TY - JOUR
AU1 - Whitby, David
AB - 22 DAVID WHITBY similarly constrained, but for different reasons, from examining the extreme ease with which funds associated with arms and drugs trafficking – often inter-related – can be moved around the world through the banking system, without detection. This was BCCI’s particular speciality. On the 4th of August 1989, just one year before the Iraqi invasion of Kuwait, the FBI raided the hitherto anonymous Atlanta, Georgia, branch of BNL (Banca Nazionale del Lavoro – Italy’s largest bank). They discovered what was, until overtaken by the BCCI case, the most substantial case of bank fraud in U.S. history. BNL’s Atlanta branch, managed by the resourceful Christopher Drogoul , was found to have extended $270 million in “credits” backed by the US Agricultural Department’s guarantees program, and a fur- ther $4 billion in unsecured loans to Iraq. Likewise, through their London broker (Capcom), and BNL’s branch in Atlanta, BCCI laundered billions of dollars for Saddam Hussein’s war machine, trading in commodity futures and “derivatives,” moving funds into diverse accounts in Switzerland and other offshore banking centres. The main conduits for these transactions were the Banque de Commerce et de Participations (“BCP”) in Zurich, controlled by Dr Alfred Hartmann , and 
TI - Conspiracy and cover-up
JF - Crime, Law and Social Change
DO - 10.1023/A:1011232429772
DA - 2004-10-09
UR - https://www.deepdyve.com/lp/springer-journals/conspiracy-and-cover-up-QvQx8qg7s8
SP - 21
EP - 41
VL - 35
IS - 2
DP - DeepDyve
ER -