A Full Service Bank: How BCCI Stole Billions Around the World

Author:   James Ring Adams ,  Douglas Frantz
Publisher:   Simon & Schuster
Edition:   New edition
ISBN:  

9780671729127


Pages:   396
Publication Date:   01 March 1993
Format:   Paperback
Availability:   Out of print, replaced by POD   Availability explained
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A Full Service Bank: How BCCI Stole Billions Around the World


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Overview

A Full Service Bank recounts the biggest bank fraud in history, detailing BCCI's rise and fall, as well as the personalities involved. Two veteran journalists go behind the scenes to reveal the intrigues and machinations that led to the biggest bank fraud in history, detailing BCCI's enterprise that stole billions around the world.

Full Product Details

Author:   James Ring Adams ,  Douglas Frantz
Publisher:   Simon & Schuster
Imprint:   Pocket Books
Edition:   New edition
Dimensions:   Width: 15.20cm , Height: 2.20cm , Length: 22.90cm
Weight:   0.580kg
ISBN:  

9780671729127


ISBN 10:   0671729128
Pages:   396
Publication Date:   01 March 1993
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   Out of print, replaced by POD   Availability explained
We will order this item for you from a manufatured on demand supplier.

Table of Contents

Reviews

The first book on the Bank of Credit and Commerce International as the depository institution of choice for drug-dealers, gun-runners, terrorists, and other lawbreakers. Despite a comparatively narrow focus, the painstakingly documented text sets a high standard for the many entries sure to follow. Adams (a former Forbes editor) and Frantz (coauthor, Selling Out, 1989, etc.) devote the bulk of their report to a successful undercover investigation mounted by the US Customs Service in southern Florida. The sting operation broke up a money-laundering ring and produced hard evidence of BCCI's illicit activities long before government agencies in seven countries closed the bank's doors last summer. The authors nonetheless make a good job of recounting how the Arab-owned, Pakistani-run bank (founded in 1972) was organized to evade oversight by any one nation's regulatory authorities. Achievement of this objective, Adams and Frantz show, gave BCCI stewards more than enough rope to hang themselves as they resorted to Ponzi schemes, pitching shady accounts with secret ledgers, and other crimes to keep pace with the demands of investors or their cronies for credit and cash. BCCI apparently did a fair amount of legitimate business as well, but audits commissioned by the Bank of England finally exposed the extent of its deficits and misconduct, making a shutdown inevitable. The authors leave little doubt that BCCI was able to suborn or use pillars of the financial and political community in its zeal to expand, typically on the basis of undeclared equity interests. The ranks of the tarnished encompass the likes of Jimmy Carter, Clark Clifford, and Bert Lance. This sorry tale is not without heroes, though, including Sidney Bailey (Virginia's commissioner of financial institutions), Sen. John Kerry of Massachusetts, and New York City's D.A., Robert Morgenthau. The collapse of BCCI's house of marked cards seems certain to attract further editorial attention. Meanwhile, Adams and Frantz offer a primer that promises to measure up against further coverage. (Kirkus Reviews)


Author Information

James Adams is the former Managing Editor of the London Sunday Times, the author of thirteen books on intelligence, terrorism, and national security, and served as a Board Member of the NSA. He currently is the chairman of Worldwide Audio Ltd.

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