BCCI Investigation, Day 3

THe committee heard testimony on the financial affairs of the Bank of Credit and Commerce International from officials of a Washington bank owned by… read more

THe committee heard testimony on the financial affairs of the Bank of Credit and Commerce International from officials of a Washington bank owned by B.C.C.I. during the third day of hearings investigating the B.C.C.I. scandal. Several countries seized the assets of B.C.C.I. earlier in 1991 after learning of the questionable financial transactions handled by the international bank, including money laundering for drug dealers and terrorists. Witnesses included representatives of First American Bank of Washington, an American bank owned by B.C.C.I. The directors of the bank testified they did not know of B.C.C.I.'s ownership of First American, saying they believed the heads of First American, Clark Clifford and Robert Altman, when they were told B.C.C.I. had no involvement in the bank. Mr. Clifford and Mr. Altman had testified two weeks earlier before the committee, and had maintained B.C.C.I. had misled them about the ownership of First American. The witnesses at today’s hearing were criticized harshly for their testimony on their ignorance of First American’s ownership, as committee members claimed documents showed they should have known about the ownership of First American. close

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  • Paul Adams Executive Vice President First Amer. Bank of Washington, DC
  • Jack Beddow President and CEO First Amer. Bank of Washington, DC
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BCCI Investigation, Day 3

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Program ID:
21619-1
Category:
House Committee
Format:
House Committee
Location:
Washington, District of Columbia, United States
First Aired:
Sep 27, 1991 | 4:53pm EDT | C-SPAN 2
Last Aired:
Sep 28, 1991 | 12:54am EDT | C-SPAN 1

Airing Details

  • Sep 27, 1991 | 4:53pm EDT | C-SPAN 2
  • Sep 28, 1991 | 12:54am EDT | C-SPAN 1
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BCCI Investigation, Day 3

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