Word: laundering
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...when Gulfs then chief executive officer W.K. Whiteford decided that his company needed more "political muscle." To get it, he ordered that a covert fund be set up. In 1960 the Bahamas Exploration Co. Ltd. in Nassau was transformed from an insignificant subsidiary into a firm that could "launder" Gulfs money and pass it along to politicians. Whiteford insisted that the fund be kept secret from the Mellon family and from the executives that he called the "Boy Scouts"-E.D. Brockett and Bob R. Dorsey. To the directors at last week's meeting, the key question was whether...
...depositions taken so far are much more serious. They reveal that Gulf carefully designed a dummy company in Nassau first to "launder" and then to relay money to strategically placed politicians. This Bahamas Exploration Co., Ltd. may well have passed out $5 million in the U.S. alone. The main job of one of its former officers, William C. Viglia, seems to have been to deposit Gulf money in a Bahamian bank, withdraw it and then run the cash back to Claude Wild in Washington...
...mountainous wife Eugenie would peer through the shutters at them, too proud to show themselves. The collectors never stopped at the Kupkas'. In the past, they had been so poor that Eugenie Kupka now and then had to buy old tablecloths and underwear in the flea market, launder them and sell them to raise a few francs...
...traffic conducted by a number of big-time receivers abroad." These 50 or so men, he believes, are not art dealers but organizers of what amounts to theft-for-investment. They commission thefts, receive the goods, wait for them to cool (for years, if need be) and then discreetly launder them through a network of "honest" art dealers strung between Switzerland, Germany...
...Erdman believes, the largest market manipulation in history, and his fact-filled fictional explanation goes like this. Some American Mafiosi, looking for a place to launder their tainted, untaxed dollars, buy a small Swiss bank. One of their first ventures is to bankroll an aristocratic Iranian who claims to have a huge silver mine. Word of this hoard leaks out to one of the world's richest men who also enjoys cornering the world's silver supply. Fearing that the Iranian's silver will flood the market and dilute the price, he makes an offer that even...