Word: switzerland
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Dates: during 1980-1989
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Others who got high consulting fees included Richard Nixon's Attorney General, John Mitchell, who has since died; former Massachusetts Senator Edward Brooke; former Kentucky Governor Louie Nunn; Philip Winn, current U.S. Ambassador to Switzerland; and Frederick Bush, a close associate, but no relative, of President Bush's. Jack Kemp, the President's new HUD Secretary, has ordered the program stopped until recent grants are reviewed and new approval procedures created...
While no one has proved conclusively that Pons and Fleischmann are wrong, it seems likely that they jumped to a hasty conclusion based on incomplete research. Scientists in Japan and Switzerland announced that their own tests had convinced them the original work was flawed. An attempt by the Harwell Laboratory in Britain to confirm the discovery has also produced nothing, even though Fleischmann himself checked the experiments...
Despite the capitalization changes, Hoffmann-La Roche is certain to retain the air of genteel mystery that has long surrounded it. Control will remain in the hands of the Basel-based Sachers. The family, one of Switzerland's leading cultural benefactors, is headed by Maja Sacher, 93, and her second husband Paul, 83. Maja Sacher's first husband, Emanuel Hoffmann, son of the company's founder, died in a car crash in 1932. A prominent patron of modern art, Maja Sacher has endowed Basel's museums with works by 20th century masters. Paul Sacher, an energetic conductor, has sponsored scores...
...drug syndicate lies a complex mechanism for recycling bundles of tainted cash into respectable assets. But until two years ago, when Los Angeles narcotics officers seized three Zurich-bound suitcases stuffed with $2 million in currency, there was little hard evidence to implicate the venerable granite-walled banks of Switzerland in such schemes. Since then Swiss banks have been chastened by the disclosure that their accounts were used in a billion-dollar money-laundering operation. The resulting political scandal, in which the Justice Minister was forced to resign, ranks as the worst in modern Swiss history...
Money laundering is not a crime in Switzerland unless it can be shown that the cash flows from criminal activities. Yet Switzerland is a magnet for money launderers because of its legitimate multibillion-dollar trade in foreign bank notes. As much as 3,000 lbs. of foreign currency arrives daily at Zurich's Kloten airport. Much of the cash represents earnings from tourism, which each country's banks exchange for local currency. Swiss authorities are investigating charges that Lebanese currency dealer Barkev Magharian, 35, and his brother Jean, 44, both of whom are now in custody, took advantage of that...