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BCCI and Georgia Politicians 16

BCCI and Georgia Politicians 16

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Published by: arielky on Apr 25, 2009
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06/14/2009

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BCCI And Georgia PoliticiansIntroduction
When BCCI began its surreptitious takeover of FirstAmerican, Jimmy Carter was President of the UnitedStates. The point man for that takeover, of course,was the President's close personal friend and formerDirector of the Office of Management and Budget, T.Bertram Lance.Lance ultimately was forced to abandon his role inthe takeover, but he maintained his contacts withBCCI for another decade. During that time, Lanceintroduced BCCI, and its president, Agha HasanAbedi, to former President Carter and to thePresident's friend and former UN Ambassador,Andrew Young. During the 1980's these three formerpowerful government officials used, and were used,by BCCI, to varying degrees and for variouspurposes.Of the three, Lance was far and away the mostvisibly involved with BCCI. In 1977, when Lancebecame Director of the Office of Management andBudget, he had serious financial problems. Afterresigning later that year amid accusations that hehad mismanaged corporate and personal financialmatters, Lance went to work for BCCI as aconsultant. He appears to have traded on his accessto the President for BCCI's ability to bail him out of his crushing debt. After getting millions from BCCI,Lance provided services to the bank for the nextdecade.BCCI courted the rich and powerful all over the worldand so it was natural that President Carter should be
 
approached with an eye towards using him to givecredibility to the bank. The President apparently didnot establish a relationship with BCCI or Abedi, untilafter he left office. However, throughout the 1980's,Abedi used President Carter as a means of gainingstature for himself and for BCCI in a number of thirdworld countries. The President, in return, receivedmillions of dollars for his charities.
Andrew Young is one of the most famous blackpoliticians, not only in this country, but all over theworld. A former Congressman, Young is also a pastMayor of Atlanta. Perhaps most significant for BCCI, Young was the first black US Ambassador to theUnited Nations under President Carter. In thatposition he often championed Third World causes.BCCI used Young in much the same way as it usedCarter -- for introductions and access to governmentleaders in developing countries. Young, in returnreceived a salary and loans, although his financialrelationship never amounted to that of his colleagueLance.It is no coincidence that at the time the bank closed,BCCI had established its presence in Georgia in manydifferent ways ranging from the ownership of theNational Bank of Georgia to the headquarters forBCCI front man Ghaith Pharaon's U.S. corporateheadquarters.
Bert LanceLance Meets Abedi
Bert Lance, who provided testimony to theSubcommittee on October 23, 1991 about his role inthe BCCI affair, told the Subcommittee that he is
 
"mystified" by the "whole developing scandal."
Lance was the Director of the Office of Managementand Budget under President Carter from January 20,1977 until September 21, 1977. He was forced toresign after it was alleged that he engaged inquestionable financial dealings at the National Bankof Georgia where he was chairman for two years,and, earlier, at the Calhoun National Bank where hewas also chairman.
Lance has stated on many occasions that he first metAgha Hasan Abedi, the President of BCCI, in October,1977 when he was introduced by a member of theGeorgia state assembly, an oil man named EugeneHolley. According to Lance, Holley:had some conversations with Mr. Abedi about me andwhatever few abilities I might have and things of thatnature; and that he thought it would be worthwhile if I had occasion to meet Mr. Abedi and discuss withhim what his interest might or may not have been inregard to the United States, in regard to investments,in regarding to banking generally, and so on.
Holley was the Chairman of the Georgia state SenateBanking and Finance Committee. According to pressreports Holley "had sought aid from Middle Easternsources for his petroleum and real estate ventures."
According to the Washington Post, "Several Georgiabanks that lent money for his [Holley's] ventureshave suffered grave losses," noting that "NBG, underLance's direction, was among the lenders."
In September 1977, Lance met with Holley, Abedi

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