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The BCCI had it origins in a meeting in February 1927 at the Roshanara Club in Delhi between Arthur Gilligan, the captain of the visiting MCC team, De Mello, Grant Govan and the Maharaja of Patiala.
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BCCI and had
Investigators in the U. S. and the UK revealed that BCCI had been " set up deliberately to avoid centralized regulatory review, and operated extensively in bank secrecy jurisdictions.
BCCI was among the first foreign banks awarded a license to operate in the Chinese Special Economic Zone of Shenzhen which bore testament to Agha Hasan Abedi's public relations skills, a feat that had yet to be achieved by the likes of Citicorp and JP Morgan.
In truth, BCCI had been involved in the purchase of FGB / First American from the beginning.
Abedi had been approached about buying it as early as 1977, but by this time BCCI's reputation in the United States was so poor that it could not hope to buy an American bank on its own ( as mentioned above, the OCC was adamantly opposed to BCCI being allowed to buy its way into the American banking industry ).
BCCI had an unusual annual auditing system: Price Waterhouse were the accountants for BCCI Overseas, while Ernst & Young audited BCCI and BCCI Holdings ( London and Luxembourg ).
Most seriously, BCCI had made a staggering $ 1. 48 billion worth of loans to its own shareholders, who used BCCI stock as collateral.
Contrary to that agreement, several stockholders had borrowed heavily from BCCI.
It was later estimated that in this manner, BCCI had ended up with 60 percent or more of First American's stock.
This two year undercover operation concluded in 1988 with a fake wedding that was attended by BCCI officers and drug dealers from around the world who had established a personal friendship and working relationship with undercover agent Mazur.
On June 24, 1991, using the code name " Sandstorm " for BCCI, Price Waterhouse submitted the Sandstorm report showing that BCCI had engaged in " widespread fraud and manipulation " that made it difficult, if not impossible, to reconstruct BCCI's financial history.
Throughout the 80s, BCCI had set up millions of dollars worth of letters of credit for Najmeddin, largely for arms deals with Iraq.
However, after the Sandstorm report, regulators concluded BCCI was so fraught with problems that it had to be seized.
According to the court order, BCCI had lost more than its entire capital and reserves the year before.
On July 7, 1991, Hong Kong Office of the Commissioner of Banking ( forerunner of the Hong Kong Monetary Authority ) ordered BCCI to shut down its business in Hong Kong on the grounds that BCCI had problem loans and the Sheikh of Abu Dhabi, the major shareholder of BCCI, refused to provide funds to the Hong Kong BCCI.
In 2002, Denis Robert and Ernest Backes, former number three of Clearstream, described as a " bank of banks " which practices " financial clearing ", discovered that BCCI had continued to maintain its activities after its official closure, with " microfiches " of Clearstream's illegal unpublished accounts.
A few weeks after the seizure, on July 29, Manhattan District Attorney Robert Morgenthau announced that a Manhattan grand jury had indicted BCCI, Abedi and Naqvi on twelve counts of fraud, money laundering and larceny.
Morgenthau, who had been investigating BCCI for over two years, claimed jurisdiction because millions of dollars laundered by the bank flowed through Manhattan.
BCCI and meeting
His tenure as the President of BCCI ended with a defeat to J. C. Mukherjee, the President of the Cricket Association of Bengal, by 12 votes to 5, in the Board meeting held at the Imperial Hotel in Delhi on 1951-08-05.
BCCI and February
In February the BCCI announced that Balaji had been dropped from the ODI squad to tour New Zealand but had been selected for the test squad.
BCCI and at
One of the large financial institutions that he was able to use to launder money was the Bank of Credit and Commerce International ( BCCI ) which was shut down at the end of the Cold War by the FBI.
In October 1985, the Bank of England and the Institut Monétaire Luxembourgeois ( Luxembourg's bank regulator ) ordered BCCI to change to a single accountant, alarmed at reported BCCI losses on the commodities and financial markets.
For example, the Bank of England ordered BCCI to cap its branch network in the United Kingdom at 45 branches.
The U. S. Central Intelligence Agency held numerous accounts at BCCI, according to William von Raab, former U. S. Commissioner of Customs.
Oliver North also used and held multiple accounts at BCCI.
BCCI paid $ 10 million in fines and forfeited all $ 550 million of its American assets — at the time, the largest single criminal forfeiture ever obtained by federal prosecutors.
* The BCCI Affair, Report to the Committee on Foreign Relations States Senate ; held at FAS -( A Report to the Committee on Foreign Relations United States Senate by Senator John Kerry and Senator Hank Brown ; December 1992 ; 102d Congress 2d Session Senate Print 102-140 )
The Board of Control for Cricket in India ( BCCI ), headquartered at Mumbai, India, is the national governing body for all cricket in India.
The North Stand of the Brabourne housed the Board of Control for Cricket in India ( BCCI ) headquarters and the 1983 Cricket World Cup trophy until 2006 when both were moved to the newly built Cricket Centre at the nearby Wankhede Stadium.
The North Stand of the Brabourne housed the BCCI headquarters and the 1983 Cricket World Cup trophy until 2006 when both were moved to the newly built Cricket Centre at the nearby Wankhede Stadium.
On 27 September 2012 Sandeep Patil was named the chairman of selectors at the Annual General Meeting of the BCCI in Mumbai.
After scoring two more half-centuries in the series at an average of 48, Raina was awarded a BCCI C-grade contract.
Both tours were eventually cancelled but the BCCI was formally founded at the Roshanara Club in December 1928 with Grant Govan as the first President and De Mello the Secretary.
BCCI and Club
The board was formed in December 1928 as BCCI replaced Calcutta Cricket Club.
He co-founded the Safari Club, a " private intelligence group was one of George H. W. Bush's many end-runs around congressional oversight of the American intelligence establishment and the locus of many of the worst features of the mammoth BCCI scandal.
BCCI and Delhi
He started his career in the services of the businessman R. E. Grant Govan in Delhi, and with whom he collaborated in founding the BCCI.
BCCI and between
The relationship between the two was so close that rumors spread BCCI was the real owner of First American.
* Khalid bin Mahfouz – non-executive director and personally owned a 20 % stake in BCCI between 1986 and 1990.
An audit by Price Waterhouse revealed that contrary to agreements between First American's nominal investors and the Federal Reserve, many of the investors had borrowed heavily from BCCI.
Due to the rivalry between the IPL and the ICL, the BCCI asked Tendulkar and Karthik not to play in the match.
BCCI pitch committee member Anand Shukla visited the Green Park stadium today and expressed his satisfaction over the condition of the track where a one-day international cricket match between India and Pakistan would be played on April 15.
He was the chairman of the national selection committee between 1978 and 1982, Executive secretary of the BCCI and the Mumbai Cricket Association Secretary.
Sriraman was the joint secretary of the Madras Cricket Association from 1942-1944 / 45, secretary 1955-1986, BCCI joint secretary in 1963 / 64 and 1964 / 65, secretary 1965 / 66-1969 / 70, vice president 1977 / 78-1984 / 85 and the president between 1985 / 86 and 1988 / 89.
He was the vice president of BCCI from 1962-63 to 1969-70, president of Bombay Cricket Association in 1962-63 and the vice president between 1962 – 63 and 1978-79.
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