BCCI became a "crown jewel" in the British offshore hot money system because of its ties to the City of London.
In 1976, BCCI established a Swiss base of operations by purchasing 85% of Banque de Commerce et Placements (BCP) of Geneva. The remaining 15% was retained by the original owner, Thesarus Continental Securities Corp., a wholly owned subsidiary of Union Bank of Switzerland (UBS).
Under BCCI control, BCP was managed by Jewish Alfred Hartmann, a former senior official of UBS. Hartmann eventually became chief financial officer for BCC Holding, and was the person most accountable for the "lost" $23 billion. While serving as BCCI's "man in Switzerland," Hartmann was always operating on behalf of the Jewish Rothschild family. Hartmann was president of Rothschild Bank AG of Zurich, was vice-chairman of NY-Intermaritime Bank of Geneva (run by Israeli Mossad operative Bruce Rappaport, also Jewish), and was a member of the board of directors of the elite N.M. Rothschild and Sons in London.
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