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---
tags:
- Organization
- Private
- Finance
- Europe
---
[[Banque Worms]] was a bank in [[Geneva]], [[Switzerland]], that played a role in the financial transactions related to [[Israel|Israeli]] arms sales to [[Iran]] and the release of [[USA|American]] hostages.[^1]
In April 1980, [[Sayeed Mehdi Kashani]] opened a numbered account at [[Banque Worms]] and deposited $270,000 for the purchase of tires from [[Israel]]. This marked the beginning of the extra-budgetary [[Likud Party]]/intelligence community slush fund.[^1]
In December 1980, $40 million in bank checks, part of a $56 million payment for the release of [[USA|American]] hostages, were drawn on [[Banque Worms]]. [[Ari Ben-Menashe]] deposited $52 million of this money into [[Sayeed Mehdi Kashani|Kashani's]] safe deposit box at [[Banque Worms]]. The remaining $4 million was deposited into [[Earl Brian|Earl Brian's]] account at [[Valley National Bank of Arizona]].[^1]
Profits from the sales of tires and wheelbases to [[Iran]] ($956,000) were also deposited into [[Banque Worms]] to initiate the slush fund. [[Ari Ben-Menashe]] later opened a special account at [[Banque Worms]] for these profits.[^1]
### Footnotes
[^1]: Ben-Menashe, Ari. *Profits of War: Inside the Secret U.S.-Israeli Arms Network*. TrineDay, 1992. (Hereafter, "Profits of War")