38 lines
3.1 KiB
Markdown
38 lines
3.1 KiB
Markdown
---
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category: "BCCI Scandal"
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created: 2024-04-25
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updated: 2026-05-01
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tags:
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- Person
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- BCCI
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- Banking
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summary: "T. Bertram 'Bert' Lance was Jimmy Carter's first Director of the Office of Management and Budget, who resigned in 1977 amid a congressional investigation into banking improprieties, and subsequently became the crucial intermediary who introduced Agha Hasan Abedi to Clark Clifford and facilitated BCCI's covert entry into the U.S. banking market."
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born: 1931-06-03
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died: 2013-08-15
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location: "Gainesville, Georgia"
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---
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T. Bertram (Bert) Lance was President [[Jimmy Carter]]'s budget director and former chairman of [[National Bank of Georgia]].[^1]
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### Political and Banking Career
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Lance gained prominence as Jimmy Carter's budget director but later resigned due to a congressional investigation into financial improprieties.[^2] He became chief executive of the National Bank of Georgia, which was the largest lender to Jimmy Carter's peanut warehouse.[^3] He borrowed $2.6 million to finance his purchase of stock in the bank.[^4]
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### Involvement with BCCI
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[[Eugene Holley]] introduced Lance to [[Agha Hasan Abedi]] in October 1977.[^5] Abedi helped Lance finalize the acquisition of National Bank of Georgia from Lance in January 1978, and on the same day, Abedi paid off Lance's $3.5 million bank loan.[^6] Lance's financial difficulties were leveraged by Abedi to facilitate BCCI's entry into the U.S. market.[^7]
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Lance played a key role in the acquisition of [[Financial General Bankshares]], which later became [[First American Bank]].[^8] He recruited his friend and attorney [[Clark Clifford]] to represent Abedi, BCCI, and the front men in the Financial General suit.[^9] BCCI also hired Lance as a consultant at a salary of $100,000.[^10]
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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. 10.
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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. 178.
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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. 179.
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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. 179.
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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. 11.
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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. 12.
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[^7]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 179.
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[^8]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 181.
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[^9]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 183.
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[^10]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 182.
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