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The_Info_Web/10 - PEOPLE/(A-G)/Abbas Gokal.md

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BCCI Scandal
Person
BCCI
Abbas Gokal was one of the Gokal brothers who ran the Gulf Group, a London-based shipping company. 1936 Karachi, Pakistan

Abbas Gokal was one of the Gokal brothers who ran the Gulf Group, a London-based shipping company.1

Role in BCCI Operations

Abbas Gokal was used as a front by Bank of Credit and Commerce International in 1975 in an attempt to acquire Chelsea National Bank in New York City.2 Regulators rejected this bid due to concerns about BCCI's involvement.2

The Gulf Group, run by the Gokal brothers, was believed to be BCCI's largest debtor, with loans topping out at $831 million in 1990 that were never repaid.3 The Gokal brothers' shipping empire was built with BCCI money.3

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. 9. ↩︎

  2. Beaty, Jonathan and Gwynne, S. C. The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI. New York: Random House, 1993, p. 11. ↩︎

  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. 140. ↩︎