Abstract

Beltway Bandits

Politician Orrin Hatch is shocked that some politicians are indirectly linked to the scandalous Bank of Credit and Commerce International (B.C.C.I). The conservative Republican Senator recently released a report detailing contacts between members of the U.S. Congress and CenTrust Savings Bank of Miami, Florida. A B.C.C.I. front man, Ghaith Pharaon, and the bank itself obtained more than 5 percent of the voting shares in CenTrust owned a substantial percentage of CenTrust's shares. Hatch was certainly not influenced by the fact that most of the elected officials in touch with David Paul, CenTrust's chair, are Democrats. Paul was a fundraiser for the Democratic Senatorial Campaign Committee, which was chaired by B.C.C.I. busting U.S. Senator John Kerry. But to cover his bets Paul also donated albeit on a smaller scale to Republican causes.