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Clark CliffordThe Wise Man of Washington$
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John Acacia

Print publication date: 2009

Print ISBN-13: 9780813125510

Published to Kentucky Scholarship Online: September 2011

DOI: 10.5810/kentucky/9780813125510.001.0001

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BCCI

BCCI

Chapter:
(p.349) 13 BCCI
Source:
Clark Clifford
Author(s):

John Acacia

Publisher:
University Press of Kentucky
DOI:10.5810/kentucky/9780813125510.003.0014

Clark Clifford had spent the better part of a lifetime cultivating and living off his reputation, and he had become one of the most powerful and respected men in Washington. Unfortunately for Clifford, a reputation is a fragile thing in Washington, especially when tarnished by scandal—the BCCI scandal. BCCI, otherwise known as the Bank of Credit and Commerce International, was founded in 1972 by a Pakistani named Agha Hasan Abedi. The bank catered mostly to the wealthy rulers of the Arab states in the Persian Gulf. It was, however, unwilling to be acquired and filed suit against Bert Lance, Abedi, BCCI, and a group of Arab investors for violating U.S. security laws by failing to disclose that they had been operating as a group in their attempt to gain a controlling interest in Financial General. In February 1978, Lance asked Clifford to defend them in the lawsuit.

Keywords:   Clark Clifford, BCCI, scandal, Agha Hasan Abedi, Bert Lance, U.S. security laws, Financial General

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