Professional Documents
Culture Documents
Introduction
When BCCI began its surreptitious takeover of First
American, Jimmy Carter was President of the United
States. The point man for that takeover, of course,
was the President's close personal friend and former
Director of the Office of Management and Budget, T.
Bertram Lance.
BCCI courted the rich and powerful all over the world
and so it was natural that President Carter should be
approached with an eye towards using him to give
credibility to the bank. The President apparently did
not establish a relationship with BCCI or Abedi, until
after he left office. However, throughout the 1980's,
Abedi used President Carter as a means of gaining
stature for himself and for BCCI in a number of third
world countries. The President, in return, received
millions of dollars for his charities.(1)
Bert Lance
Lance Meets Abedi
Bert Lance, who provided testimony to the
Subcommittee on October 23, 1991 about his role in
the BCCI affair, told the Subcommittee that he is
"mystified" by the "whole developing scandal."(2)
Jimmy Carter
Introduction
Former President Carter has enormous respect
and admiration throughout the world, but
particularly in the Third World where he
focused much of human rights policy while he
was President. The President's focus on "Third
World" issues, combined with BCCI's need for
rapid worldwide expansion led the bank, and
its president, Aga Hasan Abedi, to court
President Carter after he left office. BCCI,
which styled itself as a "Third World", bank
successfully exploited the President's
reputation and access by providing large
amounts of funding to the his charitable
organizations. In turn, the President became
an unwitting pawn of BCCI, failing to
acknowledge, even when it became obvious,
that the bank was a criminal institution.
Andy Young
Introduction
Andrew Young is one of the most prominent
Black Americans in the country and has a
record of high achievement in public service.
However, The Subcommittee finds that Young's
relationship with BCCI was inappropriate,
particularly during the period that Young
served as the Mayor of Atlanta. While he may
technically have violated no ethical rules of his
office, his financial relationship with BCCI has
the appearance of influence-peddling.
Conclusion
Beginning in the late 1970's BCCI made a
concerted effort to court important members
of the Carter administration, including the
President himself. Bert Lance, for example,
appears to have been relieved of substantial
debt by the bank. While Mr. Lance's financial
dealings have been thoroughly investigated
and he has to date been convicted of no crime,
the Subcommittee has concluded that from the
beginning Lance traded on his time in public
office for personal gain. In short, while his
dealings with BCCI may not have been criminal,
they can only be characterized as corrupt.
7. Id.
8. Id.
9. Id. p.6.
10. Id.
21. Id.
39. Id.