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The Organized Criminal Activities of the Bank of Credit and Commerce International: Essays and Documentation: In Memoriam David Whitby

AUTHOR: Alan A. Block
ISBN: 0792370627
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Editorial Review

The Organized Criminal Activities of the Bank of Credit and Commerce International: Essays and Documentation: In Memoriam David Whitby
- Book Review, by Alan A. Block

Book Description
The Bank of Credit and Commerce International (BCCI), which perpetrated the "biggest bank fraud in history", was founded by Agha Hassan Abedi and initially registered in Luxembourg in 1972. Its other center of operations was the Cayman Islands and eventually it operated in 73 counries. In the summer of 1991, it was shuttered by the Bank of England. Its many crimes included illegally buying American banks using "straw men" and courting powerful American politicos, laundering drug profits, plundering deposits to conceal grotesque losses on treasury trading, and making illicit loans totaling around a billion dollars that were not expected to be serviced. BCCI also ran accounts for both international terrorists and several national Intelligence Services. What follows in this book are essays dealing with certain aspects of BCCI's misbehaviour and various odd structures, as well as a most important document from Luxembourg's Civil Court, detailing charges against BCCI's auditor, Price Waterhouse subsequently PricewaterhouseCoopers. Readership: advanced students, researchers, attorneys and accountants interested in transnational financial crime.

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Book Review

The Organized Criminal Activities of the Bank of Credit and Commerce International: Essays and Documentation: In Memoriam David Whitby
- Book Reviews, by Alan A. Block

The Organized Criminal Activities of the Bank of Credit and Commerce International: Essays and Documentation: In Memoriam David Whitby

SYNOPSIS

This volume collects a chapter from an unfinished book on British banking regulation, a lengthy legal document from a Luxembourg civil court, and an article which collectively offer a picture of some of the nefarious doings of the criminal Bank of Credit and Commerce International (BCCI), probably most widely known for their twin involvement in both the Iran-Contra scandal and the collapse of the American savings and loan industry. The excerpted chapter offers an overview of the banks activities, while the summons before the civil court details charges brought by the First American Corporations against Price Waterhouse for covering up BCCI's numerous fraudulent financial practices. The final article discusses the response of U.S. investigators to BCCI's activities. Reprinted from Crime, Law & Social Change v.35, nos. 1-2, 2001.