disinfozone/The_Info_Web
1
0
Fork 0
Code Issues Pull requests Projects Releases Packages Wiki Activity Actions

BCCI research and Narratives

Browse source
This commit is contained in:
disinfo.zone 2025-08-05 14:25:00 -04:00
parent 2dffe9e0bb
commit ff92cadda4
24 changed files with 434 additions and 94 deletions
Download patch file Download diff file Expand all files Collapse all files

23
20 - ORGANIZATIONS/PRIVATE/First American Bank.md Normal file
View file

@ -0,0 +1,23 @@
---
tags: ["Organization", "Bank", "BCCI"]
---
First American Bank was a bank based in [[Washington, D.C.]], which became secretly owned and controlled by the [[Bank of Credit and Commerce International|BCCI]].[^1]
### Acquisition and BCCI Control
First American Bank was acquired by Middle Eastern investors connected with BCCI in 1981, following the acquisition of [[Financial General Bankshares]].[^1] [[Clark Clifford]] and [[Robert Altman]] served as BCCI's chief American counsel and later as chairman and president of First American Bank, respectively.[^1] They were instrumental in concealing BCCI's secret ownership through a network of nominees and fraudulent loans.[^2]
BCCI used nominees to secretly purchase shares in [[Credit and Commerce American Holdings|CCAH]], the holding company that owned First American Bank.[^3] The bank's assets grew significantly, but it also faced deepening financial woes due to a disastrous real estate portfolio.[^4]
### Legal and Regulatory Scrutiny
The [[Central Intelligence Agency|CIA]] issued a report in 1986 stating that BCCI had owned First American Bank since 1982.[^1] The [[Federal Reserve Board]] later fined BCCI $200 million for illegally acquiring control of First American Bank, along with [[National Bank of Georgia]] and [[CenTrust Savings Bank]].[^1]
In July 1992, Clifford and Altman were indicted by a [[New York]] grand jury on charges of bribery and fraud related to their involvement with BCCI and First American Bank.[^1]
## Footnotes
[^1]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 8-14.
[^2]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, pp. 192-194.
[^3]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 141.
[^4]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 134.