"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