Word: hides
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...without regulation all over the world. The bank's organizational web consisted of dozens of shell companies, offshore banks, branches and subsidiaries in 70 countries. It was incomprehensible even to its own financial officers and auditors. The bank's extensive use of unregulated Cayman Islands accounts enabled it to hide almost anything. The bank's complex organization and unique method of accounting -- longhand in paper ledgers, written in Pakistan's Urdu language -- make it unlikely that most of the missing money will be traced. Nor is it likely that anyone will ever know just how much Abedi, who has incorporated...
...money. During the years of its most explosive growth in the late 1970s and mid-1980s, B.C.C.I. became a magnet for drug money, capital-flight money, tax-evading money and money from corrupt government officials. B.C.C.I. quickly gained a reputation as a bank that could move money anywhere and hide it without a trace. It was the bank that knew how to get around foreign-exchange rules and falsify letters of credit in support of smuggling. Among its alleged services...
...Iraq, B.C.C.I. became one of the principal conduits for money that Saddam Hussein skimmed from national oil revenues during the 1980s. According to investigator Jules Kroll, who is tracking Saddam's fortune, B.C.C.I. helped the dictator move and hide money all over the world...
...Yale Law School, Thomas sat in the back of classes and tried to hide his face in the hope that his professors would not notice his race. He wanted no special treatment even though he had been admitted under the school's affirmative-action policy. The program called for aggressive recruitment of minority students but it did not set quotas for their admission...
...wonder that the image of the Wessi is a fat man with alligator-hide shoes and a Mercedes-Benz, a Goldgraber, best translated as carpetbagger. "They are unbelievably arrogant," says Stephan Engelberger, 24, an east Berlin hairdresser who recently opened his own salon. "They have plenty of money, but they come over here because everything is cheaper. They behave as if everything belongs to them, as if they know it all and we are stupid...