Nugan Hand Bank
 Nugan Hand Bank  (Fraud, Front)    | |
|---|---|
| Formation | 1973 |
| Founder | • Francis John Nugan • Michael Jon Hand |
| Extinction | 1980 |
| Interest of | Peter Abeles, Murray Riley |
Alfred W. McCoy and Sterling and Peggy Seagrave claim that Nugan Hand was totally CIA controlled (via Paul Helliwell), seeing it as part of a series of CIA-controlled banks, preceded by Castle Bank & Trust and succeeded by the Bank of Credit and Commerce International (BCCI). They state that the bank was just small stepping stone for the CIA in laundering capital that started during World War II.[1][2]
It has long been a subject of speculation that Nugan Hand played some part in Australian prime minister Gough Whitlam's dismissal.
Fraud
"The bank collapsed with debts in excess of $50 million and a subsequent royal commission found evidence of money-laundering, illegal tax avoidance schemes and widespread violations of banking laws. Over the years, the two words Nugan Hand became shorthand for drug-dealing, gun-running, organised crime and clandestine intelligence activities."[3]
Remarkably, no one connected with Nugan Hand has ever been convicted of a crime. Michael Jon Hand was found to be living in USA in 2015.[3]
References
- ↑ McCoy, Alfred W. (1991), The Politics of Heroin: CIA Complicity in the Global Drug Trade, Lawrence Hill Books, pp. 461–469
- ↑ Seagrave, Sterling; and Peggy Seagrave (2003), Gold Warriors: America's Secret Recovery of Yamashita's Gold, Verso, pp. 98, 148,
- ↑ a b http://www.smh.com.au/business/banking-and-finance/nugan-hand-bank-mystery-michael-hand-found-living-in-the-united-states-20151107-gkthas
