Word: middlemen
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Dates: during 1980-1989
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...Meanwhile, slower sales abroad created a chip glut in Japan, driving Far East prices as much as 50% below the agreed-upon "fair market" values. Result: a boom in illicit roundabout sales. Large numbers of low-priced Japanese chips turned up in Hong Kong, South Korea and Taiwan, and middlemen, known as the suitcase brigade, secretly ferried them...
...question anybody about anything, the three members took it on themselves to conduct the most sweeping investigation yet of the whole affair. They have questioned 58 witnesses, including several no other body had heard from -- Reagan, for one, as well as Manucher Ghorbanifar and Adnan Khashoggi, the two leading middlemen in the Iranian deals. The commission has prepared its own chronology of the deals, a 200-page analysis that is by far the most comprehensive yet put together...
Even without the threat posed by guerrillas, not all Third World aid reaches its destination. Some is skimmed off by corrupt middlemen, some may wind up in the pockets of a country's officials, and still more may spoil or be stolen. "I wouldn't claim that 100% gets exactly where it should," concedes Jean-Pierre Hocke, United Nations high commissioner for refugees. Hocke estimates that up to 10% of relief contributions for refugees never gets to them. Says Millicent Fenwick, the American envoy to the U.N. Food and Agriculture Organization in Rome: "You have to understand that...
After the Arab-Israeli war of 1973, the Arab states were eager to expand their arsenals. Moreover, the rise in oil prices gave them billions to spend on whatever weapons they desired. "That's when the middlemen like Khashoggi really started to make their killings," says one Middle Eastern arms dealer. "It was the gold rush of the 20th century. Every con man in the world was in Arabia." Between 1970 and 1975, Lockheed alone paid Khashoggi $106 million in commissions. During this same period, he is said to have collected hundreds of millions from other corporations. Khashoggi, says...
...that Khashoggi was cut out of several of the deals on orders from McFarlane. The former National Security Adviser replies that he never had anything to do with Khashoggi but did recommend, after meeting Ghorbanifar in London in December 1985, that the U.S. have no more dealings with any middlemen. Whatever the fact, Khashoggi had to be brought back into the arms deals in 1986, when the U.S. began shipping weapons from its own stockpiles and once more needed the Saudi to supply bridge financing. Khashoggi rounded up investors who put $15 million into a May shipment that went sour...