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Swaleh Naqvi

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BUSINESS
January 10, 1994 | From Associated Press
A key figure in the Bank of Credit and Commerce International scandal will be extradited for prosecution by the Justice Department under an agreement with the government of Abu Dhabi. Justice Department officials confirmed the agreement Sunday and said they expect Swaleh Naqvi, the top deputy to the founder of BCCI, to be brought to the United States from Abu Dhabi within four months to face bank fraud charges.
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NEWS
July 9, 1994 | From Associated Press
A banker who oversaw the machinery of the vast Bank of Credit & Commerce International swindle pleaded guilty Friday to federal charges of bank fraud. Swaleh Naqvi's plea came three years after BCCI was seized amid reports that it had served as a haven for drug dealers, dictators and money launderers. Naqvi, former chief executive of the bank, is the highest ranking BCCI executive to plead guilty in this country's prosecution of the global case.
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NEWS
August 4, 1991 | WILLIAM TUOHY, TIMES STAFF WRITER
Members of the Abu Dhabi government, which owns the majority share in the discredited Bank of Credit & Commerce International, knew the institution was operating fraudulently, according to details of an auditor's report published in newspapers here Saturday. Price Waterhouse, an international accounting firm, told the Bank of England that its investigation of BCCI "revealed widespread fraud and manipulation of accounting records . . .
BUSINESS
January 10, 1994 | From Associated Press
A key figure in the Bank of Credit and Commerce International scandal will be extradited for prosecution by the Justice Department under an agreement with the government of Abu Dhabi. Justice Department officials confirmed the agreement Sunday and said they expect Swaleh Naqvi, the top deputy to the founder of BCCI, to be brought to the United States from Abu Dhabi within four months to face bank fraud charges.
NEWS
January 9, 1994 | From The Washington Post
U.S. prosecutors and banking officials settled a legal and diplomatic battle with Abu Dhabi on Saturday when the royal family of the Persian Gulf state agreed to give up claims to $400 million that it had invested in First American Bankshares Inc. The agreement also gives investigators access to a key witness with knowledge of the BCCI financial scandal, sources familiar with the agreement said. In return, a $1.
NEWS
July 9, 1994 | From Associated Press
A banker who oversaw the machinery of the vast Bank of Credit & Commerce International swindle pleaded guilty Friday to federal charges of bank fraud. Swaleh Naqvi's plea came three years after BCCI was seized amid reports that it had served as a haven for drug dealers, dictators and money launderers. Naqvi, former chief executive of the bank, is the highest ranking BCCI executive to plead guilty in this country's prosecution of the global case.
NEWS
July 31, 1991 | JOEL HAVEMANN, TIMES STAFF WRITER
The Bank of Credit & Commerce International got new life Tuesday when its principal owner, the ruler of Abu Dhabi, promised to infuse $87 million into the troubled institution, and Britain's High Court gave him four months to devise a restructuring plan. The court rejected the Bank of England's petition to permanently close the bank, which has been linked to such activities as laundering drug profits and managing accounts for Abu Nidal and other terrorists.
NEWS
September 6, 1991 | DOUGLAS FRANTZ and RONALD J. OSTROW, TIMES STAFF WRITERS
A former president of the Bank of Credit & Commerce International and five other BCCI officials have been charged with laundering millions of dollars in drug profits as well as money belonging to former Panamanian dictator Manuel A. Noriega. The federal indictment, unsealed Thursday in Tampa after an international manhunt netted one of the former bankers in France, describes BCCI as a corrupt organization set up to launder illicit funds through its worldwide branches.
NEWS
November 16, 1991 | DOUGLAS FRANTZ and JAMES BATES, TIMES STAFF WRITERS
Saudi Arabian tycoon Ghaith R. Pharaon was indicted Friday along with two former presidents of the Bank of Credit & Commerce International on racketeering charges in connection with the acquisition of Independence Bank in Encino, Calif. The federal indictment charges that Pharaon helped BCCI gain secret control of Independence in 1985 by masquerading as the bank's sole owner. It alleges that Pharaon acted as a front for BCCI and owned only 15% of Independence while BCCI controlled the remainder.
NEWS
July 30, 1991 | VICTOR F. ZONANA, TIMES STAFF WRITER
The Bank of Credit & Commerce International and two of its founders were indicted Monday for fraud, falsifying records and grand larceny in what Manhattan Dist. Atty. Robert M. Morgenthau termed "the largest bank fraud in world financial history." On another front in Washington, the Federal Reserve Board imposed a record $200-million fine on BCCI and sought to bar the founders and seven others from any involvement with U. S. banking organizations in the future. The indictment, the biggest U. S.
NEWS
January 9, 1994 | From The Washington Post
U.S. prosecutors and banking officials settled a legal and diplomatic battle with Abu Dhabi on Saturday when the royal family of the Persian Gulf state agreed to give up claims to $400 million that it had invested in First American Bankshares Inc. The agreement also gives investigators access to a key witness with knowledge of the BCCI financial scandal, sources familiar with the agreement said. In return, a $1.
NEWS
November 16, 1991 | DOUGLAS FRANTZ and JAMES BATES, TIMES STAFF WRITERS
Saudi Arabian tycoon Ghaith R. Pharaon was indicted Friday along with two former presidents of the Bank of Credit & Commerce International on racketeering charges in connection with the acquisition of Independence Bank in Encino, Calif. The federal indictment charges that Pharaon helped BCCI gain secret control of Independence in 1985 by masquerading as the bank's sole owner. It alleges that Pharaon acted as a front for BCCI and owned only 15% of Independence while BCCI controlled the remainder.
NEWS
September 6, 1991 | DOUGLAS FRANTZ and RONALD J. OSTROW, TIMES STAFF WRITERS
A former president of the Bank of Credit & Commerce International and five other BCCI officials have been charged with laundering millions of dollars in drug profits as well as money belonging to former Panamanian dictator Manuel A. Noriega. The federal indictment, unsealed Thursday in Tampa after an international manhunt netted one of the former bankers in France, describes BCCI as a corrupt organization set up to launder illicit funds through its worldwide branches.
NEWS
September 3, 1991 | DOUGLAS FRANTZ, TIMES STAFF WRITER
Agha Hasan Abedi sounded more like Darth Vader than the founder of the Bank of Credit & Commerce International when he spoke to his executives about the force driving the bank at a conference in Miami one Sunday late in 1985. "Mr. Awan, may I ask you, do you feel the force within, which within you drives you?" Abedi asked Amjad Awan, an official in the bank's Washington office. "How many times do you feel? And what does it make you feel? What do you become when you feel that?
NEWS
August 4, 1991 | WILLIAM TUOHY, TIMES STAFF WRITER
Members of the Abu Dhabi government, which owns the majority share in the discredited Bank of Credit & Commerce International, knew the institution was operating fraudulently, according to details of an auditor's report published in newspapers here Saturday. Price Waterhouse, an international accounting firm, told the Bank of England that its investigation of BCCI "revealed widespread fraud and manipulation of accounting records . . .
NEWS
July 31, 1991 | JOEL HAVEMANN, TIMES STAFF WRITER
The Bank of Credit & Commerce International got new life Tuesday when its principal owner, the ruler of Abu Dhabi, promised to infuse $87 million into the troubled institution, and Britain's High Court gave him four months to devise a restructuring plan. The court rejected the Bank of England's petition to permanently close the bank, which has been linked to such activities as laundering drug profits and managing accounts for Abu Nidal and other terrorists.
NEWS
September 3, 1991 | DOUGLAS FRANTZ, TIMES STAFF WRITER
Agha Hasan Abedi sounded more like Darth Vader than the founder of the Bank of Credit & Commerce International when he spoke to his executives about the force driving the bank at a conference in Miami one Sunday late in 1985. "Mr. Awan, may I ask you, do you feel the force within, which within you drives you?" Abedi asked Amjad Awan, an official in the bank's Washington office. "How many times do you feel? And what does it make you feel? What do you become when you feel that?
NEWS
January 9, 1994 | The Washington Post
U.S. officials settled a legal battle with Abu Dhabi on Saturday when the Persian Gulf state's royal family agreed to give up claims to $400 million invested in First American Bankshares Inc., a U.S. bank illegally owned by the scandal-ridden Bank of Credit & Commerce International. Sources said the agreement gives investigators access to a key figure in the scandal: Swaleh Naqvi, the chief deputy to BCCI founder Agha Hasan Abedi. In return, a $1.
NEWS
July 30, 1991 | VICTOR F. ZONANA, TIMES STAFF WRITER
The Bank of Credit & Commerce International and two of its founders were indicted Monday for fraud, falsifying records and grand larceny in what Manhattan Dist. Atty. Robert M. Morgenthau termed "the largest bank fraud in world financial history." On another front in Washington, the Federal Reserve Board imposed a record $200-million fine on BCCI and sought to bar the founders and seven others from any involvement with U. S. banking organizations in the future. The indictment, the biggest U. S.
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