BCCI Fugitive Still on the Run, Living the High Life
You think the Enron scandal has dragged on? Try BCCI. More than a decade since the demise of "terrorists' favorite bank" some of those responsible remain out of reach of law enforcement.
Case in point: 65-year-old multi-millionaire, Ghaith Rashad Pharaon has been on the run from U.S. authorities since the 1991 collapse of the Bank of Credit and Commerce International of which he was a major shareholder. Pharaon, who continues to live in fine jet-set style is seen by the U.S. as the frontman for BCCI, which came under investigation for laudering money on behalf of a variety of unsavory types: terrorists, drug cartels, arms traffickers, black market nuclear weapons dealers and smugglers.
Apparently this past Friday Pharaon neatly evaded capture once again, this time in Sicily where he had been luxuriating on his 60 foot super-yacht moored at the island of Pantelleria. Sicilian paramilitary troops raided the yacht but found that Pharaon had already moved on. Meanwhile charges of fraud, money laundering and racketeeing againts Pharaon are, to date, unprosecuted he recently paid $175 million to the liquidators of BCCI to settle civil charges against him relating ot the bank's collapse.
More on the details of the recent raid from the Khaleej Times.
-- MDT
Case in point: 65-year-old multi-millionaire, Ghaith Rashad Pharaon has been on the run from U.S. authorities since the 1991 collapse of the Bank of Credit and Commerce International of which he was a major shareholder. Pharaon, who continues to live in fine jet-set style is seen by the U.S. as the frontman for BCCI, which came under investigation for laudering money on behalf of a variety of unsavory types: terrorists, drug cartels, arms traffickers, black market nuclear weapons dealers and smugglers.
Apparently this past Friday Pharaon neatly evaded capture once again, this time in Sicily where he had been luxuriating on his 60 foot super-yacht moored at the island of Pantelleria. Sicilian paramilitary troops raided the yacht but found that Pharaon had already moved on. Meanwhile charges of fraud, money laundering and racketeeing againts Pharaon are, to date, unprosecuted he recently paid $175 million to the liquidators of BCCI to settle civil charges against him relating ot the bank's collapse.
More on the details of the recent raid from the Khaleej Times.
-- MDT
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