BCCI Role in U.S. Bank Detailed
WASHINGTON - Bank of Credit and Commerce International allegedly was deeply involved in the operations of First American Bankshares Inc. and held meetings with top bank officials to monitor their performance, according to a House Banking Committee draft report that will be released today.
The report, prepared at the behest of the committee's ranking minority member, Rep. Chalmers P. Wylie, R-Ohio, states that Clark M. Clifford and Robert A. Altman, the top two officials of First American, should have known of the BCCI link.
Mr. Clifford and Mr. Altman, who resigned last month, have maintained that they had no knowledge of BCCI's involvement in First American.
A copy of the report obtained by the American Banker said that BCCI officials were "intimately involved in directing Mr. Altman on many of the details concerning First American's ongoing business."
In 1982, Shahid Jamil, who is believed to be a BCCI president Agha Hasan Abedi describing a meeting between Mr. Jamil and Mr. Altman concerning Financial General Bankshares, First American's predecessor.
Another memo, written in 1984 to Swaleh Naqvi, who was then BCCI's chief executive, revealed that BCCI officials periodically reviewed First American and were concerned that it failed to meet budgetary goals for the first half of that year.