Skip to content or view mobile version

Home | Mobile | Editorial | Mission | Privacy | About | Contact | Help | Security | Support

A network of individuals, independent and alternative media activists and organisations, offering grassroots, non-corporate, non-commercial coverage of important social and political issues.

CIA Accused Of Bank Heist

Gordon Thomas | 20.08.2003 23:26 | Analysis | Anti-militarism | Repression | World

Shortly before U.S. forces began streaming across the Iraqi border, commencing Persian Gulf War II, the CIA and the Department of Defense, with a little help from Israel and some Europeans, pulled off a massive bank heist in Iraq to the tune of several billion dollars.

The CIA and the Defense Intelligence Agency (DIA) are accused by International Currency Review, the London-based journal, of mounting a joint ultra-secret operation to electronically remove an estimated $10 billion out of the Iraqi Central Bank hours before the start of Persian Gulf War II. The whereabouts of the money is not known.

"We believe it is in a secret CIA fund which will be used to mount further special services operations, such as tracking down Saddam Hussein," said the Review’s publisher, Christopher Story.

Story is a former financial advisor to Lady Thatcher when she was Britain’s prime minister. In the past 10 years, he has testified before several congressional committees dealing with financial scandals.

DIA coordinates all intelligence for the Joint Chiefs of Staff. It is headquartered in the Pentagon.

The report is titled "The Great Robbery of the Central Bank of Iraq." It has been sent to finance ministers of leading nations, the World Bank, the Bank of England and heads of all other major banks.

The report is bound to cause huge embarrassment to President Bush after he signed an executive order on March 23, ordering a worldwide hunt for the hidden assets of Saddam Hussein and his family.

The Review claims that using skilled hackers recruited by the DIA and key Iraqi bank officials who had been bribed to provide secret access codes to the Central Bank’s accounts for Saddam Hussein and his family, the money was transferred out of the bank in a high-tech operation.

According to the General Accounting Office (GAO), the investigative agency of Congress, Saddam was estimated to have accumulated "$6.6 billion between 1997 and 2000 from illegal oil smuggling and from illicit deals connected with the United Nations oil for food program."

But a substantial portion of that money may have been lifted by the secret CIA/DIA operation.

The operation, claims the Review, was masterminded by the CIA/DIA out of a military facility, Redstone Arsenal, in Alabama. It is the base for U.S. Special Ser vices.

"The money was laundered through a number of CIA controlled accounts, including some held in the Discount Bank of Israel, Credit Suisse in Switzerland and the Dresdner Bank in Germany," said Story.

He confirmed that Germany’s secret service Bundesnachrichtendienst (BND) is checking with the major German banks on electronic transfers, which could match the $10 billion.

The Review states in its 25-page report that it had questioned a key member of the operation. She is identified as "Nelda Rogers, a debriefing officer with the Defense Intelligence Agency."

"She was in Germany last year when American intelligence officials were devising covert operations ahead of the long-planned conflict. She has revealed that a covert operation targeting the Central Bank of Iraq took place prior to and during the war. The operatives involved were military ‘black operations’ personnel brought into service for this purpose," said Story.

The Review claims that Rogers and a team of ten DIA operatives were financed through the U.S. Department of Agriculture. They were supported by CIA agents in Iraq.

"In all, 100 people were involved in the operation," says the report. "The Department of Agriculture has been consistently used to hide payments for U.S. covert operations," claimed Story, whose headquarters are close to Whitehall.

The Review states: "The U.S. Department of Agriculture is used as a paymaster for certain DIA ‘black operations’ because it has traditionally remained unscrutinized."

"Like the Federal Reserve Board and the U.S. Treasury’s secret Exchange Stabilization Fund, the Department of Agriculture is yet another federal agency which benefits from a special exemption from rigorous auditing by the General Accounting Office."

The Review also states it has testimony from Rogers that the operation was designed to "purloin the Iraq Central Bank’s assets ahead of the arrival of U.S. troops in Baghdad. This suggests that the operation was designed for a nefarious purpose, rather than to help use it for the rebuilding of Iraq."

After interviewing Rogers and "a number of U.S. intelligence operatives," Story confirmed he received three warnings to stop his investigation.

"I was told that 19 people are very dead as a result of trying to cover what you are exposing," Story wrote in an editorial in the Review.

The Review costs $475 a copy and is one of a small group of titles that Story publishes on financial intelligence for the world banking community.

Gordon Thomas

Upcoming Coverage
View and post events
Upcoming Events UK
24th October, London: 2015 London Anarchist Bookfair
2nd - 8th November: Wrexham, Wales, UK & Everywhere: Week of Action Against the North Wales Prison & the Prison Industrial Complex. Cymraeg: Wythnos o Weithredu yn Erbyn Carchar Gogledd Cymru

Ongoing UK
Every Tuesday 6pm-8pm, Yorkshire: Demo/vigil at NSA/NRO Menwith Hill US Spy Base More info: CAAB.

Every Tuesday, UK & worldwide: Counter Terror Tuesdays. Call the US Embassy nearest to you to protest Obama's Terror Tuesdays. More info here

Every day, London: Vigil for Julian Assange outside Ecuadorian Embassy

Parliament Sq Protest: see topic page
Ongoing Global
Rossport, Ireland: see topic page
Israel-Palestine: Israel Indymedia | Palestine Indymedia
Oaxaca: Chiapas Indymedia
Regions
All Regions
Birmingham
Cambridge
Liverpool
London
Oxford
Sheffield
South Coast
Wales
World
Other Local IMCs
Bristol/South West
Nottingham
Scotland
Social Media
You can follow @ukindymedia on indy.im and Twitter. We are working on a Twitter policy. We do not use Facebook, and advise you not to either.
Support Us
We need help paying the bills for hosting this site, please consider supporting us financially.
Other Media Projects
Schnews
Dissident Island Radio
Corporate Watch
Media Lens
VisionOnTV
Earth First! Action Update
Earth First! Action Reports
Topics
All Topics
Afghanistan
Analysis
Animal Liberation
Anti-Nuclear
Anti-militarism
Anti-racism
Bio-technology
Climate Chaos
Culture
Ecology
Education
Energy Crisis
Fracking
Free Spaces
Gender
Globalisation
Health
History
Indymedia
Iraq
Migration
Ocean Defence
Other Press
Palestine
Policing
Public sector cuts
Repression
Social Struggles
Technology
Terror War
Workers' Movements
Zapatista
Major Reports
NATO 2014
G8 2013
Workfare
2011 Census Resistance
Occupy Everywhere
August Riots
Dale Farm
J30 Strike
Flotilla to Gaza
Mayday 2010
Tar Sands
G20 London Summit
University Occupations for Gaza
Guantanamo
Indymedia Server Seizure
COP15 Climate Summit 2009
Carmel Agrexco
G8 Japan 2008
SHAC
Stop Sequani
Stop RWB
Climate Camp 2008
Oaxaca Uprising
Rossport Solidarity
Smash EDO
SOCPA
Past Major Reports
Encrypted Page
You are viewing this page using an encrypted connection. If you bookmark this page or send its address in an email you might want to use the un-encrypted address of this page.
If you recieved a warning about an untrusted root certificate please install the CAcert root certificate, for more information see the security page.

Global IMC Network


www.indymedia.org

Projects
print
radio
satellite tv
video

Africa

Europe
antwerpen
armenia
athens
austria
barcelona
belarus
belgium
belgrade
brussels
bulgaria
calabria
croatia
cyprus
emilia-romagna
estrecho / madiaq
galiza
germany
grenoble
hungary
ireland
istanbul
italy
la plana
liege
liguria
lille
linksunten
lombardia
madrid
malta
marseille
nantes
napoli
netherlands
northern england
nottingham imc
paris/île-de-france
patras
piemonte
poland
portugal
roma
romania
russia
sardegna
scotland
sverige
switzerland
torun
toscana
ukraine
united kingdom
valencia

Latin America
argentina
bolivia
chiapas
chile
chile sur
cmi brasil
cmi sucre
colombia
ecuador
mexico
peru
puerto rico
qollasuyu
rosario
santiago
tijuana
uruguay
valparaiso
venezuela

Oceania
aotearoa
brisbane
burma
darwin
jakarta
manila
melbourne
perth
qc
sydney

South Asia
india


United States
arizona
arkansas
asheville
atlanta
Austin
binghamton
boston
buffalo
chicago
cleveland
colorado
columbus
dc
hawaii
houston
hudson mohawk
kansas city
la
madison
maine
miami
michigan
milwaukee
minneapolis/st. paul
new hampshire
new jersey
new mexico
new orleans
north carolina
north texas
nyc
oklahoma
philadelphia
pittsburgh
portland
richmond
rochester
rogue valley
saint louis
san diego
san francisco
san francisco bay area
santa barbara
santa cruz, ca
sarasota
seattle
tampa bay
united states
urbana-champaign
vermont
western mass
worcester

West Asia
Armenia
Beirut
Israel
Palestine

Topics
biotech

Process
fbi/legal updates
mailing lists
process & imc docs
tech