27 lines
2 KiB
Markdown
27 lines
2 KiB
Markdown
---
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category: "BCCI Scandal"
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tags:
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- Person
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- BCCI
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summary: "Eddie George was the Deputy Governor of the Bank of England."
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born: 1938-09-16
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died: 2009-04-18
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location: "Carshalton, Surrey, England"
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---
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Eddie George was the Deputy Governor of the [[Bank of England]].[^1]
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### Role in BCCI Scandal
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George, along with Governor [[Robin Leigh-Pemberton]], was aware of the disastrous 1990 Price Waterhouse audit of [[Bank of Credit and Commerce International|BCCI]], which revealed that many of BCCI's transactions were "fraudulent and deceitful."[^2] Despite this knowledge, the Bank of England agreed to a plan in spring 1990 to allow BCCI to move its headquarters to [[Abu Dhabi]] and for [[Zayed bin Sultan AL-Nahayan|Sheikh Zayed]] to take over the bank.[^3] This action effectively concealed BCCI's problems from its depositors and creditors.[^4]
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On June 28, 1991, George and Leigh-Pemberton decided to act, informing the [[Federal Reserve Bank]] of the impending seizure of BCCI in the [[United Kingdom]].[^5] This decision was influenced by the revelations in the Price Waterhouse audit and the certainty that [[Robert Morgenthau]] and the Fed would take action.[^6]
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### Footnotes
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[^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.
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[^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. 135.
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[^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. 135.
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[^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. 135.
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[^5]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 146.
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[^6]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 136.
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