ASSOCIATION
FOR ACCOUNTANCY
AND
BUSINESS
AFFAIRS |
In
July 1991, the fraud infested Bank
of
Credit and Commerce International (BCCI) was closed by the Bank of
England.
It was preceded by an investigation and a report titled the "Sandstorm"
Report. Rather than making this report available to the public, the UK
government has chosen to suppress it. Indeed, as information on these
pages
shows the UK government, despite pretension of 'freedom of information'
has no intention of ever letting the public see this report. The sight
of the report would enable legislators to draft better laws. It will
also
enable the victims of the BCCI fraud to secure better redress.
As a matter
of public service, AABA is
making this report publicly available.
You are
advised to read or print the
documents
in the sequence in which they appear.
- TJN's
Prem Sikka has blasted open the BCCI case (14 Sep 2011)
- UK
Treasury loses five-year fight to conceal 40 names linked to collapsed
bank BCCI (10 Sep 2011)
- Bank of
Credit and Commerce International (BCCI) Scandal: UK Government Forced
to Publish the Sandstorm Report (8 Sep 2011)
- After
five-year legal battle, truth about BCCI collapse may finally be
revealed (1 Aug 2011)
- Prem Sikka wins the BCCI Freedom of Information
case: UK government ordered to publish most of the missing information
(25 Jul 2011)
- BCCI
Freedom of Information Case: The arguments made by Prem Sikka for
publication of information (25 Jul 2011)
- Breakthrough
for BCCI “Sandstorm Report” FOI request (21 Jul 2011)
- “SANDSTORM”
PERSONAL DATA AND THE BCCI COLLAPSE (21 Jul 2011)
- The BCCI Affair: A Report to the Committee on
Foreign Relations United States Senate (1 Jul 2011)
- Bank of Credit and Commerce International (BCCI)
Scandal – US Congress Library Archives Part 6 (752 pages)
(30 Jun 2011)
- Bank of Credit and Commerce International (BCCI)
Scandal – US Congress Library Archives Part 5 (997 pages)
(29 Jun 2011)
- Bank of Credit and Commerce International (BCCI)
Scandal – US Congress Library Archives Part 4 (775 pages) (28
Jun 2011)
- Bank of Credit and Commerce International (BCCI)
Scandal – US Congress Library Archives Part 4 - A censored version of
the Sandstorm report which is a state secret in the UK (28
Jun 2011)
- Bank of Credit and Commerce International (BCCI)
Scandal – Confidential repotts by Price Waterhouse on BCCI
accounts (28 Jun 2011)
- Bank of Credit and Commerce International (BCCI)
Scandal – US Congress Library Archives Part 4 - A Declassified CIA
Report on BCCI (28 Jun 2011)
- Bank of Credit and Commerce International (BCCI)
Scandal – US Congress Library Archives Part 3 (755 pages)
(24 Jun 2011)
- Bank of Credit and Commerce International (BCCI)
Scandal – US Congress Library Archives Part 2 (614 pages)
(10 Jun 2011)
- Bank of Credit and Commerce International (BCCI)
Scandal – US Congress Library Archives Part 1 (554 pages) (9
Jun 2011)
- BCCI Scandal – see page 301 for a confidential
report by Price Waterhouse on BCCI Loans (9 Jun 2011)
- BCCI:
UK governemnt considering release of the misisng parts of the
Bingham Report (5 May 2011)
- Long
before its closure in July 1991 Bank of Credit and Commerce
International (BCCI) pleaded guilty to money laundering (2 May 2011)
- BCCI Case: Prem Sikka establishes a new legal
precedent in the UK for freedom of information appeals (29
Mar 2011)
- Urgent
Help Needed - BCCI and Freedom of Information Case (21 Mar 2011)
- Darling
seeks full release of BCCI report (12 Mar 2011)
- Inside
the Global Banking Intelligence Complex, BCCI Operations (17
Oct 2010)
- BCCI:
Britain should release the Sandstorm Report (14 Aug 2010)
- Read
the Report (codenameed Sandstorm) that the UK government refuses to
publish on
the closure of BCCI (14
Aug 2010)
- Read
extracts from Price Waterhouse audit files relating to BCCI (14 Aug
2010)
- First Tier Tribunal Freedom of Information
decision
rejecting Information Commissioners' Appeal and allowing Prem Sikka to
appeal
against refusal to publish the Sandstorm Report relating to BCCI
(19
May 2010)
- First Tier Tribunal Freedom of Information
decision allowing Prem Sikka to proceed with his late appeal for
publication of the Sandstorm Report relating to BCCI (16
April 2010)
- BCCI
insolvency practitioners charged nearly £400 million (17 Jan
2008)
- BCCI
and Sandstorm Report: Some 20 months later the UK government still
won't release information (10 Jan 2008)
- Questions Linger
About Bushes and BCCI (4 Apr 2007)
- UK
government considering releasing secret report on the closure of Bank
of Credit and Commerce International (BCCI) (1 Mar 2007)
- BCCI reform
group to unveil its membership (23 Nov 2006)
- After
BCCI: City meets judges to curb commercial trials (12 Sep 2006)
- Bank
of England Governor lambasts civil law system after BCCI case
(22 Jun 2006)
- BCCI
battle ends after Deloitte agrees to pay (8 Jun 2006)
- Bank of England
has won costs of £73.6m ($136.9m) from Deloitte, the liquidators
of BCCI (7 Jun 2006)
- BCCI &
Barings: Bank Resolutions Complicated by Fraud and Global Corporate
Structure (21 May 2006)
- Creditors
not pursuing Deloitte over BCCI (5 May 2006)
- Price
Waterhouse fined over BCCI audits (20 Apr 2006)
- PwC
Faulted for BCCI Audits (20 Apr 2006)
- BCCI:
auditor hit with £1m in fines and costs
(20 Apr 2006)
- Puny UK Regulator
imposes £975,00 fines and costs on PricewaterhouseCoopers for
BCCI audits (20 Apr 2006)
- Liquidators
stick with PR firms despite judge's BCCI outburst (20 Apr 2006)
- BCCI: UK High Court judge
slates "lamentable" lawyers (19 Apr 2006)
- Judge
Slams BCCI Case Against Bank Of England (17 Apr 2006)
- BCCI:
MP
demands Pollock inquiry (14 Apr 2006)
- BCCI:
It
looks Bleak for Deloitte as judge says case was a load of Pollock
(14 Apr 2006)
- BCCI: After
256 days in court, the judge's verdict: a hopeless,
incoherent farce
(13 Apr 2006)
- BCCI:
Deloitte's drubbing will not be forgotten (13 Apr 2006)
- BCCI:
Deloitte's 12-year case puts Woolf reforms in question (13 Apr 2006)
- BCCI: Rude’
Deloitte lawyer taken to task (13 Apr 2006)
- Judge calls
BCCI case a 'farce' (12 Apr 2006)
- UK
DTI continues its BCCI cover-up (16 Feb 2006)
- UK Judge
backs Bank of England on BCCI costs (1 Feb 2006)
- Bank of
England to launch massive costs claim against BCCI liquidators (30
Jan 2006)
- Liquidators
of BCCI pay £73m to Bank of England and ask for settlement
(31 Jan 2006)
- UK High Court
to decide BCCI costs (30 Jan 2006)
- Deloitte
and Lovells duck costs showdown on BCCI (31 Jan 2006)
- Bank
of England demands up to £80m for BCCI legal costs (22
Jan 2006)
- Deloitte
to be spared BCCI bill (17 Nov 2005)
- Bank
of England bid to claw back BCCI costs (11 Nov 2005)
- Advisers take
flak following BCCI and Equitable flops (10 Nov 2005)
- BCCI:
Old
ladies should stay off high horses (6 Nov 2005)
- Deloitte
should pay dearly for BCCI fiasco (6 Nov 2005)
- Out,
damned BCCI spot (5
Nov 2005)
- Bank
of England to reclaim its £70 million in BCCI costs (4
Nov 2005)
- BCCI
creditors seek UK govt probe into Deloitte's court action
(4 Nov 2005)
- Deloitte's
failed BCCI case against Bank of England cost £100 million (3
Nov 2005)
- Bank
of England moves to recover £75m BCCI legal costs (3 Nov 2005)
- Liquidators
make millions and drop BCCI claim for £850m against Bank of
England (3 Nov 2005)
- BCCI
Scandal
seeped into every corner of Britain (3 Nov 2005)
- Timeline:
BCCI case (3 Nov 2005)
- BCCI: The end
of an epic (2 Nov 2005)
- BCCI
litigation ends as Deloitte, Lovells call halt (2 Nov 2005)
- BCCI
liquidators drop £1bn case (2 Nov 2005)
- Landmark BCCI
battle ends as liquidators abandon court fight (2 Nov 2005)
- No
shame in accountancy world: 14 years after BCCI collapse Price
Waterhouse to face a disciplinary tribunal (5 Oct 2005)
- Equitable
and BCCI's costly and difficult actions (5 Oct 2005)
- Bank
of England turns down BCCI settlement (5 Oct 2005)
- Bank
of England vows to fight £850m BCCI case to the finish (5 Oct
2005)
- Supervisory
chief defends Bank of England over BCCI collapse (27 Sep 2005)
- Bank
of England governor hits out at BCCI case (16 Jun 2005)
- Former
Bank of England head fights back over BCCI handling (14 Jun 2005)
- Bank
of England boss to take stand in £1bn case (13 Jun 2005)
- Row
over BCCI witness numbers
(13 Jun 2005)
- Bank
of England faces £100m bill for BCCI (12 Jun 2005)
- BCCI
- now the Bank of England takes the stand (12 Jun 2005)
- US
Senator Kerry
slams Bank of England on BCCI (19 Dec 2004)
- BCCI
lawyer urges judge: look at the body language (1 Jul 2004)
- Bank
of India ordered to pay US$82mn to BCCI liquidators (20 Mar 2004)
- What
spooks told Old Lady about BCCI (18 Jan 2004)
- Bank
of England 'ran away from BCCI scandal' (14 Jan 2004)
- Bank
of England 'Shut Eyes to Bcci Fraud' (14 Jan 2004)
- Western
Isles Council hopes over BCCI lawsuit (13 Jan 2004)
- Britain's
biggest banking scandal (13 Jan 2004)
- Bank
of England rages as Deloitte chases £850m BCCI lawsuit (12
Jan
2004)
- BCCI
trial puts Bank of England in dock (12 Jan 2004)
- Bank
of England in High Court dock (12 Jan 2004)
- Bank
of England 'will not settle' BCCI case (10 Jan 2004)
- BCCI:
Was Bank of England afraid of 'racist' tag? (4 Jan 2004)
- BCCI
returns to haunt Bank of England (3 Jan 2004)
- BoE
alerted to BCCI fraud risk in 1984 (21 Dec 2003)
- BCCI
Creditors Lose $25 Million State Bank Fraud Claim (31 Jul 2003)
- BCCI
employees settle claim with liquidators (28 Jun 2003)
- More
Bank staff must testify in BCCI trial (8 Jun 2003)
- BCCI
to cost Bank of England £45m (20 May 2003)
- BCCI
liquidators to confront Bank (15 May 2003)
- BCCI's
advisers still rake in fees 12 years on (15 May 2003)
- BCCI
settlement costs top $1.2bn (15 May 2003)
- Spies
hide as Bank faces BCCI charges (20 Jan 2003)
- Bank
of England First time on stand for 300 years (19 Jan 2003)
- UK
Treasury seeks new BCCI gag (6 Oct 2002)
- Treasury
ordered to release BCCI secrets (2 Jun 2002)
- Treasury
in the dock over BCCI (12 May 2002)
- Bank
of Credit and Commerce International: Follow the money (28 Feb 2002)
- Bank
of Credit & Commerce International SA (in compulsory liquidation) v
Ali and others (31 Jan 2002)
- Bank
of Credit and Commerce International SA v Ali and others (No 2): [2002]
EWCA Civ 82 (19 Jan 2002)
- Bank
of Credit and Commerce International - Very Weird Stuff
(16 Sep 2001)
- First
American Bankshares and BCCI (2 May 2001)
- Lessons
from BCCI
- House
of Lords Judgments - Bank of Credit and Commerce International SA (in
Compulsory
Liquidation) v. (1) Munawar Ali, (2) Sultana Runi Khan and Others
(21
Mar 2001)
- BANK
OF ENGLAND CAN BE SUED FOR NEGLIGENCE: HOUSE OF LORDS CASE (21 Mar
2001)
- Bank
of Credit and Commerce International (Overseas) Ltd. v. Akbar et al,
(2001-03-15)
BCCA CA025172;CA026061 (15 Mar 2001)
- I
N THE MATTER OF THE NEW YORK AGENCY &C. OF BANK OF CREDIT AND
COMMERCE
INT'L S.A., &C. THE SUPERINTENDENT OF BANKS OF THE STATE OF NEW
YORK,
&C., RESPONDENT, CITIC INDUS. BANK, APPELLANT. (AND ANOTHER
PROCEEDING.)
(June 1997)
- Bank
of Credit and Commerce International (Overseas) Ltd. v. Gokal,
(1994-11-03)
BCCA CA018471 (3 Nov 1994)
- Bank
of Credit and Commerce International (Overseas) Ltd. v. Gokal,
(1994-04-05)
BCCA CA018471 (5 Apr 1994)
- UK
Parliament Debate (Nov 1992)
- Background
to the BCCI scandal
THE UK
GOVERNMENT'S
SILENCE & CENSORSHIP