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Khalid bin Mahfouz (Arabic: خالد بن محفوظ; born 1949) is a wealthy Saudi Arabian businessman accused of supporting al-Qaeda. The veracity of such accusations is controversial and supported mainly by allegations, as Mahfouz himself claims to "condemn terrorism in all of its forms and manifestations."[1] Khalid bin Mahfouz This work is copyrighted. ...
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Saudi Arabian Airlines (also known as Saudia) is Saudi Arabias domestic and international airline, and one of the largest airlines of the Middle East. ...
Al-Qaeda (Arabic: القاعدة, the foundation or the base) is the name given to a worldwide network of militant Islamist organizations under the leadership of Osama bin Laden. ...
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Biography
Khalid bin Mahfouz is the eldest son of Salim Ahmed bin Mahfouz, a Saudi entrepreneur who rose from being an illiterate moneychanger to the founder of the first bank in his country, the National Commercial Bank of Saudi Arabia (NCB). Salim Ahmed then became the personal banker of the Saudi royal family. He handed management of NCB, the largest bank in the country, to Khalid sometime in the 1980s.[2] Literacy is the ability to use text to communicate across space and time. ...
Jeddah, National Commercial Bank NCB (National Commercal Bank) (Arabic:البنك الأهلي التجاري) is the First Saudi Arabian bank , and been started in year 1953. ...
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In 1990 Khalid bin Mahfouz acquired Irish citizenship through inward-investment procedures. The practices of the Haughey and Reynolds administrations between 1989 and 1994 are a matter of controversy in Ireland and are being investigated by the Moriarty Tribunal, but there is no question that bin Mahfouz acquired his citizenship legitimately under the procedures applicable at the time. This article is about the year. ...
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Albert Reynolds (born November 3, 1932), was the eighth Taoiseach of the Republic of Ireland, serving one term in office from 1992 until 1994. ...
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The Moriarty Tribunal is an Irish tribunal of inquiry into (inter alia): whether substantial payments which might not have been ethical to receive were made to Charles Haughey (Taoiseach during part of the time concerned) and Michael Lowry between 1 January 1979 and 31 December 1996, the source of those...
Bin Mahfouz is married with three children. His personal net worth was $3.2 billion in 2006, making him one of the richest people in the world; his family fortune is worth over $4 billion. He has been involved in various business and charitable organizations throughout his life.[3] Net worth (sometimes net assets) is the total assets minus total liabilities of an individual or company. ...
2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ...
Controversies
BCCI Bin Mahfouz was the director of Bank of Credit and Commerce International, a huge financial conglomerate later convicted of money laundering, bribery, support of terrorism, arms trafficking, and many other crimes.[4] Mahfouz personally owned a 20% stake in BCCI. He was indicted by a New York state grand jury for fraud but denied any culpability. The fraud charges were dropped after Mahfouz agreed to pay $225 million in lieu of fines.[2] BCCI in London was closed by the Bank of England in 1991 after evidence emerged of fraud and money laundering. ...
Money laundering is the practice of engaging in financial transactions in order to conceal the identity, source and destination of the money in question. ...
Bribery is a crime implying a sum or gift given alters the behaviour of the person in ways not consistent with the duties of that person. ...
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Donations to Osama bin Laden in 1988 Craig Unger's book House of Bush, House of Saud claims that bin Mahfouz donated over $270,000 to Osama bin Laden's Islamist organization at the request of Osama's brother Salem bin Laden. Bin Mahfouz's lawyer stated: "This donation was to assist the US-sponsored resistance to the Soviet occupation of Afghanistan and was never intended nor, to the best of Sheikh Khalid's knowledge, ever used to fund any 'extension' of that resistance movement in other countries."[5] Craig Unger is an American journalist and writer. ...
Islamism is a political ideology derived from the conservative religious views of Muslim fundamentalism. ...
Salem M. bin Laden (1946 - May 29, 1988) was a Saudi Arabian investor. ...
Alleged familial relationship with Osama bin Laden In US Senate testimony in 1998, CIA Director James Woolsey stated that bin Mahfouz's sister is a wife of Osama bin Laden, making the two brothers-in-law. Bin Mahfouz has consistently denied this. Many publications, including the Wall Street Journal, the LA Times, Fortune Magazine, the Washington Post, and USA Today, reported that the two were brothers-in-law. Each publication has since issued a retraction, sometimes after lengthy litigation. Seal of the U.S. Senate The United States Senate is one of the two chambers of the Congress of the United States, the other being the House of Representatives. ...
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Osama bin Muhammad bin Awad bin Laden (Arabic: ‎; born March 10, 1957 [1]), most commonly known as Osama bin Laden is a militant Islamist and one of the founders of al-Qaeda. ...
The Wall Street Journal is an influential international daily newspaper published in New York City, New York with an average daily circulation of 1,800,607 (2002). ...
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In the libel trial against Wall Street Journal, Woolsey testified that bin Mahfouz had been misidentified. Woolsey later stated, "I don't know what to say other than there was some confusion, but I never meant to refer to Bin Mahfouz's sister."[6]
Alleged NCB funding of al-Qaeda Khalid bin Mahfouz has denied that NCB, his bank, was involved in funding an al-Qaeda group. According to reports, high-placed Saudi businessmen transferred millions of dollars through NCB to charities operating as fronts for al-Qaeda. Mahfouz states that he could not have been aware of every wire transfer moving through the bank, and that he would not have allowed such transactions had he known they were taking place. There is no evidence that Mahfouz was personally involved in any of these transactions. Al-Qaeda (Arabic: القاعدة, the foundation or the base) is the name given to a worldwide network of militant Islamist organizations under the leadership of Osama bin Laden. ...
Additionally, Forbes reports:
[I]n 1999 the [Saudi] government stepped in, buying a controlling 50% stake of NCB from Khalid for at least $1 billion, partly used to wipe Khalid's debt from the books. Khalid and his family retained 34% ownership, but he again surrendered his management positions. . . The extent of Khalid's mismanagement at NCB remains shrouded. NCB has not issued audited numbers since 1998, but it did acknowledge last year that provisions for bad loans in 1999 and 2000 reached $934 million, covering 86% of its doubtful debt.[2] NCB senior officials vehemently deny the existence of this audit.[7]
Muwaffaq Foundation Khalid bin Mahfouz helped set up a charity organization called the Muwaffaq Foundation, Muwaffaq being Arabic for "blessed relief". He funded this charity with $30 million, and put his eldest son, Abdulrahman bin Mahfouz, on the board of directors. In October of 2001, the U.S. Treasury Department named Muwaffaq an al-Qaeda front organization. Neither Khalid nor Abdulrahman were accused of funding terrorism by the United States; however Yasin al-Qadi, a Saudi Arabian man hired to run the charity, was named a supporter of terrorism by and had his assets frozen by the U.S. Treasury Department.[2] Khalid bin Mahfouz claims that he was not aware of the charity being used to fund terrorists. He has initiated an investigation of his own into Muwaffaq's activities.[citation needed] A charitable organization (also known as a charity) is a trust, company or unincorporated association established for charitable purposes only. ...
The United States Department of the Treasury is a Cabinet department and the treasury of the United States government. ...
A front organization (or organisation), also known as a front group (if it is structured to look like a voluntary association); a front company, a shell corporation or simply a front (if it is structured to look like a company), is any entity set up by and controlled by another...
Ties to George W. Bush Khalid bin Mahfouz inherited many assets from the Saudi Binladen Group when the group's director, Salem bin Laden, died in a plane crash in 1988. Among these was an interest in Arbusto Energy, a Houston oil firm founded by George W. Bush. His holdings were managed by James R. Bath, a close friend to Bush and the former manager of Salem bin Laden's US assets. Salem M. bin Laden (1946 - May 29, 1988) was a Saudi Arabian investor. ...
1988 (MCMLXXXVIII) was a leap year starting on Friday of the Gregorian calendar. ...
Arbusto Energy (sometimes referred to as Arbusto Oil), was a petroleum and energy company formed in Midland, Texas, in 1977, by George Walker Bush and a group of investors which included Dorothy Bush, Lewis Lehrman, William Henry Draper III, Bill Gammell, and James R. Bath. ...
George Walker Bush (born July 6, 1946) is an American businessman and politician, was elected in 2000 as the 43rd President of the United States of America, re-elected in 2004, and is currently serving his second term in that office. ...
James Reynolds Bath was a former director of Bank of Credit and Commerce International (BCCI), and part owner of Arbusto Energy with George W. Bush, with whom Bath served as a member of the Texas Air National Guard. ...
After Arbusto merged into Harken Energy, Mahfouz continued to be tangentially involved in the company's affairs through BCCI representatives. Bush, Harken's CEO at the time, denies any knowledge of his involvement. According to the Modern History Project Mahfouz was the owner of Harken energy.[8] Harken Energy Corporation is an American oil and gas company, having its headquarters in Southlake, Texas. ...
UN designation There have been numerous allegations that Khalid bin Mahfouz was named a terrorist financier by the United Nations. The controversy springs from a report prepared by JCB Consulting Group for the President of the Security Council of the United Nations in December of 2002. In this report Khalid was listed as one of seven "main individual Saudi sponsors of al Qaeda."[9] JCB Consulting claims that the report was issued at the request of the UN, but Alfonso Valdivieso, then president of the UN Security Council, denied commissioning the report in a letter sent to representatives of Mahfouz.[10] Valvdivieoso went on to state that the report was unsolicited and that "Mr Brisard's conduct and attitude is totally deceitful and marked by the intention to mislead."[10] Jean-Charles Brisard, of JCB Consulting, is a paid investigator for a group of 9/11 victims who are suing hundreds of defendants, including Khalid, for allegedly financing al Qaeda.[9] Jean-Charles Brisard and Guillaume Dasquié published in 2001 a french book entitled "La vérité interdite". The United Nations (UN) is an international organization whose stated aims are to facilitate co-operation in international law, international security, economic development, and social equity. ...
A session of the Security Council in progress The United Nations Security Council is the most powerful organ of the United Nations. ...
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References - ^ Sedky, Cherif (2003-02-05). Letter from Cherif Sedky, legal counsel for Khalid bin Mahfouz and his immediate family, to Gunter Pleuger, President of the United Nations Security Council. Retrieved on 2006-06-26.
- ^ a b c d Vardi, Nathan. "Sins of the Father?", The World's Billionaires, Forbes, 2002-03-18. Retrieved on 2006-06-26.
- ^ Kroll, Luisa; Fass, Allison. "Khalid Bin Mahfouz & family", The World's Billionaires, Forbes, 2006-03-09. Retrieved on 2006-06-26.
- ^ Kerry, John; Brown, Hank (December 1992). BCCI in the United States - Part Two: Acquisition, Consolidation, and Consequences. The BCCI Affair, A Report to the Committee on Foreign Relations. United States Senate Committee on Foreign Relations. Retrieved on 2006-06-26.
- ^ David, Leigh. "Bush, the Saudi billionaire and the Islamists: the story a British firm is afraid to publish", Guardian Unlimited, 2004-03-31. Retrieved on 2006-06-26.
- ^ Silverstein, Ken. "Top Investigator in 9/11 Victims' Lawsuit Faces Libel Action", Los Angeles Times, 2003-02-26. Retrieved on 2006-06-26.
- ^ Jackson, David; Cohen, Laurie; Manor, Robert; Salopek, Paul. "Money trail leads to Saudi, U.S. says", Chicago Tribune, 2001-10-28.
- ^ Harken Energy. The Modern History Project. Retrieved on 2006-06-26.
- ^ a b Mowbray, Joel. "Saudis Behaving Badly", National Review Online, 2002-12-20. Retrieved on 2006-06-26.
- ^ a b Valdivieso, Alfonso (2004-03-12). Letter addressed to Kendall Freeman (PDF). Bin Mahfouz Information. Retrieved on 2006-06-26.
2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ...
June 26 is the 177th day of the year (178th in leap years) in the Gregorian Calendar, with 188 days remaining. ...
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2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ...
June 26 is the 177th day of the year (178th in leap years) in the Gregorian Calendar, with 188 days remaining. ...
Forbes Building on Fifth Avenue in New York City Forbes is a publishing and media company. ...
2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ...
June 26 is the 177th day of the year (178th in leap years) in the Gregorian Calendar, with 188 days remaining. ...
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2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ...
June 26 is the 177th day of the year (178th in leap years) in the Gregorian Calendar, with 188 days remaining. ...
Front page of Guardian Unlimited from August 16, 2005 Guardian Unlimited is a British website owned by the Guardian Media Group. ...
2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ...
June 26 is the 177th day of the year (178th in leap years) in the Gregorian Calendar, with 188 days remaining. ...
The Los Angeles Times (also known as the LA Times) is a daily newspaper published in Los Angeles, California and distributed throughout the Western United States. ...
2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ...
June 26 is the 177th day of the year (178th in leap years) in the Gregorian Calendar, with 188 days remaining. ...
The Chicago Tribune is a major daily newspaper based in Chicago, Illinois. ...
2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ...
June 26 is the 177th day of the year (178th in leap years) in the Gregorian Calendar, with 188 days remaining. ...
National Review Online is the online presence of the prominent conservative political magazine National Review. ...
2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ...
June 26 is the 177th day of the year (178th in leap years) in the Gregorian Calendar, with 188 days remaining. ...
PDF is an abbreviation with several meanings: Portable Document Format Post-doctoral fellowship Probability density function There also is an electronic design automation company named PDF Solutions. ...
2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ...
June 26 is the 177th day of the year (178th in leap years) in the Gregorian Calendar, with 188 days remaining. ...
External links - Khalid bin Mahfouz's official site
- The Guardian on Muwafaq
- Sheikhs Khalid and Abdulrahman bin Mahfouz receive apology from authors Jean-Charles Brisard and Guillaume Dasquié
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