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The_Info_Web/20 - ORGANIZATIONS/PRIVATE/Nugan Hand Bank.md

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Private Organization Nugan Hand Bank was an Australia bank co-founded by Michael Hand and Frank Nugan, along with officials of the Central Intelligence Agency-owned Air America. It was described as a primary CIA operation in the Pacific area.[^1]

Nugan Hand Bank was an Australia bank co-founded by Michael Hand and Frank Nugan, along with officials of the Central Intelligence Agency-owned Air America. It was described as a primary CIA operation in the Pacific area.1

The bank reportedly laundered profits from drug trafficking in the Golden Triangle. These laundered profits, in in turn, financed subversive paramilitary activities in Southeast Asia. The bank collapsed in 1980, $5 billion in debt, and Michael Hand subsequently disappeared.1

Footnotes

  1. Seymour, Cheri. The Last Circle: Danny Casolaro’s Investigation into the Octopus and the PROMIS Software Scandal. First Edition. TrineDay, 2010. ↩︎