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