disinfozone/The_Info_Web
1
0
Fork 0
Code Issues Pull requests Projects Releases Packages Wiki Activity Actions
The_Info_Web/10 - PEOPLE/(H-M)/Bert Lance.md

2.7 KiB
Raw Blame History

tags
Person
Politician
Banker
BCCI
Jimmy_Carter
National_Bank_of_Georgia
First_American_Bank
USA
Financial_Crimes

T. Bertram (Bert) Lance was President Jimmy Carter's budget director and former chairman of National Bank of Georgia.1

Political and Banking Career

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

Involvement with BCCI

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

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

Footnotes

  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. ↩︎

  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. ↩︎

  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. ↩︎

  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. ↩︎

  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. ↩︎

  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. ↩︎

  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. ↩︎

  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. ↩︎

  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. ↩︎

  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. ↩︎