Word: frauds
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McDougal was tried and acquitted in 1990 on bank-fraud charges stemming from the failure of his S&L. Last week he said he would fight the new indictment. "It's going to be fun for everybody except for this Republican prosecutor who is bringing these bogus, fabricated charges," McDougal said. His ex-wife Susan will also fight the charges...
...cooperation. He remains unsentenced and reportedly under protective custody. But while Hale may have helped take the spotlight off the White House last week, he has other allegations that may, if Starr chooses to give them credence, still trouble the Clintons. Shortly after being indicted on other loan-fraud charges in September 1993, Hale claimed that on two occasions Bill Clinton personally pressured him to give Susan McDougal a $300,000 SBA loan. Later, about $25,000 of that SBA-backed money was used to buy a property that briefly passed through Whitewater Development Corp. in late 1986. If Hale...
...These indictments may have little or nothing to do withWhitewater," saysTIME's James Carneyof the 48-page indictment that charges Bill Clinton's former business partner James McDougal, his wife Susan, and Arkansas governor Jim Guy Tucker with bank fraud and numerous other crimes. "Webster Hubbell was indicted, and it was shown that the Clintons had nothing to do with his crime. It is not clear that this involves the Clintons at all," says Carney. " Still, it certainly isn't good news for the Clintons...
...Kennedys, hoping to extract a little ladylike blackmail. But the Kennedy season is just about over; most of the clan has moved on to Hyannis. When the big storm blows substandard roofs off half of Dade County's ranchettes, Edie and her business partner branch out into insurance fraud. Soon the lizards are frisking: sleazy developers, mendacious salesmen, crooked building inspectors, clueless and boorish tourists. These sorry folk are what is called the fabric of society. Hiaasen's good guys are far out on the fabric's fringe: a decent chap who collects human skulls, and a huge, one-eyed...
DIED. AGHA HASAN ABEDI, 73, founder of the Bank of Credit & Commerce International; of heart failure; in Karachi, Pakistan. Allegations of criminality brought down the once-powerful B.C.C.I. in 1991. Subsequently, Abedi, accused of perpetrating the largest financial fraud in history, was indicted for theft and other charges in the U.S., but Pakistan refused to extradite...