"1991 July - Bank of Credit and Commerce International (BCCI) collapses. Abu Dhabi's ruling family owns a 77.4 % share."
http://news.bbc.co.uk/1/hi/world/middle_east/country_profiles/828687.stmRemember that Poppy Bush was neck deep in BCCI. Here's some more info:
"BCCI became the focus in 1991 of the world's worst financial scandal and what was called a "$20-billion-plus heist" (Beaty & Gwynne 1993). It was found by regulators in the United States and United Kingdom to be involved in money laundering, bribery, support of terrorism, arms trafficking, the sale of nuclear technologies, the commission and facilitation of tax evasion, smuggling, illegal immigration, and the illicit purchases of banks and real estate. The bank was found to be worthless, with at least $13 billion unaccounted for.
Investigators in the U.S. and UK revealed that BCCI had been organized to avoid centralized regulatory review and to commit fraud on a massive scale, with its own intelligence network, diplomatic corps, and shipping and commodities trading companies.
The liquidators, Deloitte & Touche, filed a lawsuit against Price Waterhouse and Ernst & Young, the bank's auditors, which was settled for $175 million in 1998. A further lawsuit against the emir of Abu Dhabi, a major shareholder, was launched in 1999 for around $400 million. BCCI creditors also instituted a $1 billion suit against the Bank of England as a regulatory body. After a nine-year struggle due to the Bank's statutory immunity, the case went to trial in January 2004. However in November 2005 liquidators Deloitte dropped any action against the Bank of England as it was no longer considered in the best interests of the creditors after a High Court ruling."
and
"BCCI's founder, Agha Hasan Abedi, started the bank in Pakistan in 1972. Abedi had previously set up the United Bank of Pakistan in 1959. Following the nationalization of United Bank in 1971 he sought to create a new supranational banking entity. BCCI was created with capital from Sheikh Zayed bin Sultan Al Nahayan, emir of Abu Dhabi in the United Arab Emirates, the Bank of America (25%) and, allegedly, the CIA. It is claimed that the CIA were seeking a funding route for the mujahideen, similar to the Investors Overseas Service and the Nugen Hand Bank in the 1960s. However, the vast majority of BCCI's assets were initially from Abu Dhabi."
http://en.wikipedia.org/wiki/Bank_of_Credit_and_Commerce_InternationalCheck out the names of the former Directors down at the bottom - notice the name James R. Bath, who happens to have handled Salem Bin Laden's financial interests in the US, and also bought out Shrub's debacle Arbusto?
http://en.wikipedia.org/wiki/James_R._BathAnd more:
"Arbusto Energy (Arbusto Oil) was a petroleum and energy corporation formed in Midland, Texas, in 1977, by George W. Bush. The word arbusto is Spanish for "bush".
Investors in the company included Dorothy Bush, Lewis Lehrman, William Henry Draper III, Bill Gammell, and James R. Bath. At the time that Bath made an investment of $50,000 he was representing Salem bin Laden's interests in Texas. When Salem bin Laden died in 1988, his interest in Arbusto (along with other bin Laden Group assets) passed to Khalid bin Mahfouz."
http://en.wikipedia.org/wiki/Arbusto_EnergyAnd note some details on Bush pal Mahfouz:
"Bin Mahfouz was the director of BCCI, a huge financial conglomerate later convicted of money laundering, bribery, support of terrorism, arms trafficking, and many other crimes.<3> Bin Mahfouz personally owned a 20% stake in BCCI. He was not convicted of any crimes in relation to BCCI scandal; however, as Forbes Magazine reports,
A New York state grand jury indicted Khalid for fraud, and the U.S. Federal Reserve alleged that he breached banking regulations. He denied any wrongdoing. The charges were dropped in 1993, but only after Khalid agreed to pay $225 million, including $37 million in lieu of fines. Khalid together with NCB was also involved in a separate $253 million deal to settle claims with BCCI's creditors.
Donations to Osama bin Laden in 1988
Craig Unger's book House of Bush, House of Saud claims that bin Mahfouz donated over $270,000 to Osama bin Laden's Islamist organization at the request of Osama's brother Salem bin Laden. Bin Mahfouz does not deny this, but his lawyer stated: "This donation was to assist the US-sponsored resistance to the Soviet occupation of Afghanistan and was never intended nor, to the best of Sheikh Khalid's knowledge, ever used to fund any 'extension' of that resistance movement in other countries.""
and
"Khalid bin Mahfouz has denied that NCB, his bank, was involved in funding an al-Qaeda group. According to reports, high-placed Saudi businessmen transferred millions of dollars through NCB to charities operating as fronts for al-Qaeda. Bin Mahfouz states that he could not have been aware of every wire transfer moving through the bank, and that he would not have allowed such transactions had he known they were taking place. There is no evidence that bin Mahfouz was personally involved in any of these transactions."
and
"Khalid bin Mahfouz inherited many assets from the Saudi Binladen Group when the group's director, Salem bin Laden, died in a plane crash in 1988. Among these was an interest in Arbusto Energy, a Houston oil firm founded by George W. Bush. Bin Mahfouz's holdings were managed by James R. Bath, a close friend to Bush and the former manager of Salem bin Laden's US assets.
After Arbusto merged into Harken Energy, bin Mahfouz continued to be tangentially involved in the company's affairs through BCCI representatives. Bush, Harken's CEO at the time, denies any knowledge of bin Mahfouz's involvement. According to the Modern History Project bin Mahfouz was the owner of Harken energy."
So Shrub is CEO and doesn't know who owns the company.
http://en.wikipedia.org/wiki/Khalid_bin_MahfouzAnd a bit more:
"Khalid bin Mahfouz has been under scrutiny ever since the U.S. Treasury Department named the Muwaffaq charity as an al Qaeda front in October. His eldest son, Abdulrahman, had been a board member of the charity, though a family spokesman denies any wrongdoing. Mahfouz, reportedly very ill, recently received treatment in a military hospital in the sleepy Saudi town of Taif. In the meantime, Abdulrahman manages the family's business interests."
LinkLooks like UAE owned 78% of BCCI, and Mahfouz owned 20%. So that's pretty much the entire BCCI bank, and both have heavy ties to Bush.