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Banking & Finance

December 25, 1991|From Times Staff and Wire Reports

Ex-BCCI Official to Help Investigators: A former Bank of Credit & Commerce International official agreed to cooperate with authorities investigating the scandal-ridden institution in exchange for having civil charges against him dropped, the Federal Reserve Board said. Khusro Elley is one of a group of Middle Eastern businessmen that the Fed accused of helping BCCI secretly acquire First American Bankshares Inc., the biggest bank in Washington. Elley, who worked for BCCI before becoming senior vice president of First American's New York bank, also agreed to resign from First American, the Fed said.

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