Wayne Madsen
Tracking bin Laden's money, Tracking bin Laden's money
Fri Aug 8 23:12:31 2003
64.140.158.122


Questionable Ties
Tracking bin Laden's money flow Tracking bin Laden's money

by Wayne Madsen

In these Times, 12 November 2001

Centre for Research on Globalisation (CRG), HTTP://WWW.globalresearch.ca , 28 February 2002


CRG's Global Outlook, premiere issue on "Stop the War" provides detailed documentation on the war and the "Post- September 11 Crisis." Order/subscribe. Consult Table of Contents

On September 24, President George W. Bush appeared at a press conference in the White House Rose Garden to announce a crackdown on the financial networks of terrorists and those who support them. "U.S. banks that have assets of these groups or individuals must freeze their accounts," Bush declared. "And U.S. citizens or businesses are prohibited from doing business with them."

But the president, who is now enjoying an astounding 92 percent approval rating, hasn't always practiced what he is now preaching: Bush's own businesses were once tied to financial figures in Saudi Arabia who currently support bin Laden.

In 1979, Bush's first business, Arbusto Energy, obtained financing from James Bath, a Houstonian and close family friend. One of many investors, Bath gave Bush $ 50,000 for a 5 percent stake in Arbusto. At the time, Bath was the sole U.S. business representative for Salem bin Laden, head of the wealthy Saudi Arabian family and a brother (one of 17) to Osama bin Laden. It has long been suspected, but never proven, that the Arbusto money came directly from Salem bin Laden. In a statement issued shortly after the September 11 attacks, the White House vehemently denied the connection, insisting that Bath invested his own money, not Salem bin Laden's, in Arbusto.

In conflicting statements, Bush at first denied ever knowing Bath, then acknowledged his stake in Arbusto and that he was aware Bath represented Saudi interests. In fact, Bath has extensive ties, both to the bin Laden family and major players in the scandal-ridden Bank of Commerce and Credit International (BCCI) who have gone on to fund Osama bin Laden. BCCI defrauded depositors of $10 billion in the '80s in what has been called the "largest bank fraud in world financial history" by former Manhattan District Attorney Robert Morgenthau. During the '80s, BCCI also acted as a main conduit for laundering money intended for clandestine CIA activities, ranging from financial support to the Afghan mujahedin to paying intermediaries in the Iran-Contra affair.

When Salem bin Laden died in 1988, powerful Saudi Arabian banker and BCCI principal Khalid bin Mahfouz inherited his interests in Houston. Bath ran a business for bin Mahfouz in Houston and joined a partnership with bin Mahfouz and Gaith Pharaon, BCCI's frontman in Houston's Main Bank.

The Arbusto deal wasn't the last time Bush looked to highly questionable sources to invest in his oil dealings. After several incarnations, Arbusto emerged in 1986 as Harken Energy Corporation. When Harken ran into trouble a year later, Saudi Sheik Abdullah Taha Bakhsh purchased a 17.6 percent stake in the company. Bakhsh was a business partner with Pharaon in Saudi Arabia; his banker there just happened to be bin Mahfouz.

Though Bush told the Wall Street Journal he had "no idea" BCCI was involved in Harken's financial dealings, the network of connections between Bush and BCCI is so extensive that the Journal concluded their investigation of the matter in 1991 by stating: "The number of BCCI-connected people who had dealings with Harken -- all since George W. Bush came on board -- raises the question of whether they mask an effort to cozy up to a presidential son." Or even the president: Bath finally came under investigation by the FBI in 1992 for his Saudi business relationships, accused of funneling Saudi money through Houston in order to influence the foreign policies of the Reagan and first Bush administrations.

Worst of all, bin Mahfouz allegedly has been financing the bin Laden terrorist network -- making Bush a U.S. citizen who has done business with those who finance and support terrorists. According to USA Today, bin Mahfouz and other Saudis attempted to transfer $ 3 million to various bin Laden front operations in Saudi Arabia in 1999. ABC News reported the same year that Saudi officials stopped bin Mahfouz from contributing money directly to bin Laden. (Bin Mahfouz's sister is also a wife of Osama bin Laden, a fact that former CIA Director James Woolsey revealed in 1998 Senate testimony.)

When President Bush announced he is hot on the trail of the money used over the years to finance terrorism, he must realize that trail ultimately leads not only to Saudi Arabia, but to some of the same financiers who originally helped propel him into the oil business and later the White House. The ties between bin Laden and the White House may be much closer than he is willing to acknowledge.

Wayne Madsen, an investigative journalist based in Washington, is the author of Genocide and Covert Operations in Africa 1993-1999.

Copyright 2001 Institute for Public Affairs In These Times. Reprinted for fair use only

The URL of this article is:
http://globalresearch.ca/articles/MAD202B.html 
------------------------------------------------------

Bush's Former Oil Company Linked To bin Laden Family
... President George W. Bush froze assets connected to Osama bin Laden, he didn't tell the ... Arbusto means "Bush" in Spanish. Salem bin Laden died in an airplane ... of both George W. Bush and Osama bin Laden, still maintains ...
more hits from: http://www.rense.com/general14/bushsformer.htm  - 18 KB

THE GW BUSH--OSAMA BIN LADIN CONNECTION
... charts of the bin Laden-backed BCCI money which ... into the Bush family in ... After GW Bush's company ... bust, the bin Laden connection with BCCI went to work ... company, Harken Energy, which ... WAYS Sheikh bin Laden/BCCI to George W. Bush President ...
more hits from: http://www.geocities.com/burningbush2000/3.html  - 51 KB

Bush & Bin Laden - George W. Bush Had Ties to Billionaire bin Laden Brood
... Bush & Bin Laden - George W ... International, Bush was ... linked with the bin Laden family until ... The infamous BCCI was shut down ... story of the Bush involvement with bin Laden and the BCCI scandal involves ...
http://www.americanfreepress.net/10_07_0/ ... - 20 KB

Bush Money
... The Bush-Bin Laden Money Connection ... to fund Osama bin Laden. BCCI defrauded depositors ... happened to be bin Mahfouz. "Though Bush told the Wall ... had no idea BCCI was involved in Harkens financial dealings ...
Description: Bush Watch: keeping an eye on the native Texas rascal
more hits from: http://www.bushwatch.net/bushmoney.htm  - 46 KB

Harken, Bush and BCCI
... Order, Baby! Harken, Bush and BCCI The first ... In 1977, Bush received ... Sheikh Kalid bin] Mahfouz and another BCCI-connected ... Sheikh bin Laden" according ... used Khalid bin-Mahfouz ... principal BCCI shareholder ... banker. -- Harken's investment ...
more hits from: http://jamie.cat4.net/nwo/harkenbush.php  - 24 KB

In These Times * Questionable Ties
... currently support bin Laden. In 1979, Bushs first business ... to fund Osama bin Laden. BCCI defrauded depositors ... happened to be bin Mahfouz. Though Bush told the Wall ... no idea BCCI was involved in Harkens financial dealings ...
http://www.inthesetimes.com/issue/25/25/feature3.shtml  - 16 KB

Chris Floyd: Bush, bin Laden, BCCI and the 9/11 Commission
... Insight Bush, bin Laden, BCCI and the 9/11 ... both Kean and Bush share an unusually ... one Khalid bin Mahfouz ... Osama bin Laden's bagman" or ... and George W. Bush. Mahfouz was ... front for the bin Laden family, funneling ...
Description: America's Best Political Newsletter.
http://www.counterpunch.org/floyd01312003.html  - 18 KB

ParaPolitics Forum - ParaPolitics - General - Harken, Bush and BCCI
... Topic Harken, Bush and BCCI ... 21-03 15:26 Harken, Bush and BCCI The first ... Energy. In 1977, Bush received a ... Sheikh Kalid bin] Mahfouz and another BCCI-connected Saudi, Sheikh bin Laden" according ...
http://www.parapolitics.info/phorum/read.php ?... - 29 KB

Conspiracy Planet - Bush Crime Family - Questionable Ties: Harken, Bush and Bin Laden
... Questionable Ties: Harken, Bush and Bin Laden (continued ... on to fund Osama bin Laden. BCCI defrauded depositors ... happened to be bin Mahfouz.Though Bush told the Wall Street ... had łno idea˛ BCCI was involved in Harkenąs financial dealings ...
more hits from: http://www.conspiracyplanet.com/channel.cfm ?... - 23 KB

Scoop: The GW Bush - Osama Bin Laden Connection
... between GW Bush, the bin Laden family ... International (BCCI) is well ... charts of the bin Laden-backed BCCI money which ... into the Bush family in ... After GW Bush's company ... bust, the bin Laden connection with BCCI went to work ...
Description: EDITORS NOTE: The following is a transcript of a link submitted to Scoop by a Scoop reader. Clearly questions are raised in this material about the nature of the relationship between the Bush family and the family of Osama Bin Laden.
more hits from: http://www.scoop.co.nz/mason/stories/HL0109/S00108.htm

The Bushit Goes On and On...The BUSH-BIN LADEN MONEY CONNECTION
... The Bush-Bin Laden Money Connection ... on to fund Osama bin Laden. BCCI defrauded depositors ... just happened to be bin Mahfouz. "Though Bush told the Wall Street ... had “no idea” BCCI was involved in Harken’s financial dealings ...
more hits from: http://www.investigate911.com/bushbinladen.htm  - 22 KB

The Bush-Saudi Connection
... brother of Osama Bin Laden, attended. Bush Junior once ... 1987, Khalid bin Mahfouz arranged for BCCI investor Abdullah ... purchase 17% of Harken. A Harken ... acknowledged that Bushs White House ... Agents Say Bush Spiked Bin Laden Probes Before ...
http://www.hermes-press.com/BushSaud.htm  - 36 KB

[Texgreen] "Osama bin Laden's bagman"
... Chris Floyd: 'Kean insight: Bush, bin Laden, BCCI and the 9/11 commission ... html> Frontline, Nov. 2002 Bush, Bath, bin Laden http://www.scoop.co.nz/archive ... Chris Floyd: 'Kean insight: Bush, bin Laden, BCCI and the 9/11 commission'
http://lists.gp-us.org/pipermail/texgreen/.../001048.html  - 23 KB

PARANOIA - Follow the Money: The Bush-bin Laden Connection
... Follow the Money: The Bush-bin Laden Connection ... wound up entangling Bush, briefly but awkwardly ... affairs of not just BCCI but of the bin Laden family itself ... banking records of the bin Laden family. Bush ...
http://www.paranoiamagazine.com/followmoney.html  - 18 KB

Big Oil and bin Laden - Resources
The story of Big Oil and Osama bin Laden FAIR USE NOTICE: This site ... and Ed Harriman Guardian Osama bin Laden and the Taliban received threats ... unless the Taliban surrendered Osama bin Laden were passed to the regime in Afghanistan ...
more hits from: http://www.tenntimes.org/SECTIONS/Big-Oil/Resources.htm  - 126 KB

Bush & Bin Laden - George W. Bush Had Ties to Billionaire bin Laden Brood
... Bush & Bin Laden - George W ... International, Bush was financially linked with the bin Laden family ... 1988.The infamous BCCI was shut down in ... interpreted it as "bush".Salem bin Laden, a close ...
http://www.mafhoum.com/press2/65Safp.htm  - 20 KB

The Bush/Bin Laden connection - RANT Magazine BBS
... Bulletin Board The Bush/Bin Laden connection profile ... Author Topic: The Bush/Bin Laden connection jeffhermann ... Bush. Arbusto means “Bush” in Spanish. Salem bin Laden died in an airplane crash ...
http://www.rant.com/bbs/ubb/Forum6/HTML/000461.html  - 54 KB

QUESTIONABLE TIES Tracking bin Laden's money flow leads back to Midland, Texas
... currently support bin Laden.In 1979, Bush’s first business ... on to fund Osama bin Laden. BCCI defrauded depositors ... happened to be bin Mahfouz.Though Bush told the Wall Street ... had “no idea” BCCI was involved in Harken’s financial dealings ...
more hits from: http://www.propagandamatrix.com/questionable_ties.html  - 7 KB

Carlyle Bush Osama Bin Laden Nazi
... South. But Bush still didn ... the board of Harken Oil, BCCI, the international ... tarnation was Bush, Jr. in business ... Khalifah bin-Salmon al ... shareholders in BCCI's parent company, BCCI Holdings in Luxembourg. Bush had pulled ... contracts to Harken. In return ...
http://www.xs4all.nl/~stgvisie/VISIE/carlyle-bush-osb.html  - 21 KB

Bush's Former Oil Company Linked To bin Laden Family
... Bush's Former Oil Company Linked To bin Laden Family By Rick ... President George W. Bush froze assets connected ... to Osama bin Laden, he didn't tell ... Arbusto means "Bush" in Spanish. Salem bin Laden died in an ...
http://www.pfalzline.de/irak/freedomnew.htm  - 20 KB

MORE: Harken+bush+bcci+bin+Laden
http://www.alltheweb.com/search?q=Harken+bush+bcci+bin+Laden&c=web&cs=iso-8859-1&o=20 



Main Page - Sunday, 08/10/03

Message Board by American Patriot Friends Network [APFN]

APFN MESSAGEBOARD ARCHIVES

messageboard.gif (4314 bytes)