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‘August, 2002’

Serbia’s Deadly Choppers – U.S. Firm Sold Parts to Milosevic

Serbia’s Deadly Choppers – U.S. Firm Sold Parts to Milosevic

Pacific News Service, Aug 16, 2002

Bell Helicopters of Texas sold parts to Serbia during a U.N. arms embargo, a report to the war crimes trial of ex-president Slobodan Milosevic shows. The Milosevic regime, writes PNS investigative reporter Lucy Komisar, paid through a secret offshore financial network that included a byzantine web of global tax havens.

At a time when Americans are concerned about U.S. corporate corruption, a tribunal in The Hague has revealed another shadowy deal with international reverberations. Bell Helicopters of Texas sold parts to Serbia during a U.N. arms embargo, when Serbia was involved in a genocidal war using helicopters. The regime of ex-president Slobodan Milosevic paid through a complex, secret offshore financial network.

U.S. Investigators Missed Russian Mob in N.Y. Bank Scandal

U.S. Investigators Missed Russian Mob in N.Y. Bank Scandal

Pacific News Service, Aug 6, 2002

An aggressive European investigation of international crime has revealed alleged Russian mafia leaders operating in the United States. The U.S. Justice Department dropped the ball three years ago during the Bank of New York scandal, which now threatens to explode.

NEW YORK–Nearly three years ago, the Justice Department called the Bank of New York (BoNY) money-laundering scandal “just” a Russian tax-evasion scheme. Now, European investigations show that BoNY was a channel for organized crime. And according to a document obtained by Pacific News Service, some of the alleged Russian mafia leaders have operated freely in the United States.

Marcos’ Missing Millions

Marcos’ Missing Millions

In These Times, Aug 2, 2002

Corporate corruption scandals roil the United States, dragging down with them the reputations of the major accounting firms that signed off on–or even designed–fraudulent financial practices. These global auditors were supposed to keep corporations honest. But a closer look at Switzerland, the birthplace of financial legerdemain, shows that accounting deceit is nothing new. Western financial managers cut their teeth designing systems for Third World dictators to loot their countries.

Perhaps the most notorious example is Ferdinand Marcos, who is suspected of stealing at least $10 billion from the Philippines before being overthrown in February 1986. The Philippine government has spent more than 15 years trying to track and recover the money, some of which was secreted away by Swiss bankers and stashed in offshore havens.