw Inc. and others to learn the identity of the redacted client have been unsuccessful since 1994.

Notably, just one month before the FBI opened an investigation into Information on Demand and interviewed Sue Rugge, another related Maxwell-owned firm, Pergamon International Information Corporation (PIIC), had sent a letter to then-CIA Director Bill Casey, offering to provide the agency with access to patent databases.39 The only redacted portion of the letter is the identity of PIIC’s Executive Vice President, who had written the letter to Casey. After Rugge had been interviewed, FBI interest in Information on Demand peaked in June 1984, when a formal investigation was opened. This took place after two employees of Sandia National Laboratory, who worked in technology transfer, approached the Bureau over Information on Demand’s efforts to sell PROMIS to the laboratory.40 Those employees were compelled to contact the FBI after obtaining information from employees of the National Security Agency (NSA) regarding “the purchase of Information on Demand Inc. by one Robert Maxwell, the owner of Pergamon International.” The specific information on this purchase from the NSA is included in the report but redacted in its entirety. Two months later, one of the Sandia employees followed up with the Bureau, suggesting that the NSA and FBI jointly investigate Information on Demand, but was essentially stonewalled and told to take it up with FBI headquarters. The FBI case file is specifically coded as a foreign counter-intelligence investigation, suggesting that the case was opened because the FBI was made aware of the alleged involvement of a foreign intelligence service in some aspect of Information on Demand’s activities that related specifically to the “dissemination, marketing, or sale of computer software systems, including but not limited to the PROMIS computer software product.”41 It also noted that Maxwell himself had previously been the subject of a “security investigation” conducted by the FBI from 1953 until 1961. Notably, 1961 is the year that Maxwell was formally recruited as an Israeli intelligence asset. The FBI investigation likely focused on Information on Demand’s ties to Mossad, which were later reported by author Gordon Thomas. Per Thomas, the money used to run and operate Information on Demand’s California office “would come out of one of the Mossad accounts in Credit Suisse.”42

In early August 1984, FBI headquarters and other higher-ups in the Ed Meese-led Department of Justice, which itself was complicit in the whole sordid PROMIS affair, ordered the New Mexico office to halt its investigation into Information on Demand, Maxwell, and PROMIS. The cover-up, oddly enough, continues today, with the FBI still refusing, decades later, to release documents pertaining to Robert Maxwell and his role in the PROMIS scandal.43

Several months following the shuttering of the FBI investigation into Information on Demand, in February 1985 Robert Maxwell again returned to Sandia National Laboratories, signing the contract for the sale of PROMIS and listing himself as President and CEO of Information on Demand. A few months later, he passed that role on to his daughter Christine, who served as the company’s president and CEO up until her father’s death in 1991, according to her résumé.44 Upon the collapse of his business empire shortly after his demise, which also resulted in the closure of Information on Demand, Christine created a company called Research on Demand that offered similar services and specialized “in Internet – and Big Data analytics-related market studies for companies in the Telecoms.” In addition, Isabel Maxwell, who lived in close proximity to the company’s offices in Berkley, CA, told Haaretz that she had also worked for Information on Demand, which she refers to as “her sister’s company,” following her 1989 divorce from Dale Djerassi.45

THE CIA AND PROMIS

As previously mentioned, there were eventually two different modified versions of PROMIS containing different backdoors – the first having been developed by Israeli intelligence and the second having been developed by CIAlinked entities and individuals. The CIA version appears to have been focused mainly on the banking industry while the Israeli/Lekem version seemed to have been mainly marketed to intelligence agencies and other parts of the public sector that dealt with classified state information.

Though some authors have tried to paint the CIA’s acquisition of PROMIS as having happened well after Eitan’s theft of the software, it has since emerged that the Agency was offered a government copy of PROMIS as far back as 1981, thanks to a government memo obtained by Emma Best. Best wrote that, despite the CIA having denied buying the software:

This memo […] shows that the Agency was offered the PROMIS software along with a list of other pieces of government owned software and the hardware necessary to run them. Since CIA didn’t disclose this or search those records, it’s unknown if they acquired an initial copy of the software this way. Even if it did not, it undermines their claims to have fully cooperated and searched every reasonable record and Agency component as they didn’t search their software requisition records.

The Department of Justice also repeatedly stated that, aside from a notable exception, they didn’t provide copies of PROMIS to anyone else or distribute it throughout the government. These memos, however, show that the software was being offered throughout the federal government from the beginning, making versions of the software readily acquirable for anyone in the government to review or toy around with prior to Earl Brian and Edwin Meese’s scheme to defraud INSLAW while modifying (i.e. inserting backdoors) and distributing the software through the U.S. and overseas.46


This timeline muddles the conventional narrative and raises the possibility that the supposedly “dueling” versions serving Israeli intelligence and US intelligence were perhaps more inter-related and collaborative in nature as opposed to competitive, as some authors like Gordon Thomas have claimed. Ari Ben- Menashe, in an interview for this book, attested to the collaborative nature between both the Israeli and CIA’s version of PROMIS, with Robert Maxwell himself engaging in unspecified collaborations related to the CIA version of PROMIS.

The CIA version of PROMIS was modified by a man named Michael Riconosciuto, who altered the software at Cabazon Indian Reservation near Indio, California. At the reservation, Riconosciuto had worked for Wackenhut (now G4S Security), which – at the time – provided security for critical infrastructure and high security government facilities. Wackenhut, in 1981, had entered into a joint venture with the Cabazon Band of Mission Indians, which was focused on establishing a “production facility, called ‘Cabazon Arms,’ on the one square mile of Cabazon-owned desert land near Indio.”47 This joint venture was briefly discussed in the previous chapter. In speaking to author Cheri Seymour, Riconosciuto noted that the company’s board of directors was stuffed with former top figures in US intelligence and law enforcement. Riconosciuto corroborated to Seymour that he had been the one to modify PROMIS and he also fingered Earl Brian as the mastermind of the scheme. “A man named Earl Brian was spearheading a plan for worldwide use of the software, but essentially, the modified software was being pirated from the owners, Bill and Nancy Hamilton,” Riconosciuto had told Seymour.48 Riconosciuto alleges that he was targeted by the government after signing an affidavit to assist the Hamiltons’ case. In that document, he had stated his role in the modification of the PROMIS software.

The modification of PROMIS was hardly Riconosciuto’s first interaction with intelligence or even with Earl Brian. Per Seymour, Riconosciuto had been recruited by the CIA while at Stanford University and Riconosciuto “and Earl Brian had traveled to Iran in 1980 and had paid $40 million to Iranian officials to persuade them not to let the hostages go before the presidential election,” a scheme better known as the October Surprise (see Chapter 6).49 Per Riconosciuto, Brian’s role in the October Surprise was related to his theft of PROMIS. He later testified that the software “was stolen as a favor to software-company executive Earl Brian, a friend of Meese’s, for Brian’s help in persuading the Iranian government to hold on to the embassy hostages until the 1980 election was over.”50

Regardless of exactly when US intelligence developed and began using a bugged PROMIS, the software was subsequently developed for many uses, including on nuclear submarines of the United States and the United Kingdom and for tracking of nuclear material inventories and long-range ballistic missiles. However, one of the most unsettling uses of the software, on which both the US and Israel collaborated, was its use to keep track of dissident Americans.

This use of PROMIS was spearheaded by Oliver North. North had decided to turn PROMIS’ power against Americans, particularly perceived dissidents. Beginning in 1982, as part of the highly classified Continuity of Government (COG) program, North used the PROMIS software at a 6,100-square-foot “command center” in the Department of Justice, as well as at a smaller operations room at the White House, to compile a list of American dissidents and “potential troublemakers” if the COG protocol were to ever be invoked.51 According to a senior government official with a high-ranking security clearance and service in five presidential administrations who spoke to Radar in 2008, this was:

A database of Americans, who, often for the slightest and most trivial reason, are considered unfriendly, and who, in a time of panic might be incarcerated. The database can identify and locate perceived ‘enemies of the state’ almost instantaneously.52


In 1993, Wired described North’s use of PROMIS in compiling this database as follows:

Using PROMIS, sources point out, North could have drawn up lists of anyone ever arrested for a political protest, for example, or anyone who had ever refused to pay their taxes. Compared to PROMIS, Richard Nixon’s enemies list or Sen. Joe McCarthy’s blacklist look downright crude.53


The COG program defined this “time of panic” as “a national crisis, such as nuclear war, violent and widespread internal dissent, or national opposition to a US military invasion abroad,” whereby the government would suspend the Constitution, declare martial law, and incarcerate perceived dissidents and other “unfriendlies” in order to prevent the government’s (or then-serving administration’s) overthrow.54 This secretive database has often been referred to as “Main Core” by government insiders and it still exists today. Journalist Christopher Ketcham, citing senior government officials, reported in 2008 that, at that time, Main Core was believed to contain the names of as many as 8 million Americans.55 Since then, it is highly likely that the number of Americans included in the Main Core database has grown considerably.

Author and investigative journalist Tim Shorrock also covered other disturbing aspects of the evolution of Main Core back in 2008 for Salon and further noted that Main Core, at the time, was said to contain “a vast amount of personal data on Americans, including NSA intercepts of bank and credit card transactions and the results of surveillance efforts by the FBI, the CIA, and other agencies.”56

Bill Hamilton of Inslaw had told Shorrock at the time that he believed that “U.S. intelligence uses PROMIS as the primary software for searching the Main Core database” and had been told as much by an intelligence official in 1992 and an NSA official in 1995.57 Dan Murphy, former deputy director at the CIA, had told Hamilton that the NSA’s use of PROMIS was “so seriously wrong that money alone cannot cure the problem.” “I believe in retrospect that Murphy was alluding to Main Core,” Hamilton had told Shorrock.58

In 2019, citing a former US intelligence official with direct knowledge of the U.S. intelligence community’s use of PROMIS and Main Core from the 1980s to 2000s, I reported that Israeli intelligence played a role in the U.S. government’s deployment of PROMIS as the software used for the Main Core domestic surveillance database system.59 Per this source, Israeli intelligence remained involved with Main Core at the time of the August 1991 death of journalist Danny Casolaro. This same official told me that, shortly before his death, Casolaro had obtained copies of computer printouts from the PROMIS-based Main Core domestic surveillance database system from NSA whistleblower Alan Standorf, among other items. Standorf was found murdered a few months before Casolaro’s life-less body was discovered in a hotel room.60

The source also stated that Main Core’s contents had been used for the political blackmail of members of Congress and their staff, journalists, and others by Walter Raymond, a senior CIA covert operator in psyops and disinformation who served on President Reagan’s National Security Council after Main Core was created.61 If used for this purpose by Raymond in the 1980s, it is highly likely that Main Core has also been used by other individuals with access to the database for blackmailing purposes in the years since. In addition to their collaboration on Main Core, there is also the possibility that the CIA and Israel’s Lekem collaborated and shared at least some of the intelligence reaped from the different versions of PROMIS. As previously detailed, Israeli intelligence and the CIA were already collaborating on major aspects of Iran-Contra during this same period. Yet, these networks also appear to have been intimately involved with the sale of the PROMIS software themselves.

For instance, one connection of Iran-Contra to PROMIS can be seen in the visit Contra leaders made to Cabazon for weapons demonstrations, which was mentioned in the previous chapter. Another clear example of overlap is Robert Maxwell. Yet, another and arguably the most compelling evidence for the overlap can be found in a 1985 letter written by William Bradford Reynolds, Assistant Attorney General in the Civil Rights Division, to William F. Weld, then-the US Attorney in Boston. The letter told Weld that PROMIS (misspelled as Promise in the letter) was being provided to Sheik Khalid bin Mahfouz, a Saudi billionaire and banker who had owned a personal 20% stake in BCCI and was mentioned in connection with BCCI in Chapter 7.

That letter states the following:

Dear Mr. Weld: As agreed Messrs. Manichur [sic] Ghorbanifar, Adnan Khashoggi, and Richard Armitage will broker the transaction of Promise [sic] software to Sheik Khalid bin Mahfouz for resale and general distribution as gifts in his region contingent upon the three conditions we last spoke of. Promise [sic] must have a soft arrival. No paperwork, customs, or delay. It must be equipped with the special data retrieval unit. As before, you must walk the financial aspects through Credit Suisse into National Commercial Bank [which bin Mahfouz chaired]. If you encounter any problems contact me directly. Sincerely, WM. Bradford Reynolds, Assistant Attorney General Civil Rights Division.62


This letter implicates key figures involved in Iran-Contra weapons deals, i.e. Khashoggi and Ghorbanifar, as also selling PROMIS software for covert purposes. In this case, they were specifically selling it to a man tied to the banking industry, more specifically BCCI. As it turns out, the global banking industry was a major target of the bugged PROMIS software. As will be mentioned shortly, this was partially facilitated by BCCI and affiliated entities as BCCI was known to use PROMIS and had other connections to its illicit uses.

One of the key companies involved with the bugged PROMIS’ entry into the global financial system was tied to a major figure in BCCI’s entry into the American financial system, Jackson Stephens, discussed in the previous chapter as well as chapter 7. While Israel’s bugged version of PROMIS was being marketed worldwide by Robert Maxwell and his front companies, the CIA’s equivalent was marketed, in part, by the Jackson Stephens-owned Systematics.

Systematics was a data-processing company that, like other prominent Stephens-owned firms, was represented by the Rose Law Firm, which – as noted in the last chapter – had deep ties to the Clinton family and its political machinery. Two partners in the Rose Law Firm who would later serve in the Clinton administration, Vince Foster and Webster Hubbell, went on to acquire significant financial interests in Systematics through ownership in Alltel, which acquired Systematics in the early 1990s.63 Notably, Rose had also represented Systematics as part of a lawsuit related to the efforts of Jackson Stephens and others to bring BCCI into the American financial system. As noted in chapter 7, Systematics was a defendant alongside Jackson Stephens, another Stephens owned company Stephens Inc., Agha Hasan Abedi, Bert Lance, and Eugene Metzger relating to their hostile takeover attempt of FGB. Rose Law represented Systematics in this lawsuit. As was also noted in chapter 7, Stephens had been involved in BCCI’s affairs because he “wanted FGB to use a company he controlled, Systematics Inc., for its data processing business.”64

Unlike Maxwell’s fronts used to market PROMIS, Systematics was more focused on selling software and data-processing services to financial institutions than governments and intelligence agencies. Acquired by Stephens in the 1960s, Systematics primarily serviced banks and, by the 1990s, was “one of the leading vendors in the United States and, reportedly, in some 40 foreign countries, of computer software and services for the banking industry.”

According to former Forbes assistant editor James Norman in his book The Oil Card: Global Economic Warfare in the 21st Century, Systematics was also “a primary vehicle or front company for the National Security Agency in the 1980s and early 1990s to market and implant bugged software in the world’s major money-center banks and clearinghouses as part of the Reagan/Bush ‘follow the money’ effort to break the Soviets.”65 The late journalist Michael Ruppert and others have asserted that this “bugged software” was none other than the PROMIS software. Ruppert specifically cited Systematics as “a primary developer of PROMIS for financial intelligence use.”66

Norman, in his reporting which was censored by Forbes, alluded to the role of National Security Council member Norman Bailey in urging the involvement of the NSA in surveilling the flow of money through SWIFT, Fedwire, CHIPS, and other financial transfer mechanisms. In his censored report, Norman wrote that Bailey “confirms that within a few years the National Security Agency … had begun vacuuming up mountains of data by listening in on bank wire traffic. It became a joint effort of several Western governments with the Israelis playing a leading role.” Norman further noted that the NSA’s ability to spy on financial transactions was directly enabled by Systematics.

As will be discussed in greater detail in chapter 16, Norman had learned that one of the main individuals overseeing this NSA program for Systematics was Vince Foster of Rose Law and subsequently the deputy White House counsel during Bill Clinton’s first term until his death in 1993.

Yet, Norman’s censored report, later published in Media Bypass magazine, went even further and revealed that Systematics not only aided NSA surveillance of the financial system, it was also intimately linked to money laundering efforts:

Systematics has had close ties to the NSA and CIA ever since its founding, sources say, as a money-shuffler for covert operations. It is no secret that there were billions of dollars moving around in “black” accounts – from buying and selling arms to the Contras, Iran, Iraq, Angola and other countries to paying CIA operatives and laundering money from clandestine CIA drug dealing. Having taken over the complete computer rooms in scores of small U.S. banks as an “outsource” supplier of data processing, Systematics was in a unique position to manage that covert money flow. Sources say the money was moved at the end of every day disguised as a routine bank-to-bank balancing transaction.67


Norman also alleges that Jackson Stephens’ efforts to bring BCCI into the US were related to this situation:

Systematics’ money-laundering role for the intelligence community might help explain why Jackson Stephens tried to take over Washington-based Financial General Bankshares in 1978 on behalf of Arab backers of the Bank of Credit and Commerce International. BCCI’s links to global corruption and intelligence operations has been well documented, though many mysteries remain.

According to a lawsuit filed by the Securities and Exchange Commission, Stephens insisted on having then-tiny Systematics brought in to take over all the bank’s data processing. Representing Systematics in that 1978 SEC case: Hillary Rodham Clinton and Webster Hubbell. Stephens was blocked in that takeover. But FGB, later renamed First American, ultimately fell under the domination of BCCI through Robert Altman and former Defense Sec. Clark Clifford. According to a technician who worked at First American in Atlanta, Systematics became a key computer contractor there anyway.68


A 1995 document sent on behalf of Inslaw’s founders to then-independent Counsel Ken Starr by Inslaw lawyer Elliot Richardson supports several of Norman’s claims.69 That document states that Systematics had “covertly implanted [software] into the computers of its bank customers” that allowed “allied intelligence agencies surreptitiously to track and monitor the flow of money through the banking system” and had done so at “the behest of the U.S. National Security Agency (NSA) and its partner in Israeli intelligence.”70 Inslaw also stated that the software was used by these same intelligence agencies in the “laundering of money, especially drug profits.”

Systematics did, in fact, appear to have ties to Israeli intelligence, as Richardson asserts. The company was known to have a subsidiary in Israel that, according to a former Israeli intelligence officer, was operated by contractors for the Mossad and sold software to banks and telecommunications companies.71 According to Richardson’s letter, that Israeli subsidiary of Systematics also had a Massachusetts-based front company, which was partially owned by a former U.S. intelligence official named Harry Weschler. Furthermore, Systematics also had dealings with Israel’s PROMIS salesman par excellence, Robert Maxwell. According to Bill Hamilton of Inslaw as cited by Cheri Seymour, Systematics entered into a joint venture with Robert Maxwell, who was allegedly acting on Israel’s behalf. In that venture, Maxwell and Systematics sold bugged versions of PROMIS to five banks, most of which were Swiss.72 This again suggests that the “CIA version” of PROMIS was more of a complement to the “Israeli version” Robert Maxwell was best known for marketing, rather than a competitor. It also further hints at collaboration between Israeli and US intelligence for the purpose of placing backdoors into global financial flows.73

This focus on obtaining a secret window into the in and out-flows of the global banking system enabled not only the covert tracking of funds, but presumably allowed funds to be covertly hidden and financial crimes to be effectively covered up or rendered invisible. This was likely why BCCI employed the PROMIS software after its theft by the DOJ, as one of its subsidiaries, First American Bank, reportedly “filtered PROMIS money” (i.e., laundered the money generated from the sale of the stolen PROMIS software), according to the late journalist Danny Casolaro.74

Returning to the matter of Vince Foster, the Hamiltons of Inslaw have also provided considerable evidence that Foster’s distress prior to his 1993 death appears to have been related to concerns about litigation involving Systematics and PROMIS.75 James Norman, the previously mentioned journalist who was then writing for Forbes, reported in 1995 that Foster had been known to be under counterintelligence surveillance at the time of his death. Norman has also stated that it was suspected at the time that an adversarial government, allegedly the Chinese, had bought “high-level code, encryption, and other secrets via Foster’s Swiss bank account and Israeli banks” and that Forbes had declined to publish these allegations (and by extension Norman’s reporting on the matter) because, among other concerns, they didn’t want to make any public statements about Systematics’ role in the affair.76 As will again be noted in chapter 16, another assistant editor of Forbes at the time, alongside Norman, was the daughter of Harry Weschler, the former CIA official who partially owned the Israeli subsidiary of Systematics. Norman subsequently intimated that this connection played a role in the censoring of his reporting.

Vince Foster’s death, which many regard as suspicious despite it being officially labelled a suicide, is discussed in more detail in chapter 16, as the very event that marked one of Jeffrey Epstein’s earliest visits to the Clinton White House makes an odd appearance in Foster’s controversial “suicide note.”
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Re: One Nation Under Blackmail, by Whitney Webb

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Part 2 of 3

E-SYSTEMS

Another company that surfaces in the allegations surrounding Systematics and the Inslaw affair is E-Systems, a Dallas-based defense contractor specializing in computer software and systems. Authors James Norman and J. Orlin Grabbe have both discussed E-Systems as having a particularly close relationship with Systematics. However, the CEO of Alltel, a successor company to Systematics has denied that any such relationship exists.77 Among the claims made by Grabbe and Norman is that sensitive E-Systems computer code ended up in the hands of Israel a mere thirty days after it was first deployed by the NSA.78

While parsing out the details of the connections between E-Systems and Systematics is difficult, E-Systems did maintain a tight connection with another corporation located at the heart of the Inslaw affair: Wackenhut. William Raborn, who had served as director of the CIA under President Lyndon Johnson, joined the board of directors of Wackenhut in 1971.79 Press reports show that by at least 1977, he had also joined the board of E-Systems. Wackenhut annual reports illustrate that, for a time, he served on the board of these companies simultaneously.

E-Systems’ connections to the intelligence community are long-standing. The company began in the 1960s as LTV Electrosystems, a wholly-owned subsidiary of Ling-Temco-Vought (LTV), the Texas-based defense contractor that was then rapidly expanding due to military contracts related to the Vietnam War.80 As discussed in chapter 6, LTV shared multiple connections with First International Bancshares, the CIA-linked bank that George H.W. Bush joined in 1976. LTV Electrosystems held a major share of the defense contracts that LTV received, having been consolidated with another major LTV subsidiary, LTV Military Electronics Division.81 In 1972, LTV Electrosystems was spun off as an independent company, and rechristened as E-Systems under the leadership of John W. Dixon, its new president and chairman.

As the presence of William Raborn on its board shows, E-Systems maintained a cozy relationship with the CIA and other US intelligence agencies. E-Systems has attempted to keep this relationship under wraps, with much of the company’s projects shrouded under confidentiality agreements. Nevertheless, there have been occasions when the company’s intelligence ties have bubbled up to the surface. In 1994, for example, Washington Post journalist John Mintz wrote that:

CIA employees who are experts in high technology are “automatic hires” for the firm, a former CIA official said. “E-Systems made it a point to say, ‘When you retire, come work for us.” … “ESystems has one of the more unique relationships with the agency,” he added, calling it “chummy.”

A staff member of a congressional intelligence committee said E-Systems is “virtually indistinguishable” from the agencies it serves. “Congress will ask for a briefing from E-Systems, and the [CIA] program manager shows up,” he said. “Sometimes he gives the briefing. They’re interchangeable.”82


Among the known collaborations between E-Systems and the Agency included the construction of “ground stations in China” used to “eavesdrop on Soviet satellites in flight” – the information from which was then “shared with China.”83 In another notable instance, taking place in 1975, E-Systems purchased Air Asia, one of the CIA’s proprietary airlines that was hidden as a civilian-staffed aviation company.84 The sale garnered considerable controversy at the time as ESystems only paid $1.9 million for the front company, despite the fact that Air Asia’s net worth was calculated to be approximately $3.4 million at the time of sale.85

Several years later, in 1977, E-Systems became involved in Operation Condor, a DEA and US Customs supported Mexican government initiative to crack down on the ballooning drug trade. It was a completely different operation than the notorious South American operation of the same name.

On hand to support Condor was the CIA, with Evergreen International Aviation providing Mexican authorities with planes and pilots.86 That same year, Evergreen had absorbed Intermountain Aviation, a CIA proprietary airline, and placed the “former head of all CIA air operations” on its board of directors. ESystems was contracted to provide maintenance for Evergreen’s planes actively participating in Condor, a task no doubt related to the company’s wider contracts with US Customs for electronic technology and aircraft maintenance for drug interdiction purposes.87

Remarkably (and perhaps unsurprisingly), Condor was an abject failure, and it effectively allowed the drug trade to continue unabated. Where planes were supposed to be spraying herbicides on drug crops, the tanks were frequently found to instead contain water, while officials involved with the program had a tendency to shake down “drug cultivators in exchange for protection from spraying.”88

Tom Farer notes that Condor in fact encouraged the deepening centralization and concentration of the drug trade within a small handful of powerful cartellinked groups. “As a result of this of this policy initiative,” he writes, “the Mexican drug industry came under the control of entrepreneurial organizations that were fewer in number, stronger in resources, and more dangerous to society and government.”89 Chief among the drug traffickers that rose in prominence in this time was Felix Gallardo and his criminal associate, Juan Matta Ballesteros. As noted in chapter 7, both of these figures were linked to Contra support activities and, in the case of Matta, to CIA-linked aviation companies.

E-Systems may have also been linked to the activities of both Ted Shackley and his team and that of Robert Vesco in Libya. As discussed in chapter 6, a point of intersection between these two networks was the British company Lonrho, its infamous leader Tiny Rowland, and his right-hand man Edward Du Cann. To briefly recap: Du Cann, whose duties extended beyond Lonrho to act as a liquidator for the Vesco-looted Investors Overseas Services (IOS), sat on the board of a Lonrho freight subsidiary called Tradewinds, which was accused of running arms into Libya on behalf of Shackley’s close associate, Edwin Wilson. At this same time, Vesco was involved in a number of Libyan affairs, several of which blew back on the Carter administration – an administration despised by Shackley and a number of his “former” CIA colleagues. One of these was an attempt to get embargoed planes released to Libya, which included a number of C-130 aircraft.

At around this same time, E-Systems was in talks to update a number of C- 130s, located in Australia, that a group of individuals was attempting to sell to Libya.90 This group was led by L.T. “Bill” Ransom, head of a Texas-based aircraft broker firm called Global Jet Sales, and included Max Park of Parmax, Inc. (which shared addresses with Ransom’s Global Jet); Stanley Mann, a petroleum broker; and Admiral E.L. “Whitey” Feightner, an aviation consultant and retired military officer.91 Also involved was Jack Richards, an aircraft broker from Oklahoma City. Richards’ firm, Onyx Aviation, was later named during the Iran-Contra hearings as one of the firms that had provided aircraft for the Contras in Nicaragua.92

Ransom’s attempts to sell the C-130s to Libya ultimately fell apart, and it isn’t clear if E-Systems ended up working on the aircraft. The route the planes ended up taking, however, is still quite interesting. Aviation records show that a number of these planes passed from the hands of Ransom and Park to Ford & Vlahos, a powerful San Francisco law firm.93 The “Ford” in Ford & Vlahos was John Ford, who had ties to another aviation company, T & G Aviation, based in Chandler, Arizona.94 Chandler is a suburb of Phoenix roughly an hour’s drive from Marana, where the aforementioned CIA-linked Evergreen Aviation maintained its aircraft maintenance center.95 According to whistle-blower Gary Eitel (himself a former Evergreen pilot), T & G-owned aircraft “were doing work for Southern Air and Evergreen in Saudi Arabia and Abu Dhabi” that was disguised as contract work for Bechtel.96

From Ford & Vlahos, the C-130s ended up in a number of intriguing locations. Records show that a number ended up in the hands of an aviation concern owned by the Aboitiz family in the Philippines, who had grown particularly wealthy and powerful under the Marcos regime.97 Another was sold to AVIACO of Bogotá, Colombia, a company described in the press as part of the “‘air wing’ of the Colombian cartels,” having been “involved in [drug] smuggling since 1982.”98 Yet another ended up parked at Mena, Arkansas, before being bought by a Miami company, African Air Trans.99 This is the same C-130 that was discussed in the previous chapter, having been seized by Customs for arms trafficking violations. As discussed in that chapter, African Air Trans was itself a front for an “unnamed Israeli living in Panama.”

The question remains: was the initial attempt, which involved E-Systems, to sell these C-130s to Libya part of the broader calculus involving that country by Vesco, Shackley, and others? Answers to this question remain elusive, though there is one provocative tie that suggests these may all have been interrelated incidents.

Stanley Mann, the member of Ransom’s group that attempted the initial C- 130 sale, was closely connected to and had providing financing for Andrew Racz, the head of Racz International, a subsidiary of the Philips, Appel & Walden brokerage house in New York.100 Declassified US State Department cables show that Racz was also associated with Tiny Rowland (as well as Henry Kissinger), and had acted as a back-channel between the government and the Lonrho chief concerning African affairs.101

THE MAN WHO KNEW TOO MUCH

Not only was the PROMIS scandal linked with the US Department of Justice, the CIA, and Israeli intelligence, but major elements of organized crime could also be found in its web. For instance, one of the key figures involved in the PROMIS scandal was Robert Booth Nichols. Nichols served on the board of First Intercontinental Development Corporation (FIDCO) alongside Clint Murchison Jr., a business tycoon with organized crime connections; and Robert Maheu, the private investigator who was an intermediary between the CIA and organized crime and who author Lisa Pease has linked to the 1968 assassination of Robert F. Kennedy.102 Maheu was FIDCO’s vice president while Nichols was the company’s Senior Vice President and Chairman of the Investment Committee.103 FIDCO, per Riconosciuto, was “an NSC [National Security Council] corporate cut-out […] created to be the corporate vehicle to secure the financing for the reconstruction of the cities of Beirut and Damour in Lebanon.” Riconosciuto further alleged that, in his dealings with FIDCO in the Middle East, he “came in contact with the PROMIS software” via a system from “IBM Tel Aviv.”104

In 1981, Nichols formed Meridian Arms with a man named Peter Zokosky. Meridian would later join Wackenhut in its Cabazon-related activities. Michael Riconosciuto had also been Meridian’s vice president on the board of directors alongside Nichols and Zokosky for a brief period.105 Meridian Arms was a subsidiary of Meridian International Logistics, and that company’s board of directors included Nichols, Zokosky and Eugene Gianquinto. Gianquinto was notably the president of the Home Entertainment Division of MCA, the entertainment giant that was later acquired by the Bronfmans’ Seagram Company and reincorporated as Universal Studios. One of MCA’s top executives, as noted in chapter 1, was Lew Wasserman, who was deeply connected to organized crime, particularly through Moe Dalitz, and was largely responsible for Ronald Reagan’s political career.106 When Reagan took office, the Department of Justice had been probing MCA’s ties to organized crime, but – thanks to help from Reagan’s Attorney General Ed Meese – the probe was squashed. The Wasserman-Reagan relationship and Wasserman’s organized crime ties are discussed in more detail in the next chapter. Another member of the MCA board at this time, Senator Howard Baker, would also later “advise” Robert Maxwell about his entry into New York in the early 1990s, alongside John Tower and Robert Keith Gray. Baker was also a business partner of Maxwell’s at that time (see Chapter 15 for more).107

According to Cheri Seymour, both Gianquinto of MCA and Nichols of Meridian “had a close working relationship with the Justice Department” and Gianquinto, in a recorded FBI wiretapped conversation referenced by Seymour, took credit for contacting Meese to have the DOJ’s MCA-organized crime probe quashed in the early 1980s.108 One of the special prosecutors for the Justice Department who had worked on the MCA case, Richard Stavin, obtained documents that identified Nichols as “a money launderer with ties to the Gambino crime family and the Yakuza [ Japanese organized crime].”109

Per Seymour, Nichols also had ties to Ferdinand Marcos of the Philippines, having “reportedly laundered between $50-200 million” on his behalf.110 Nichols was also investigated by the FBI in the late 1970s for money laundering for Marcos as well as drug smuggling.111 That investigation also found evidence that Nichols had also sold weapons to the Marcos government and other foreign governments. Much of his money laundering activities, including those on behalf of the Marcos family reportedly involved the Swiss banking system. The FBI found that Nichols had claimed to have had access to “highly sophisticated computers in Switzerland with detailed information on a number of subjects,” suggesting that Nichols may have been using PROMIS as part of his Swiss laundromat.112

Nichols, according to the FBI report, had also claimed “to have highly placed sources in numerous foreign government agencies which can detect any investigation initiated against him. One of these individuals was supposedly a United States Senator with much seniority whom Nichols claimed to utilize in the trafficking of narcotics and money laundering.”113 Given that Nichols, via Eugene Gianquinto, was just one degree of separation from Senator Howard Baker, who was also on the board of the organized crime-linked MCA and later engaged in suspect business activities with Robert Maxwell, the Tennessee senator seems like a potential suspect.

Nichols also loomed large in the tragic fate of journalist Danny Casolaro. Casolaro had been investigating an international crime syndicate he termed “the Octopus” at the time of his death in 1991. Casolaro believed that this “Octopus” involved powerful individuals in the private and public sectors as well as the criminal underworld and that they were collectively responsible for some of the biggest scandals of the 1980s, including Iran-Contra, BCCI and the theft of the PROMIS software.

“Dan dealt in this nebulous, shadowy world,” Dick O’Connell, a friend of Casolaro’s and publisher of Washington Crime News Services said in mid-August 1991 to the Associated Press. “He was saying ‘they’ took that INSLAW software and sold it overseas and took the profits from that and turned it into arms for the Contras.… That’s what he was working on and he told me he thought BCCI was the conduit for all of these money transactions.”114

Cheri Seymour notes that Casolaro’s work on “the Octopus” had “encompassed the October Surprise story, the Inslaw computer software case, the Iran/Contra affair, the BCCI scandal, and MCA entertainment corporation, all overlapping and interconnecting into one network.” Before his death, Casolaro had called this network “a dirty CIA ‘Old Boy’ network” that, per Seymour, “had begun working together in the 1950s around the Albania covert operations. These men had gotten into the illegal gun and drug trade back then and had continued in that business ever since.”115

Shortly before his death, Casolaro had told friends and family that he was close to concluding his investigation. Several people close to him had seen documents involving money transfers involving BCCI and the World Bank to people involved in these scandals, such as Earl Brian and Adnan Khashoggi.

In July 1991, something strange happened and Casolaro suddenly became “somewhat alarmed.” It appears to have been a threat from Robert Booth Nichols, who had initially been a source for Casolaro, before warning him “If you continue this investigation, you will die.” Casolaro, later that same month, learned from former DOJ special prosecutor Richard Stavin that Nichols was deeply enmeshed in organized crime networks as well as intelligence networks.116

Shortly thereafter, on August 5th, 1991, Michael Riconosciuto contacted Bill Hamilton and asked him to use his sources to dig up info on a man named Mike Abbell.117 Abbell had worked at the Department of Justice in the early 1980s, where he was director of the Office of International Affairs before going into private legal practice.118 Hamilton ultimately passed the task of investigating Abbell over to Casolaro, who contacted his own sources about ties between Abbell, Robert Booth Nichols, and Gilberto Rodriguez, an early leader of the Cali cartel. The Cali cartel’s connections to Contra support efforts and to E-Systems were discussed in chapter 7 and earlier in this chapter, respectively. Years later, in 1994, Abbell’s law offices were raided by the FBI in connection with an investigation to Cali cartel money laundering and Abbell was subsequently charged and convicted for being directly involved in the cartel’s activities.119

The following day, Casolaro traveled to Martinsburg, Virginia, to meet with some sources to get the final piece of the puzzle and “bring back the head of the Octopus.” Two days after arriving in Martinsburg, Casolaro was found dead in his hotel room and his briefcase full of his research notes and evidence was missing. His death was ruled a suicide.

Many, including Casolaro’s family, do not believe that Casolaro committed suicide. A week before his death, Casolaro told his brother he had been receiving death threats and the manner in which he died, deep slashes in his arms, was not consistent with Casolaro’s well-known squeamishness around even minor amounts of blood. Speculation only grew following the FBI investigation, given that the FBI lied to Congress, pressured its own agents not to question whether it was a suicide, and lost 90 percent of its files related to Casolaro’s death – among other glaring inconsistencies.120

In a 1994 letter provided to me in 2019 by Inslaw Inc., Inslaw lawyer Charles Work told then-Assistant Attorney General John Dwyer that one of Inslaw’s confidential sources in government had stated that Casolaro had been injected with a substance that deadened his nerves from the neck down, explaining the apparent lack of struggle on Casolaro’s part, and that the substance used had come from the US Army inventory.121

The person who had arranged Casolaro’s final meeting before his death was a US military intelligence officer named Joseph Cuellar. Prior to Casolaro’s death, Cuellar had promised to arrange a meeting between Casolaro and Peter Videnieks, “a Department of Justice contracting official with responsibility for the PROMIS software” who was a close associate of Earl Brian.122 Videnieks, before joining the Department of Justice, had previously worked as a contracting officer at US Customs during the years of Operation Condor and was in a position where he could have handled contracts related to E-Systems and Evergreen International.

The same year that Casolaro died, there were several other suspicious deaths involving people directly connected to the PROMIS scandal or involved in Casolaro’s investigation of “the Octopus” – including Alan Standorf, one of Casolaro’s sources;123 Robert Maxwell, father of Ghislaine Maxwell and the intelligence-linked salesman of the bugged PROMIS software;124 and John Tower – the former Texas senator who assisted Maxwell in selling the bugged PROMIS software to the Los Alamos laboratories.125 Other aspects of Robert Maxwell’s death are dealt with in Chapter 15.

Around this same time, the PROMIS scandal or Inslaw Affair itself became too unruly, especially after several Congressional investigations concluded wrongdoing by the Justice Department and called for a special prosecutor to be appointed. That appointment was made by none other than the then-Attorney General under George H.W. Bush, William Barr. As previously mentioned in Chapter 8, Barr had not only had an alleged role in major aspects of Iran-Contra under the alias Robert Johnson, but he had begun his career at the CIA. As will be discussed in Chapter 11, Barr’s employment with the CIA overlapped with his father’s decision to hire Jeffrey Epstein at the Dalton School, which would prove essential in Epstein’s rise to prominence in these same networks.

Early on, Barr essentially stonewalled Congress by denying Congressmen access to “privileged” documents related to PROMIS and Inslaw Inc., much like he had done years earlier when he stonewalled the Church Committee on behalf of the CIA. As a result, a Congressional hearing was held in December 1990 on Barr’s continued refusal to make the documents available.126 After considerable political pressure, Barr moved to appoint a special counsel to “investigate” the Inslaw affair, appointing a retired judge from Chicago named Nicholas Bua to serve in that role in September 1992.127 Bua authored a 267-page report, which he completed in early 1993, that claimed to find no credible evidence to support the Hamilton’s allegations and the report has been widely criticized as a “whitewash” of the whole situation.128

After Inslaw’s Bill Hamilton distributed Inslaw’s heavily detailed rebuttal of the “Bua report” to members of House Judiciary Committee, Congressmen Jack Brooks (D-TX) and Charlie Rose (D-NC) attempted to force an investigation of the Justice Department as it related to PROMIS as well as an investigation into the death of journalist Danny Casolaro and the payment of reparations to the Hamiltons. Despite their best efforts, and the continued efforts of the Hamiltons through the decades, the PROMIS scandal, Casolaro’s death, and other matters that swirl around the entity Casolaro called “the Octopus” remain largely uninvestigated by the federal government (and most of mainstream media) to this day.

CDC AND TECH TRANSFERS

As previously mentioned, prior to Casolaro’s death, those close to the journalist had seen documents involving money transfers involving the World Bank to people involved in these scandals, such as Earl Brian and Adnan Khashoggi. In addition, it was reported by economist and author J. Orlin Grabbe that this particular version of PROMIS in use by the World Bank was being used to track wire transfers “in connection with a money-laundering operation that went from BCCI London through the World Bank and into Caribbean institutions.”129

The role of the World Bank in the PROMIS scandal has been largely unexplored. However, the trail left by the company that managed PROMIS for the financial institution, Control Data Corporation, itself leads to a different, yet parallel operation involving technology transfers to the Soviet Union. Both Robert Maxwell and, subsequently, the Gouletas family, close associates of Jeffrey Epstein, would have their own run-ins with the company.

Control Data Corporation was originally formed in 1946 under the name Engineering Research Associates (ERA). ERA had been created by a group of engineers who had worked for a wartime Naval division involved in code-breaking and cryptography called the Communications Supplementary Activity. The core ERA team eventually broke away from the original company and formed Control Data Corporation (CDC) in September 1957. From the beginning, CDC was a major defense contractor.

During the 1970s, CDC computers were installed at Sandia National Laboratories, which would become the target of Robert Maxwell’s marketing of PROMIS roughly a decade later. CDC had developed special code expressly for the products it sold to Sandia, which – as previously mentioned – dealt with aspects of the US nuclear program.130 CDC computers, also containing specially designed code, were also present at Oak Ridge Laboratories, which also played a role in development of the nuclear program.

CDC also had a long-standing relationship with the Soviet Union’s nuclear laboratories and facilities during this same period. Congressional hearings from the mid-1970s revealed that:

In 1968, a second-generation Control Data Corporation 1604 system was installed at the Dubna Soviet Nuclear Facility near Moscow. In 1972 [CDC] sold the Soviet Union a third-generation CDC 6200 system computer. For these systems, [CDC’s] operating statement had improved by about $3 million dollars in the past three years. And the Soviet Union has gained 15 years in computer technology.131


As seen here, CDC’s business in the USSR raised concerns that the company was engaging in technology transfers to the United States’ ostensible arch-enemy at the height of the Cold War. Such concerns would continue to follow the company for decades.

Around this same period, in the early 1970s, CDC acquired the Commercial Credit Corporation (CCC), which had nearly gone bankrupt during the calamitous bankruptcy of Penn Central in 1970. That bankruptcy, the nation’s largest until the collapse of Enron several decades later, is discussed in greater detail in the next chapter.132 In the years that followed, CDC and its newly acquired subsidiary CCC would become involved with the networks of Shackley’s “private CIA” and “rogue” CIA agent (and alleged sex blackmailer) Edwin Wilson.

As previously detailed in Chapter 7, CCC played a key role in the creation of Global International Airways, a company created in the late 1970s by Farhad Azima, an Iranian businessman reportedly tied to Iran’s pre-revolutionary intelligence service – SAVAK. That airline had been launched with the aid of a “multi-million dollar loan from the Commercial Credit Corporation” and was allegedly tied to Shackley’s network as well as Air America (known by this time as Southern Air Transport). Global International Airways had worked with EATSCO, the company tied to the Shackley-Cline “Private CIA” network that served as a “middle man” in arms deals.

Also noted in Chapter 6 is the fact that CDC itself, around 1976 or so, had directly hired Edwin Wilson as a consultant with the hopes that Wilson’s contacts could help the company “unload some outdated computers on Third World countries.” However, CDC appears to have leveraged Wilson’s abilities for much more, as the “rogue” CIA agent was accused of bugging the US Army’s Materiel Command on behalf of the company. Considering these associations and activities, CDC was likely much more than just a computer company and its public claims that the company was not involved in illicit, high-technology transfers to the Soviet Union seem dubious at best.

After the aforementioned Congressional hearing in 1974, CDC made an apparent move at increasing its role in technology transfers, despite political concern. By the late 1970s, they had established a new subsidiary called Worldtech, described in the press as “a division of Control Data Corp that does research and consulting on, and brokering of, technology transfers.”133

Once Worldtech was established by CDC, it entered into a joint venture in 1979 with Greek publisher George Bobolas that was called Worldtech Hellas Ltd., where 70% was owned by Bobolas and 20% was owned by CDC. The owner of the remaining 10% was not disclosed in reports at the time.

A 1979 letter from one of Bobolas’ companies to A. Afonin, identified as a “representative of the State Committee for Foreign Economic Relations of the USSR Council of Ministers,” proposed the creation of a “joint development company using Worldtech for ‘world-wide technology transfer’ and stressed that ‘Worldtech Hellas Ltd. will give a lot of help’ to ‘technology transfer on an international base.’”134 After journalist Paul Anastasi published information about Bobolas and called him a “KGB agent of influence,” one of his companies, Bobtrade, asserted that “no improper transfer of high technology was involved,” while CDC moved to dissolve their partnership, likely due to bad publicity.135

Around the time that Worldtech was being created, CDC’s then-executive vice president, Robert D. Schmidt, was part of the American Committee on USSoviet Relations (ACUSR, previously the American Committee on East-West Accord). Other members at the time, specifically in 1977, included Robert Maxwell’s lawyer and confidant, Samuel Pisar (stepfather to future US Secretary of State Anthony Blinken), as well as Thomas Watson Jr. of IBM, who would become US ambassador to the Soviet Union in 1979.136 Another member was Paul Ziffren, previously discussed in Chapter 1 as a major figure in the organized crime networks that ran through Hollywood, including those tied up with Lew Wasserman and MCA. Ziffren’s and Wasserman’s families would later intermarry.

By the mid-1980s, Occidental Petroleum executives Armand Hammer and William McSweeney would also join the ACUSR. ACUSR member Samuel Pisar also represented Hammer’s business interests. As previously mentioned in Chapter 7, Hammer served as a back channel between the Americans and the Soviets and had been involved in the entry of BCCI into the US financial system. Also noted was the fact that he had originally sought to acquire FGB himself for the purpose of financially blackmailing US politicians. It is also worth mentioning again that Hammer’s father, Julius Hammer, had once served as a Soviet spy.137

Another member of the ACUSR was Joseph Filner, president of Noblemet International (later Newmet Corporation). Filner was extensively involved in USSR-US tech transfers. Filner’s Noblemet created a joint venture for the purpose of tech transfers, which was called Multi-Arc. By 1984, CDC’s Worldtech had become “a worldwide marketing representative for Multi-Arc.”138

CDC would later recruit Minnesota governor Rudy Perpich after Perpich lost his re-election campaign in 1979. Perpich, a dentist by training, would specifically work for CDC overseas as “vice president and executive consultant to Control Data Worldtech Inc.”139 The New York Times, reporting on his hire by CDC in January 1979, stated that Perpich was expected to be based in Yugoslavia, but he said he could find himself in Hungary, Bulgaria or Rumania [sic].”140 Robert Maxwell was also intimately involved with tech transfers in Eastern Europe, specifically in Bulgaria, which is discussed at the end of this chapter. Perpich, after working for Worldtech, would win another term as Minnesota’s governor in 1983.

CDC would also recruit another influential politician, Walter Mondale, who was hired by CDC right after he left office as Jimmy Carter’s vice president. CDC hired Mondale as a legal consultant and retained his services for $2,000 per month (about $6,360 in 2022 dollars).141 Simultaneously, Mondale was also a consultant to Allen & Co, the company of the organized crime-linked Charles and Herbert Allen mentioned throughout this book. Mondale was not only a consultant to, but also a close friend of the Allen brothers. The Allen brothers also worked closely with organized crime interests as well as Leslie Wexner’s “mentors” Max Fisher and Alfred Taubman (discussed in detail in chapter 13). As previously mentioned earlier in this chapter, Allen & Co. had a close business association with Earl Brian and had financed one of his attempts to buy out Bill Hamilton’s Inslaw.

By 1983, CDC was providing its services to the World Bank’s computer center and, that same year, the PROMIS software was found to be in use at that specific facility to keep track of wire transfers of money. This is according to a sworn statement that Inslaw Inc. obtained from David McCallum in 1995. In 1983, McCallum was working for CDC at the World Bank.

In my correspondence with Inslaw’s Bill Hamilton, he stated the following: “According to an article in the International Banking Regulator dated January 17, 1994, U.S. Justice Department officials delivered the VAX version of PROMIS to the World Bank in 1983. The World Bank, as an international institution, is outside the reach of discovery of the U.S. courts. For its part, the World Bank declares that it has been unable to find any evidence that it ever possessed the VAX version of PROMIS.”142 Hamilton also relayed that he had once been informed of a connection between CDC and PROMIS that involved the Deputy Attorney General under Ed Meese, D. Lowell Jensen. However, he could no longer remember the specifics of that connection.

As previously mentioned, among the connections Danny Casolaro revealed to those close to him in the days and weeks before his death, he had specifically mentioned the World Bank. There was talk specifically about money transfers involving BCCI and the World Bank to individuals such as Earl Brian and Adnan Khashoggi. Given that the documentation of those transfers mysteriously disappeared from Casolaro’s hotel room at the time of his death, CDC’s apparent involvement with the World Bank’s use of PROMIS takes on increased significance.

Also significant is the role CDC played during the 1990 visit of Mikhail Gorbachev, the then-leader of the Soviet Union, to the United States. During that trip, Gorbachev visited CDC headquarters alongside Rudy Perpich as well as Robert Maxwell. The Gorbachevs arrived in Minnesota immediately after a summit meeting in Washington with then-President George H.W. Bush.143

According to a report from the Minnesota Historical Society:

Gorbachev most likely agreed to the visit [Minnesota] because several Minnesota-based corporations – especially the computer firm, Control Data Corporation – had long done business in the Soviet Union. When the corporation’s officials learned that Gorbachev was interested in a post-summit tour, they passed the word to Perpich, who had worked for Control Data between his two terms as governor. Albert Eisele, who had been a consultant for Control Data and, earlier, was Vice President Walter Mondale’s press secretary, drafted the governor’s letter inviting the Gorbachevs. Former Control Data CEO Robert Price personally delivered the letter to the Soviet embassy on February 26, 1990.144


During the visit, Gorbachev attended a lunch at the governor’s mansion, where Robert Maxwell and Rudy Perpich joined groups of Soviet and American officials. One of the American officials present was Condoleezza Rice, the future Secretary of State who was then a National Security Council staff member. Afterwards, there was a press conference where Robert Maxwell, in characteristic bombastic fashion, “announced that he would donate $50 million to help create a private research institution to be called the Gorbachev-Maxwell Institute of Technology.” Maxwell said that the donation was “contingent on Perpich raising matching funds.”145 The institute was never launched.

After visiting Minnesota, Gorbachev next visited Silicon Valley, where he spent the week “trying to perfect the art of winning acceptance and investment from the captains of capitalism.” A Washington Post article on his visit quoted John Sculley, then-head of Apple Computers as saying, “I think Gorbachev got to us… We’ll all be thinking about business with the Soviet Union in a way we wouldn’t have if he hadn’t come.”146
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