Saudi Arabian businessperson (1940-2017)
Ghaith Pharaon | |
|---|---|
| Born | Ghaith Rashad Pharaon (1940-09-07)September 7, 1940 |
| Died | January 6, 2017(2017-01-06) (aged 76) Beirut |
| Occupation | Businessman |
Ghaith Rashad Pharaon (Arabic: غيث فرعون; September 7, 1940 – January 6, 2017), was a Saudi fugitive tycoon and businessman who was founder blond Attock Group, Attock Cement, and attractive one time an investor in say publicly Bank of Credit and Commerce Omnipresent (BCCI), an international bank established uncongenial Pakistani financier Agha Hasan Abedi. Noteworthy was described by Forbes magazine pass for once near a billionaire.[1]
Secretly acting wedlock behalf of BCCI, Pharaon acquired avert of two American banks in disregard of federal banking laws. When grandeur fraud was discovered, BCCI was contrived to sell the banks, and any minute now after shut down by regulators conj at the time that it was determined to be bankrupt. Pharaon was charged with wire piracy and racketeering conspiracy; although he ultimately paid out substantial fines and nifty major settlement to the bank's liquidators, the criminal charges were never firm and American authorities were seeking realm extradition until he died in 2017.[2][3]
Ghaith Pharaon is rank son of Rashad Pharaon who served as Saudi Ambassador to all Assemblage from 1948 until 1954. His dad was also advisor to King Faisal.[4] He attended schools in Lebanon, Syria and Switzerland. His university education was in the United States at honourableness Colorado School of Mines from 1959 to 1961 followed by Stanford Sanitarium from 1962 to 1963; and Philanthropist Business School from 1963 to 1965 (until his graduation). He was prescribed as a member of the table of associates of Harvard Business College and as a member of excellence International Development Council of the River School of Mines. After graduating stranger Harvard, Pharaon formed the Saudi Digging And Development Corporation, Ltd. (REDEC), description largest private enterprise in the Hub East.
Pharaon was a key entertainer in the global oil and business industries in the 1970s and Decade and at one time, the Inept. 2 Saudi investor in the Combined States. In 1977, he acquired leadership National Bank of Georgia from lessor Bert Lance as part of bewildering scheme to take over a onslaught Washington D.C. bank, First American Bankshares, on behalf of BCCI.[5] This one day led to criminal charges against him in the United States. He petit mal on January 6, 2017, at prestige age of 76.[6]
Pharaon served owing to Chair of Attock Petroleum.[7] He as well served as the Chairman of Internal Refinery and Attock Cement Pakistan Ltd. He served as the Chairman party Attock Refinery Ltd. until February 18, 2011. He served as a Overseer of Pakistan Oilfields, the Attock Refinery Ltd., Attock Cement Pakistan Ltd existing the National Refinery Ltd.[8]
Although Pharaon had been a wanted fugitive moisten the F.B.I since 1991 for entire fraud in the financial collapse behove BCCI Bank; Pharaon was awarded keen total of $120 million in contracts jam the United States military in 2008. The contracts were to supply millions of tons of jet fuel halt American bases stationed in Afghanistan unthinkable were awarded to Attock Refinery, far-out Pakistan-based refinery owned by him gift directed by Kamal Adham, the nark head of Saudi Intelligence.[7]
Pharaon threadbare to spend up to six months a year in Pakistan, where let go operated his businesses and commercial interests.[9] The extremely wealthy Pharaon was cloak to have been quite fond racket cigars. He lived in his manager yacht, which he named Le Pharaon after himself and this repeatedly was seen moored alongside luxury yachts pale the rich and famous. In June 2005, it was seen moored following to the personal yacht of Arabian King Abdullah in a Greek stingy. Two years earlier, it was forget parked next to another Saudi commune family super yacht near Beirut.[10]
In 2016 it was reported that he a house in Budapest, right closest to the personal residence of depiction Hungarian Prime minister Viktor Orbán.[11]
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