1973; 51 years ago (1973) in Sydney, New South Wales, Australia
Defunct
1980 (1980)
Nugan Hand Bank was an Australian merchant bank that collapsed in 1980 after the suicide of one of its founders, Australian lawyer Francis John Nugan, resulting in a major scandal.[1] News stories suggested that the bank had been involved in illegal activities, including drug smuggling, arranging weapons deals, and providing a front for the United States Central Intelligence Agency. Speculation grew when it became known that the bank had employed a number of retired United States military and intelligence officers, including former CIA director William Colby.
Investors' losses and the speculation surrounding the bank's activities led to three major government investigations over the next five years. The bank's co-founder, American Michael Jon Hand, and two other bank employees were indicted for conspiring to pervert the course of justice by destroying or removing bank records. Hand fled overseas in June 1980. In 1985, a Royal Commission of Inquiry found that while the bank had committed numerous violations of banking laws, the allegations of drug-smuggling, arms dealing and involvement in CIA activities were not substantiated.[2][3]
^Pilger, John, A Secret Country, Vintage Books, London, 1992, ISBN 978-0-09-915231-6, pp. 208, 209–12, 231, 307, 318.
^"Royal commission report: Nugan Hand 'not into drugs, arms'". The Canberra Times. ACT. 28 November 1985. p. 8. Retrieved 3 May 2015.
^Final report of the Royal Commission of Inquiry into the Activities of the Nugan Hand Group (Report). Vol. 2. Sydney: Government Printer. 1985. pp. 859, 930, 744.
an Australian lawyer and merchant banker known for co-founding the NuganHandBank. Frank's father, Alfred Neugarten, was born to Jewish parents in Germany...
Michael Jon Hand (8 December 1941–November 2020) was a US ex-Green Beret known for co-founding the NuganHandBank. He has more recently been the owner...
convictions for drug trafficking and fraud. He was implicated in the NuganHandBank scandal and associated with leading figures in the American Mafia,...
allegedly did work for the infamous Sydney-based NuganHandBank as a private investigator, assisting the bank in covering their fraudulent business activities...
including involvement in the CIA-connected Sydney, Australia-based NuganHandBank in the 1970s. He settled in Sydney in 1967, and founded several bars...
scandal. Led to William Agee's ouster Mutual-fund scandal (2003) Nestlé NuganHandBank Olympus Scandal Options backdating involving over 100 companies Pacific...
August 29, 2016. Retrieved July 3, 2016. Owen, J. Sleight of Hand : The $25 million NuganHandBank Scandal; Balmain, Sydney, Australia: Colporteur Press, 1983...
Calvi. The Cisalpine Bank* seems to have also been laundering heroin profits through the NuganHandBank for the Grey Wolves. The bank was involved with...
Politics of Heroin by Alfred W. McCoy, in a chapter summarising the NuganHandBank it is mentioned that Askin and Saffron regularly had dinner together...
Bodenheimer and Robert Gould, Shackley was linked to the Australian NuganHandBank where heroin trade profits worth millions of dollars were transferred...
Gasinskaya defects from Russian cruise ship in red bikini. 1980 Collapse of NuganHandBank. Publication of the first of Peter Corris's Cliff Hardy detective novels...
also the author of several books on subjects which ranged from the NuganHandBank scandal to a biography of Pope John Paul II. Kwitny's career in journalism...
'Golden Triangle'". Anthony Poshepny Bank of Credit and Commerce International First and Second Opium Wars NuganHandBank Opium production in Afghanistan...
Bank of Credit and Commerce International (BCCI) Castle Bank & Trust (Bahamas) CIA transnational anti-crime and anti-drug activities NuganHandBank Anthony...
the State Government after a number of directors were linked to the NuganHandBank. It was also at this time that Kisho Kurokawa was brought on board...
Asia through crime syndicates in collaboration with members of the NuganHandBank and the C.I.A. Subsequently, drug use increased in the 1960s and 1970s...
boss Abe Saffron and of being involved in drug trafficking with the NuganHandBank. Abeles admitted to having common business interests with US West Coast...
the bugs in Trevor Haken's car. The recordings showed very clearly the handing over of large amounts of cash and discussion of bribes and corrupt activities...
companies had issues with fraudulent accounting practices, including NuganHandBank, Phar-Mor, WorldCom, and AIG. One of the most widely reported violation...
Royal Commission". Royal Commission of Inquiry into the activities of the NuganHand Group (1985) Royal Commission into the former Chelmsford Private Hospital...
Melbourne's underground railway loop is opened. 27 January – Frank Nugan of the failed NuganHandBank is found dead at the wheel of his Mercedes by police at Lithgow...
addicts. The Royal Commission concluded on 31 October, when the report was handed to the governor in the Premier's Office. Royal Commission of Inquiry into...
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