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NEWS
February 12, 1990 | From Times staff and Wire reports
A six-month investigation by the Miami Herald has found that Miami leads the nation with a $5.1-billion cash surplus in its banking system, a tell-tale sign of the drug trade. A federal grand jury is investigating Republic National Bank in one of the most intensive money-laundering cases in history, and at least five other banks are under scrutiny, the Herald said. The U.S. Drug Enforcement Administration seized $210 million in cash and property in Miami in 1989.
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BUSINESS
April 27, 1993
SafraCorp California, Encino-based holding company for SafraBank California, has agreed to be acquired by Republic New York Corp., holding company of Republic National Bank of New York. Republic said it is buying SafraBank to gain entry into private banking in California. Under the merger agreement, Republic said it will pay book value for SafraBank, or the net value of SafraBank's assets, after adjusting the assets and liabilities to market value as of the sale's closing date.
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BUSINESS
April 27, 1993
SafraCorp California, Encino-based holding company for SafraBank California, has agreed to be acquired by Republic New York Corp., holding company of Republic National Bank of New York. Republic said it is buying SafraBank to gain entry into private banking in California. Under the merger agreement, Republic said it will pay book value for SafraBank, or the net value of SafraBank's assets, after adjusting the assets and liabilities to market value as of the sale's closing date.
NEWS
February 12, 1990 | From Times staff and Wire reports
A six-month investigation by the Miami Herald has found that Miami leads the nation with a $5.1-billion cash surplus in its banking system, a tell-tale sign of the drug trade. A federal grand jury is investigating Republic National Bank in one of the most intensive money-laundering cases in history, and at least five other banks are under scrutiny, the Herald said. The U.S. Drug Enforcement Administration seized $210 million in cash and property in Miami in 1989.
BUSINESS
May 17, 1989 | From Times wire services
The dollar surged to 2 1/2-year highs on world markets today after the Commerce Department released better-than-expected U.S. trade figures. The dollar hit 1.96 marks after news that the March trade deficit narrowed to $8.86 billion from a revised $9.82 billion in February. Later in New York the rally did not lose steam and the dollar rose to 1.9720 marks. Dealers said the trade figure indicated an improvement in the U.S. economy that would make dollar investments even more attractive.
BUSINESS
March 24, 1989
Ron Garber has joined Republic Factors Corp., an affiliate of Republic National Bank of New York, as a senior vice president and senior account executive. He previously was senior vice president and regional manager at Meinhard Commercial Western.
BUSINESS
February 1, 1985 | Associated Press
The dollar turned mixed in U.S. trading Thursday after losing ground against most major currencies in European activity. Gold prices edged lower in the United States after moderate gains overseas. Republic National Bank in New York quoted gold at $304 an ounce, down 40 cents from late Wednesday.
WORLD
December 3, 2002 | From Times Wire Reports
An American nurse was convicted and sentenced to 10 years in prison for setting a fire in Monaco that killed his employer, billionaire Edmond Safra. Testimony said Ted Maher hoped to emerge a hero in the Dec. 3, 1999, blaze at Safra's luxury penthouse by organizing a rescue. Safra, the 67-year-old founder of Republic National Bank of New York, had Parkinson's disease. He and nurse Vivian Torrente died of asphyxiation.
BUSINESS
April 24, 1986 | Associated Press
The dollar turned mixed on Wednesday on European and U.S. exchange markets after dipping in Tokyo to a new post-World War II low against the Japanese yen for the third straight day. The British pound rose to its highest level against the dollar in more than two-and-a-half years. Gold prices also were mixed. Bullion was quoted at $345.75 an ounce at 4 p.m. EST at Republic National Bank, down $1.25 from Tuesday's bid.
BUSINESS
May 17, 1989 | From Times wire services
The dollar surged to 2 1/2-year highs on world markets today after the Commerce Department released better-than-expected U.S. trade figures. The dollar hit 1.96 marks after news that the March trade deficit narrowed to $8.86 billion from a revised $9.82 billion in February. Later in New York the rally did not lose steam and the dollar rose to 1.9720 marks. Dealers said the trade figure indicated an improvement in the U.S. economy that would make dollar investments even more attractive.
NEWS
January 26, 1991 | From Times Staff and Wire Reports
Liberia's interim finance minister said that the country has only $5,000 in New York bank accounts and that the national treasury is almost empty. Byron Tarr, speaking to reporters in Monrovia, the capital, said about $27 million had been deposited in two New York accounts by the government of slain president Samuel Doe in the first six months of 1990. "Last week, the Republic National Bank told me that only $2,500 remained in each of those accounts," Tarr said.
NEWS
July 13, 1991 | From Times Staff and Wire Reports
Three men hijacked a security van at the Hong Kong airport and escaped with nearly $21.5 million in what police said was the largest cash robbery in the British colony. The Republic National Bank of New York said the money was being transferred to an affiliate bank in Taiwan and included $17 million in new U.S. bank notes and 35 million in Hong Kong dollars--the equivalent of $4.48 million. Police said the robbers ambushed four guards in the security van at the airport cargo terminal.
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