Hillary Clinton and Larry Nichols
General John Singlaub fired by President Carter 1986 took over Mena Drugs with Larry Nichols from General Richard Secord and Ollie North who were exposed in Iran Contra.
By Stew Webb
Here is a Recording of Larry Nichols
Larry Nichols details many crimes done by the Clinton’s during his time in their inner circle. In the last 5 minutes Larry Nichols details how he hid money from bank regulators for the Clinton’s by taking millions of dollars out of the bank before bank regulators got there! He drove around with tens of millions of dollars of illegal Clinton money in the back of a pickup until bank regulators were finished with their investigation.
I helped Al Martin broker the deal to get this book published and I want everyone to understand who Larry Nichols really is a stooge for HildaBeast aka Hillary Clinton.
By Al Martin
Trinity Oil and Gas, Ltd., which was a collaboration of Barry
Seal, Richard Hamil, Larry Nichols and a few others., as I have previously mentioned.
Barry Seal is conventionally described — and conventionally pigeon-holed — as a
drug smuggler, but he was much more.
There’s much more to this man than simply drugs. His money laundering in
corporate operations is an area which has never been touched.
If anybody ever wanted to do a serious work on Seal, you have to look at this area.
By 1985, I was personally raising through Southeast Resources about $3 million a
year.
Of course, I was only one guy out of two thousand.
Related:
By Al Martin Iran Contra Whistle blower
The Conspirators:
Secrets of an Iran-Contra Insider
By Lt. Cmdr. Al Martin (US Navy, Ret.)
Copyright 2000, Al Martin. All Rights Reserved
Table of Contents
Chapter 1 Confidential File: Alexander S. Martin……………………………………………….…3
Chapter 2 The NPO and Operation Sledgehammer……………………………………………. 14
Chapter 3 Oliver North: The Money Laundering Drug Smuggling “Patriot”……. 26
Chapter 4 “Do Nothing” Janet Reno and Iran-Contra Suppression………………..….. 42
Chapter 5 Classified Illegal Operations: Cordoba Harbor and Screw Worm ……..50
Chapter 6 The Don Austin Denver HUD Fraud Case …………………………………..….. 66
Chapter 7 Bush Family Fraud & Iran-Contra Profiteering ……………………………… 72
Chapter 8 Insider Stock Swindles for “The Cause”…………………………………………….89
Chapter 9 Corporate Fraud, Stock Fraud and Other Scams………………………………106
Chapter 10 The Tri-Lateral Investment Group – Bush Family Fraud…………………. 114
Chapter 11 Lawrence Richard Hamil: The US Government’s Con Man…………… 122
Chapter 12 US Government Narcotics Smuggling & Illicit Weapons Sales……… 136
Chapter 13 US Government Sanctioned Drug Trafficking ……………………………….. 141
Chapter 14 The Chinese Connection: US Weapons & High Tech Graft…………….. 156
Chapter 15 More Iran-Contra Stories: Both Humorous & Salient …………………… 171
Chapter 16 Chinese Money for US Weapons …………………………………………………….185
Chapter 17 US Government Narcotics Smuggling (Part 2) ……………………….… 192
Chapter 18 In Hiding Again ……………………………………………………………………………..209
Chapter 19 Corporate Fraud, Government Fraud and More Fraud……………………224
Chapter 20 The Real Story of Operation Watchtower…………………………………………234
Chapter 21 KGB & East German Activities in the US (1985-87)…………………………..240
Chapter 22 The Woman in Red (And Black)…………………………………………………………252
Chapter 23 Bush Family Corporate, Real Estate, and Bank Frauds…………………….260
Chapter 24 Iran-Contra Real Estate Fraud…………………………………………………………..277
Chapter 25 More Chinese-Military Connections…………………………………………………288
Chapter 26 ONI, CZX & Orpheus. ………………………………………………………………… 295
CONFIDENTIAL FILE: ALEXANDER S. MARTIN
* Born 5-19-54, Oberammergau, West Germany, Federal German Republic.
* Mixed German and American parentage.
* Returned to United States 09-Aug-1957.
* Graduated Masconoma Technical School, 16-May-1972.
* Full ROTC training then available at high school level.
* Graduated with certificates in electronics and communications equipment, as well as a
Level 05 Certificate in Russian Languages.
* Subject joined the United States Navy, 19-May-1972.
* Sent to China Lakes Naval Air Station to complete basic training and for further
training in electronics and communications.
* Subject MOS – 16-Sep-1972.
* At subject’s request, TDY’d 03-Oct-1972 Naval Communication Center, Saigon, South
Vietnam.
* Remained in South Vietnam theater until cessation of naval and air hostilities on 27-
Aug-1973.
* On 04-Sep-1973, subject again, and on request, TDY’d Subic Bay, Pacific Theater of
Operations Naval Command Center.
* Discharged honorably United States Navy 19-May-1976.
* Immediately thereafter joined United States Naval Reserves, Active Status.
* Rremained United States Naval Reserves active status doing two tours.
* Transferred and relisted, inactive service United States Naval Reserves.
19-May-1984,
* Subject retires United States Naval Reserves 19-May-1988 at the Reserve Officers Rank
of Lt. Commander.
After my discharge from active naval duty service in 1976, I moved to Cuzco, Peru,
and set up a business with a childhood friend, George W. Carver III, son of then CIA
Deputy Director, George W. Carver Jr.
The business dealt in alpaca, llama, and vicuna, but was actually a cover, as a “G” for
the State Department.
My assignment at the time was to gather intelligence on Russian military operations
in Peru.
At the time, Peru was officially pro-Moscow. It was armed by Moscow and had
about 4,000 Russian army advisors in the country.
I remained in the country until September 9, 1977, the coup of Gen. Hector Bermudez
and the installation of civilian President, Fernando Terry. At that time I returned to the
United States, initially settling in Miami.
While in Peru, I became acquainted with numerous CIA field agents and support
personnel, then being run out of CIA’s Lima station. These included Deputy CIA
Station Chief Eugene S. Barlow, more commonly referred to as “Buzz” Barlow, whose
claim to fame had been that he had secretly recruited Vladimiro Montesinos, a
Peruvian army officer, who then in turn developed an intelligence network that
informed on Russian Army and Soviet KGB movements within Peru.
An interesting footnote to this is that eight years later, Montesinos would become a
double agent working for the KGB. He was being run by then Assistant Deputy KGB
Director, Major Yuri Shvets, whose cover was Commercial Trade Attache for the Soviet
Embassy in Washington.
Barlow would play an important role in Iran-Contra, particularly in the post 1983
environment and would finally finish up his career as a senior FBI agent at the Tulsa
field office.
Subpoenaed before Congress in 1987, Barlow either refused to answer, or answered “I
don’t know” 117 times when asked about his Iran-Contra role.
In 1978, I met Lawrence Richard Hamil, a Department of Defense shadow player, a
hanger-on as many are, who wait for profitable covert operations.
His father was the well-known Harry J. Hamil, former senior Defense Department
policy analyst of their southern desk before his death of natural causes in 1984.
Hamil and I and others including Frank Snepp, Jack Terrell, Harry Aderholt, Landon
Thorme, Duke Rome, and a host of other players in the shadows of Washington,
became involved in a scheme in 1979 to traffic in American Express credit cards in
Argentina on behalf of the American Express Corporation.
At that time, the United States had placed a short-lived financial embargo on the
country of Argentina in an attempt to pressure the military junta there.
I received twenty dollars for every American Express Card delivered to waiting
customers in Argentina.
You may remember that the scandal was broken by The Washington Post in 1980.
They showed that there was extensive CIA involvement in the operation and that, in
fact, the CIA had actively cooperated with other United States’ financial institutions to
evade the financial embargo placed on Argentina at that time.
Through 1980, I also became involved with Mr. Hamil and others in illicit
transactions to evade the Dominican sugar blockade then extant at that time.
In the late 1970s, I became involved with Lt. Col. Jack Terrell, Brig. Gen. Harry
Aderholt, Lt. Col. Landon Thorme, Lt. Col. Duke Rome.
All would become major Iran-Contra participants three or four years later.
Landon Thorme, for instance, was very close to Jeb Bush.
He acted as a corporate strawman for Jeb Bush in a lot of Bahamian shell corporations
formed around Bush’s principal artifice called IMC (International Medical Corporation)
then directed by the infamous Miguel Recarey, who fled the country in 1985.
In 1984, at the request of Lawrence Richard Hamil, I formed several corporations in
Florida, chiefly among them, Southeast Resources, Inc.
I also established offices in Miami, ostensibly to act as a primary marketer for Hamil’s
series of corporate shells, collectively known as the Gulf Coast Investment Group.
The shells were formed primarily to legitimize the flow of funds between wealthy
individuals and right-wing Republican investors who wished to support Iran-Contra.
Oliver North called it “The Cause. Secord called it “The Enterprise” and by June 1984,
it was just starting to get off the ground.
Obviously it was not legal for these individuals to contribute money to an illicit and
illegal covert operation of state.
Therefore they needed a legitimizing factor which is what Hamil and I provided.
In July 1984, I had a meeting with Richard Secord and Larry Hamil in Miami. There I
was extensively briefed about Iran-Contra operations and was allowed to review
voluminous CIA white papers concerning Operation Black Eagle drafted in 1983.
Very quickly I understood that Iran-Contra (or the euphemism “Iran-Contra”) was a
ruse to ostensibly arm an envisioned 50,000 man guerrilla or “contra” army in
Nicaragua which would act as a bulkwark against the increasingly powerful Sandinista
regime.
The Sandinistas by that time had built up an army of 120,000 men and were being
extensively equipped by the Soviets.
In July 1984, I was approached by the infamous Lawrence Richard Hamil, who was
then operating under the direction of Richard Secord.
Hamil had already set up a series of thirty-seven corporations, all using the word
“Gulf.”
It was very common.
* Gulf Coast Investment
* Gulf Oil and Drilling Supply, which was in a partnership with Jeb Bush.
* Gulf Realty, which was another joint partnership with Neil Bush.
* Gulf Offshore Trust Corporation, a joint deal with George Bush, Jr.
* Gulf Asian Corporation, a joint venture between us and Prescott Bush, the Vice
President’s brother, and his son, Wally.
Wally owned a securities firm in Phoenix, called J. Walter Bush Securities.
As a matter of fact, the firm was in the Lincoln Savings and Loan Plaza. He had a
good deal with Charlie Keating. They did a lot of business with the Lincoln Savings
and Loan. Keating would provide financing for illegal securities deals — deals that
existed nowhere but in a file drawer.
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(Coincidentally, J. Walter Bush Securities was located in an office directly opposite
the World Anti-Communist League office, the famous front organization founded by
General Singlaub.)
In exchange, the bank got notes and stock and everything which eventually wound
up being worthless.
The fraud was segregated. For example, Jeb Bush’s real forté, when it came to fraud,
was oil and gas drilling, oil and gas fraud, real estate fraud, mostly commercial real
estate fraud, à la that Broward Savings and Loan scandal where they lost three or four
million because of Jeb.
And the list goes on endlessly.
Neil, of course, was almost exclusively real estate. These included all of those Gulf
Realty deals.
And you may remember, this is the same Gulf Realty Corporation of the late 1950s
which was originally a CIA proprietary that got cut loose in the 1970s and lay dormant
for a while until Neil and his two partners, Bill Walters and Ken Good, picked it up
and instituted a tremendously complex web of land fraud that stretched from Florida,
Texas, California, and Connecticut.
It was a really intriguing web of land fraud.
The Boca Chica Development, the Destin Country Club Development — these were all
deals that were designed to be frauds.
When they went down the tubes, ultimately they were bailed out with public money
to the tune of $780 million apiece.
There were about 100 such projects in all which were ultimately bailed out by some
public guarantee institution.
It wasn’t necessarily the FDIC or the FSLIC, but in some cases, very esoteric public
guaranteed funds were used to bail these deals out.
George Jr. naturally specialized in oil since he controlled the Bush family oil portfolio
including Harken Energy stock, Tidewater Development stock, and Apache and Zapata
stock.
These were all deals where George Sr. had formerly been on the Board of Directors.
Now George Jr. was on the Board of Directors, since Sr. as Vice President couldn’t have
that capacity.
Harken Energy was a classic fraud.
The stock still trades on the AMEX at five or six dollars a share. It’s been pumped up
recently because there’s a new fraud going on with those Bahrainian Leases that
Richard Secord originally had ten years ago.
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The stock will shortly collapse back to two dollars again, as soon as everybody gets
out.
A lot of Republicans will make money on the deal.
You think, for instance, that the fraud doesn’t still go on today. It does.
A recent example of this fraud is Bre-X Minerals on the Vancouver Stock Exchange.
George Bush was on the Board of Directors and made about $40 million in the deal —
through stock he never paid for.
Former Secretary of State Henry Kissinger made $12 or $13 million on the deal.
George Schultz made money on the deal.
Joe Clark, former Prime Minister of Canada, made money in the deal.
It’s just another example of the continuation of the original fraud which links back to
Iran-Contra.
I remind everybody that Iran-Contra is the genesis for so much of the fraud that exists
today.
In some cases, not even the corporate names have been changed.
Their jurisdictions may have been changed, but the people behind the deals are all the
same.
Anyway, I set up a corporation in Miami in 1984. I didn’t even have to disguise it. It
was just a regular Class C Florida corporation called Southeast Resources, Inc., which
did nothing other than market the product of other people.
It did not generate any of its own product. It was simply a marketing company. It
had marketing contracts for illegal product, illegal limited partnerships, illegal loan
syndications, and so forth.
I was in a very good position to see a very broad range of fraud since at one time in
1985 I had over 300 investment products in-house.
And these not only came from the Bush boys or Richard Hamil, but in some cases I
marketed one deal called Trinity Oil and Gas, Ltd., which was a collaboration of Barry
Seal, Richard Hamil, Larry Nichols and a few others., as I have previously mentioned.
Barry Seal is conventionally described — and conventionally pigeon-holed — as a
drug smuggler, but he was much more.
There’s much more to this man than simply drugs. His money laundering in
corporate operations is an area which has never been touched.
If anybody ever wanted to do a serious work on Seal, you have to look at this area.
By 1985, I was personally raising through Southeast Resources about $3 million a
year.
Of course, I was only one guy out of two thousand.
31
I mean, I don’t have any special claim to fame on any of these deals.
However, an interesting capacity I became involved in was passing along money to
certain politicians in states where we had marketing operations, which was part of the
routine.
This was part of the system of the fraud — that the money would get passed on to
Republicans, particularly Republican governors, or Republican members of the House
and Senate in certain states where we had operations.
A good example of this (which I testified about to the Kerry Commission in 1987) was
passing along money to the husband of then-Governor Martha Lane Collins,
Republican of Kentucky.
Her husband, Dennis the Dentist, was a dentist on the Board of Directors of First
National Bank of Frankfort, Kentucky.
He, himself, later got indicted for fraud, with Jake Butcher and his brother in that
National Bank of Frankfort and the Union Planters Bank in Nashville deal.
That was a good sized fraud — about $80 million. Of course, Dennis the Dentist made
out pretty well. He never spent any time in jail or anything. And Collins was
protected absolutely.
Another guy I passed money to (actually it was to his aide) was then Republican
Governor Thompson of Illinois.
I was in Chicago regularly because many of our contributors were in Chicago.
Richard Hamil and I would meet regularly with the governor’s aide in the bar in the
Whitehall Hotel on E. State Street in Chicago and pass some envelopes — $20,000,
$40,000 at a time.
Those are just two examples. But another way Republican members on the Hill were
paid off was this. They were given limited partnership interests for nothing.
Now, granted, these limited partnership interests were fraud and weren’t worth the
paper they were printed on.
But ultimately (Porter Goss is a prime example of this) Porter was given shares in the
Destin Country Club deal, which was all a fraud.
What happened was the bank, City Commercial Bank of Sarasota, Florida, which was
in the loop, ultimately bought back the shares from him — even though they were
worthless.
It was one way of getting Porter money.
The same thing was done for former Representative Paul Hawkins. Hawkins
profited enormously from these schemes.
You can see by the pattern of Republican congressmen, senators, and governors that
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they were all in Iran-Contra states — states where Iran-Contra activity was extant, like
Texas, Florida, Arkansas, Kentucky, Illinois, California, Colorado, and so on.
There was some effort to investigate this in 1987. As a matter of a fact, it was the
Tower Commission that first began to notice all these connections because of Hayden
Gregory, the General Counsel. He was a real bright guy, but Tower had his own
vested interest in Iran-Contra through his disguised interest in the infamous Houston
Energy Partners, which had been controlled for years by Jim Baker.
Before the Tower Commission could complete its investigation, however, Senator
Tower died in a mysterious plane crash near Brunswick, Georgia. It should be noted
that the first contingent of supposed NTSB investigators on the scene were actually CIA
agents posing as NTSB investigators. Tower’s personal briefcase also somehow
mysteriously vanished.
Related:
More on Larry Nichols
I will also mention here the extent of my knowledge insofar as I was involved with
so many, both Republican and Democratically controlled investigating committees in
the 1987 to 1996 time frame.
Also to use several illustrations where Republican-controlled committees were dying
to get into Arkansas and use Iran-Contra activities in Arkansas against Clinton and
others, but could not do so because they could not gerrymander out Republican
liability and, therefore, they couldn’t use it.
I have a tape-recording of a very interesting conversation I had with Bob Dole’s
campaign manager about this subject in the last Presidential campaign.
You can easily see the Republican reaction in attempting to use this kind of
information.
I also wanted to mention that I have been assembling a condensed compendium of
Israeli involvement in Iran-Contra, principally centering around my knowledge of the
activities of the infamous Michael Harari with subsections about Ari Klein.
It would be principally about Harari and certain meetings Harari had with both
Oliver North and Manuel Noriega, and even one meeting with George Bush himself
and Assistant Secretary of State Elliott Abrams, and then-Deputy Assistant Secretary of
State Michael Kozak.
These are detailed transcripts of meetings involving the Panamanian G2 and security
for narcotics shipments and weapons trans-shipments through the South African
corridor which Harari arranged.
I’m going to mention a little bit about the US/South African/Israeli connection into
Iran-Contra and how that worked through South African military intelligence which
was then under the command of General Magnus Milan.
But I’m not going to dwell on this because — where does it all stop?
I do want to mention an important weapons and narcotics channel, so you can clearly
see the involvement of the Israelis in Iran-Contra, which I think has been much
overlooked.
People talk about Israeli involvement in Iraqgate, but there was substantial
involvement, not only through Michael Harari, but others and even the influence of the
great Rafi Eitan, himself, during Iran-Contra and how this related to the liquidation of
Amir Nir and others.
It’s important to show the relationships and to show that a lot of people died to cover
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this thing up and to cover up the knowledge of this relationship.
Essentially it was to cover up Michael Harari’s activities.
I’m also going to reveal for the first time much more extensive knowledge than what
people have commonly presumed about Amiram Nir, in terms of that July 29, 1986
meeting at the King David Hotel in Jerusalem, which George Bush attended and how
that sealed Nir’s fate.
Also to be discussed will be how Nir’s wife, who is an American, was treated by
Israeli intelligence after Nir’s death.
- Corporate Fraud, Stock Fraud and Other Scams
So far, we have attempted to illustrate Iran-Contra vis-a-vis the breakdown of three
specific areas — namely, narcotics, weapons and fraud. Returning to fraud, we will
examine individual transactions and individual companies, as they related to the
overall pattern, an organized pattern, of State-sponsored fraud under the guise of what
is now known as Iran-Contra.
The first deal I would like to speak about is the infamous Trinity Oil and Gas
Corporation, founded in 1984 by the infamous Barry Seal, Lawrence Richard Hamil
and Larry Nichols.
Trinity Oil and Gas was designed to be a fraud similar to all other oil and gas frauds
at that time.
Not unlike Jeb Bush’s Gulf Oil Drilling Supply Company.
Not unlike Larry Hamil’s Gulf Coast Investment Group and LRH Associates, etc.
We will examine what these frauds had in common, how these frauds related to each
other, and ultimately where the money went.
Trinity Oil and Gas was perhaps a little different. Its purpose was perhaps a little
different. It was not only designed simply to be a fraud, but also as a vehicle to
launder Barry Seal’s money — money that Barry Seal was earning from his narcotics
activity.
Barry Seal, of course, has been extensively discussed in public before, but usually
only in the context of narcotics. His involvement corporately, or in fraud, is really an
overlooked area.
Anyway, Trinity Oil and Gas — to get its base of operations, similar to Gulf Coast
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Investment Group — purchased a bunch of old, beat out, one-barrel-a-day pumpers,
two-barrels-a-day pumpers.
These were principally in the sand tar pits outside of Bartlesville, Oklahoma.
Most of the assets that Trinity Oil and Gas started with to construct the fraud were
assets that it had purchased from the old Sterling Oil of Oklahoma and the old Lyric
Energy of Oklahoma, both which had been publicly traded companies on the NASDAQ
prior to this time and had unfortunately busted out with the decline in oil prices in the
early 1980s.
Again, the scheme was similar.
You take the one or two-barrel-a-day, fifty-year-old pumpers that are given a shot of
acid every three months, and you make it appear that they’re pumping four hundred to
eight hundred barrels a day.
Of course, how you make that appear is by your runs and logs. In this case, Hamil,
once again, turned to Hess Oil, a division of Marathon Oil, then owned by Armand
Hammer.
We have discussed before how Armand Hammer allowed certain divisions — oil and
gas divisions, suppliers, distributors — that he owned to be used to commit fraud.
I guess, you could say this was his contribution to Iran-Contra and to Republican
sources.
Anyway, as they had done with Gulf Coast Investment Group and with Gulf Oil and
Drilling Supply Company, Hess had given false runs and logs, making it appear that in
fact Trinity Oil was pumping five hundred times the oil that it was actually pumping.
And one would say, “Where are the cash deposits? Where is the cash flowing
through Trinity Oil and Gas accounts to match this supposed oil production?”
Of course, where it was coming from initially was Barry Seal.
Barry Seal was simply using this as a device to launder money.
After July-August 1984, Trinity Oil and Gas, under the auspices of Larry Hamil,
became something larger, a newer entity, and an entity to actually defraud people.
As we have said before, we’re using the term “defraud” loosely.
Actually people invested in Trinity Oil and Gas Limited Partnerships, who wanted to
contribute to “The Cause” as Oliver North referred to Iran-Contra.
But obviously a private citizen could not simply contribute to an illegal activity of
government, ergo another artifice steps in, namely Trinity Oil and Gas.
Monies are siphoned off accordingly. It was very similar to the way monies were
siphoned out of Gulf Coast Investment Group and Gulf Coast Oil and Drilling Supply.
You would notice that all three of these companies tended to use either Hess or
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Marathon as their pickup agents in the field.
They also tended to use the infamous Orca Supply Company of Coral Gables, Florida,
supposedly to purchase oil well equipment.
Orca Supply Company was a CIA cut-out that had been dormant. It was picked up
again and was run through the Iran-Contra period by the infamous Lt. Col. Jack Terrell,
aka “El Flaco.”
What was different about Trinity Oil is that it is one of the very few Iran-Contra deals
one can point to wherein money was siphoned off in both directions, politically
speaking.
Not only did money go to Republicans, but it also went to Democrats in the State of
Arkansas.
Trinity Oil and Gas is an excellent example to illustrate how important the State of
Arkansas was (and the Democratic substructure in Arkansas was) to overall Iran-
Contra operations.
For instance, Trinity Oil and Gas was legally formed and its general counsels were
the Little Rock Law Firm of Rose and Hubbel. As a matter of fact, it was one of Web
Hubbel’s own accounts wherein he was counsel.
You will see that others within the Board of Directors of Trinity Oil are Dan Lasater
and Raymond “Buddy” Young. Invoices, by the way, would be faked to make it appear
that Trinity Oil and Gas was actually purchasing materials from the infamous Brodex
Manufacturing and Global Associates.
Certainly, we remember these artifices from the past. Freddie Lee Hampton, Calvin
Edwards, George Rebb — all of the Mena players.
Also, what should be mentioned — and I think it’s very unique to Trinity Oil and Gas
was its relationship with Seth Ward of Ward Manufacturing.
Same old scheme. Faked invoices for materials that were supposedly purchased, that
were in fact never manufactured or delivered.
Brodex Manufacturing, Global Associates, Ward Manufacturing and so forth were
receiving $20,000 – $40,000 a month. That type of thing. It was essentially money being
bled out of Trinity Oil and Gas.
Of course, records subsequently revealed that Trinity Oil and Gas was making
substantial contributions to GOPAC, as well as individual Republicans. It had also had
contributions to the Democratic State Party Committee in Arkansas.
Regarding Trinity Oil and Gas, there was Jeb Bush’s involvement with it vis-a-vis his
own oil and gas fraud, the Gulf Oil Drilling Supply Company.
Trinity Oil and Gas purchased Argentine and Brazilian oil and gas leases for about
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$30,000 or $40,000 per lease from Gulf Oil Drilling Supply.
Of course, these leases were effectively worthless.
Gulf Oil Drilling Supply obtained these leases originally from Zapata. They bought
these leases for a dollar each from Bush-controlled Zapata Oil, which had held these
leases for some time. But they were tantamount to worthless.
Suddenly these leases are effectively given from father to son and they wind up in
the hands of the Jeb Bush-controlled Gulf Oil Drilling Supply Company.
Gulf Oil Drilling Supply Company hypothecated these leases, borrowed money from
these leases with numerous Iran-Contra friendly banks in the Miami area, principally
Capitol Bank.
Later they would default on these loans, and when Brazilian authorities got word that
these leased areas were being used for fraudulent purposes in the United States,
Brazilian authorities mounted an investigation.
It was a half-assed investigation, but it was enough for Jeb Bush to disgorge. He
didn’t want anything more to do with these leases, so consequently he sold them to
Trinity Oil and Gas, which again made the same claims that Gulf Oil Drilling Supply
Company had previously made. They said that these leases were, of course, fabulously
valuable, when in fact, they were tantamount to worthless.
To further illustrate the Arkansas connection to Trinity Oil and Gas, it should be
noted that the general counsels with the law firm of Rose and Hubbel — their bank was
another infamous Arkansas Iran-Contra bank — the Twin Cities Bank of North Little
Rock, Arkansas.
The officer there, later a Director of the bank who handled the account was the
infamous Jonathan Flake. Flake was the one who helped Seal and Hamil put together
limited partnerships and syndications, while the bank provided bridge loans.
Also, in general partnerships of oil production, proved up production (which they
didn’t have, but they simply made it appear that they had), interests were sold by, of all
people, Dan Lasater.
Flake, by the way, was an officer and Director of Twin Cities Bank of North Little
Rock — a key figure in Iran-Contra fraud in Arkansas.
Flake was involved in numerous oil and gas scams and bogus real estate limited
partnerships that the bank also marketed and/or financed. He was also involved with
numerous U.S. congressmen.
In all of these bogus oil and gas deals or bogus real estate deals that Congressman
Alexander, Congressman Solarz, Congressman Dellums and others got hurt, the
common factor is Twin Cities Bank of North Little Rock Arkansas and its senior loan
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officer and later Director, Jonathan Flake.
A precise example of Flake’s involvement would be that Twin Cities Bank of North
Little Rock was both was a submarketer through its securities division as well as a
financier in terms of holding non-recourse and fully recourse paper on bogus limited
partnerships.
However, Flake was directly involved in the marketing and subsequently financing
of the fraudulent real estate investment trust known as the Boulder Property Limited
Series of Partnerships.
Your kind Contributions are very much appreciated thank you. – Stew Webb
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