1.3 KiB
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Private Organization | Valley National Bank of Arizona, based in Phoenix, was used as a financial conduit in transactions connected to Israeli arms sales and negotiations over the release of American hostages. | Phoenix, Arizona |
Valley National Bank of Arizona was a bank in Phoenix, Arizona. It was used in financial transactions related to Israel arms sales and the release of United States hostages.1
In December 1980, $4 million, part of a larger $56 million payment for the release of United States hostages in Iran, was deposited into an account belonging to Earl Brian at the Valley National Bank of Arizona. This transaction was handled by Ari Ben-Menashe, who ensured a customs slip was obtained to legitimize the deposit.1
Valley National Bank of Arizona was also one of the United States banks through which letters of credit for arms sales to Iran were routed, along with Chicago-Tokyo Bank, Chemical Bank, and Bank One.1
Footnotes
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Ben-Menashe, Ari. Profits of War: Inside the Secret U.S.-Israeli Arms Network. TrineDay, 1992. ↩︎