I am shocked by this article from TIME Magazine Apr. 1, 1991
BUSINESS
Masters Of Deceit
How the men behind an audacious bank expanded it via global duplicity, touching Jimmy Carter, Arab sheiks and Manuel Noriega along the way
By JONATHAN BEATY AND S.C. GWYNNE WASHINGTON.
time.com
The Lance connection eventually led to Jimmy Carter. When he left office, Abedi lent him B.C.C.I.'s corporate jet to replace Air Force One, donated $500,000 to help establish the Carter Center at Emory University in Atlanta, and began pumping donations into Carter's Global 2000 Foundation, which provided health care in the Third World. Sources close to B.C.C.I. say Abedi gave "millions" to the charitable project. Carter spokesmen would not confirm the amount but conceded that B.C.C.I. gave $1.5 million last year (the former President was not available for an interview on the subject of Abedi). That gift was accepted after B.C.C.I. was indicted and convicted for laundering drug money, but Carter has indicated that Abedi remains a friend.
ALSO IN THIS ISSUE
Apr. 1, 1991
Table of Contents »
Index: April 1, 1991 Vol. 137 No. 13
Search inside this issue:
Business
Business Notes
AIRCRAFT: The Buddy System
Business Notes
COMPETITIVENESS: Can This War Be Won?
Business Notes
GAMBLING: A Tale of Two Cities
Business Notes
LITIGATION: Victory for A Video Voice
Business Notes
WALL STREET: A Bad Case Of the Blues
Masters Of Deceit
How the men behind an audacious bank expanded it via global duplicity, touching Jimmy Carter, Arab sheiks and Manuel Noriega along the way
Piercing The Scam's Heart
Nation
American Notes
CRIME: Death on the Home Front
American Notes
POLLUTION: Now They Tell Us!
American Notes
TRIALS: Be It Ever So Humble . . .
American Notes
WEATHER: California Streamin'
Back to The Beat
As an antidote to police abuses and street crime, many cities are sending cops into communities to protect, serve -- and often befriend -- local residents
Cover Stories: Rough Justice
After the outrage in Los Angeles, police find themselves on trial as Americans are worried that some officers may be going too far -- much too far -- in the midst of a brutal and brutalizing war
GRAPEVINE
Here Come the Cubans, Part 2
GRAPEVINE
It's Just Not Genteel to Spit
Law And Disorder
For cops, fear and frustration are constants. Sometimes even the best of them snap under the pressure.
Murders They Wrote
Passion, envy and genius combine in a trio of true-life crime dramas that seem ready-made for TV
GRAPEVINE
Stop Us Before We Vote Again
The Common Man's Tax Cut
Rebuffed last fall, Moynihan revives his plan to reduce Social Security levies for middle- and lower-wage earners
GRAPEVINE
The Drug Dog All-Star Squad
GRAPEVINE
The G.O.P. Hit List
The Political Interest Gates: The Buck Doesn't Stop Here
GRAPEVINE
There's No Place Like Jail
GRAPEVINE
White House To IRS: Hands Off The Rich
World
Britain Trimming Around the Edges
Major kills Thatcher's poll tax and changes the tone of policy, but her philosophy goes marching on
Foreign Aid: Good Intentions, Woeful Results
How an ambitious environmental program ended up damaging the tropical rain forests
In From The Cold
Iraq Getting Their Way
The Kurdish revolt shakes Saddam, contributing to his decision to form a new Cabinet, and raises the question, Does the country face a breakup?
Middle East: Does Land Still Buy Security?
A debate rages on whether Israel could safely return even a demilitarized Golan Heights to Syria
Military Strategy: How Moscow and Beijing Lost the War
The allied victory is a sobering lesson for the world's two largest armies. It may be a prohibitively costly one.
Soviet Union Gorbachev's Nightmare
What if Boris Yeltsin becomes the first elected president of the Russia republic, the biggest and wealthiest of them all?
Science
Mexico City's Menacing Air (Environment)
The shutdown of a refinery will only begin to curb a toxic cloud
Thin Skins and Fraud at M.I.T.
A famed researcher backs away from a discredited paper
Health & Medicine
Forging A Shield Against AIDS (Medicine)
Vaccines are in the works, but how should they be tested and who should pay?
Press
A Fresh Take on Fashion
Mirabella woos readers with an eclectic menu of offerings that mixes culture and business with women's other concerns
Sport
Bo Knows Pain -- and Dismissal
The best-known two-sport athlete in the U.S. is out for a year, and perhaps forever, because of a football injury
Also In This Issue
Academics In Opposition (Ideas)
Time Magazine Contents Page (Contents)
Vol. 137, No. 13 APRIL 1, 1991
Time Magazine Masthead (Masthead)
Vol. 137, No. 13 APRIL 1, 1991
Upside Down in the Groves of Academe (Ideas)
In U.S. classrooms, battles are flaring over values that are almost a reverse image of the American mainstream. As a result, a new intolerance is on the rise.
Law
Weighing Some Heavy Metal
The Supreme Court rules that potential health risks to a fetus are no excuse to discriminate against women in the workplace
Arts & Entertainment
Art And Terror in the Same Boat (Music)
The Death of Klinghoffer avoids politics but takes no prisoners
Critics' Voices (Critics' Voices)
Hollywood Dances with Words (Show Business)
Books are coming off the shelves and onto the screen. Are producers seeking more complexity, or just tidy packages?
Revenge of The Nerd (Video)
Neighborhood pest Steve Urkel makes Family Matters fly and gives the Miller-Boyett team yet another comedy hit
To Our Readers
From the Publisher (From The Publisher)
Essay
ESSAY
A Moment for the Dead
Original section names from the magazine appear in gray text in parenthesis beside the article's
Apr. 1, 1991 Subscribe below to instantly access this article - and over 30,000 articles in the TIME Archive. Your unlimited access will remain free during your paid subscription to TIME magazine.Investigators say it is one of the most powerful and corrupt banks they have ever encountered. The shadowy $30 billion offshore enterprise called Bank of Credit & Commerce International made headlines briefly when it was convicted of laundering drug money in the U.S. last year, but its story came home with shocking force to most Americans more recently. B.C.C.I., investigators have found, has for years secretly owned the largest bank in Washington, First American Bankshares, despite a decade of denials by one of the city's most respected figures, lawyer and First American chairman Clark Clifford. Bad...
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