Researchers and investigators have uncovered links between a Miami bank that collapsed in 2002 amid a fraud scandal that was highlighted by billions of dollars in questionable cash and fraudulent loans and money movements linked to the Bush family and businesses linked to funding pilot training for the 9-11 hijackers.

After the collapse of Hamilton Bank of Miami, the Federal Deposit Insurance Corporation (FDIC), an entity that WMR has reported has been transformed by the Bush administration from a regulatory agency into an investment center, and the Israel Discount Bank assumed liability for the insured accounts. The FDIC assumed liability for half the accounts and the Israel Discount Bank took over the other half. Three Hamilton branches were reopened by the Israeli bank as "IDC." Insiders report that Hamilton Bank was involved in joint (and possibly rogue) U.S.-Israeli intelligence and money laundering operations.

In 2002, The Miami Herald reported that bags of cash from Latin American political leaders would routinely be flown to Hamilton Bank for money laundering. The Herald reported that one of Hamilton's customers was then-Panamanian President Mireya Moscoso. Hamilton maintained an office in Panama. According to court documents filed by the Office of the Comptroller of the Currency, Hamilton's dubious loans to Maximo Haddad, the owner of the Mexican construction firm PYCSA that built a private toll road in Panama and the owner of two offshore companies, Perpetual International Holdings and Alderly Management; Manuel Cohen, the Panamanian Consul General in Miami and the managing director of Alexander H Finance Co.; failed banks in El Salvador and Ecuador; Metrobank International (Vanuatu); Metrobank Panama, and a Florida drapery and window covering firm with subsidiaries in Texas, Venezuela, Brazil, El Salvador, Australia, Mexico, Spain, and Puerto Rico "appeared to have no legitimate business purposes.'' Hamilton Bank has been described by intelligence insiders as a front operation for intelligence-related activities that may include, in addition to money laundering, weapons and drug smuggling.

As previously reported by WMR last July (Intelligence Whispers),

"In 1995, a $10 million transfer was made to Houston. The source was the Saudi Royal family. The funds were transferred to Nations Bank via Banca Svizzera Italiana via SWIFT. On September 28, 1995, a $50,000 check was cashed at Nation's Bank of Pasadena, Texas. It allegedly originated from the $10 million of transferred funds from Saudi Arabia and the payee was "Fayyaz Ahmed." Fayyaz Ahmed, aka Fayez Ahmad, was also named as one of the hijackers aboard United 175 that crashed into the South Tower of the World Trade Center . . . The account from which the $50,000 was paid was in the name of Treatment Services of the Southwest Corporation, 14359 Torrey Chase Blvd., Suite D Houston TX 77014-1635, in North Harris County --check number 266-406556-1; Tax ID # 76-0455993. Much of the funds eventually ended up in Phoenix, later the location of some of the 911 hijacker trainees. Ahmad also used the aliases Banihammad Fayez Abu Dhabi Banihammad, Fayez Rushed Ahmed, Banihammad Fayez, Rasid Ahmed Hassen Alqadi, Abu Dhabi Banihammad Ahmed Fayez, with the FBI officially tagging him as one Fayez Rashid Ahmed Hassan al Qadi Banihammad. Fayyaz Ahmed had been a resident of Delray Beach, Florida. The FBI later said that the "Fayyaz Ahmed" who cashed the check in Pasadena was merely a student paying for college tuition but the note on the check states "contingent for travel expenses." Dallas, Texas was also one of the locations used by the hijackers for flight simulator training. One of the flight training "tasks," the hijackers trained to do was to maneuver planes between World Trade Center 1 and 2.

According to information recently obtained by WMR, the facts about the money transfer are maintained in the Superior Court of Arizona, Maricopa County, "In the Matter of the Proceeds of Account 41C-07029 RDC Holdings Co. , Inc." The FBI in Arizona has investigated the case but may be under pressure not to follow certain leads that could lead to the Bush family and their business associates.

According to a source close to the case, the $10 million was moved from Bluelake World SA, a Switzerland-based firm, via Topaz Liberty and Andromeda International (both Panamanian firms), to the account of Southwest Services of Houston, the account from which Fayyaz Ahmed was paid $50,000. Another intermediary for the funds transfer was reportedly Hamilton House of Nassau, Bahamas, a possible off-shore entity of Hamilton Bank in Miami. The financial network that moved the $10 million to Arizona and Texas reportedly has close links to Potomac Capital, a Geneva-based entity set up by CIA Director George H. W. Bush in 1976.

The Bush financial networks involved with Metrobank and Hamilton also involve the entry of illegal foreign money into the 2004 Bush-Cheney campaign. See November 2004 article.

This letter, sent to the Senate and House Intelligence Committees' ranking members, is also germane to the issue of U.S. support for Saudi terrorists.