BCCI Hearing Is Delayed by N.Y. Court

NEW YORK - Judge Peter McQuillan of New York Criminal Court adjourned a hearing involving Bank of Credit and Commerce International until Oct. 24. The delay was sought by the bank's liquidators, who were appointed to oversee BCCI after its July 5 shutdown.

A New York grand jury indicted BCCI's founder, Agha Hassan Abedi, and the bank's former chief operating officer, Swaleh Naqvi, on July 31.

Lawyers for the defendants were not in court Thursday. If no lawyers show up to represent BCCI, the judge can automatically enter a guilty plea under New York law.

The 11-count indictment charged BCCI with a multi-billion-dollar scheme to defraud depositors, falsify bank records, launder money, and steal over $30 million.

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