RealNews

Albert Hakim, Figure in Iran-Contra Affair, Dies at 66

Albert Hakim, a businessman who wove an intricate web of Swiss bank accounts and dummy corporations in the Iran-contra arms-for-hostages deal, died on Friday in Inchon, South Korea. He was 66. The cause was a heart attack, The Associated Press reported. Mr. Hakim had moved to Inchon several years ago to be near the aging parents of his wife, Soony Oh. In 1990 Mr. Hakim pleaded guilty to a misdemeanor charge of making an illegal payment of $13,800 for a security fence for the home of Lt. Col. Oliver L. North, who was involved in running the program for the Reagan White House. Mr. Hakim was sentenced to two years’ probation and fined $5,000. He had been charged with five felony counts of conspiracy to divert funds to anti-Marxist rebels in Nicaragua and theft of government property for his part in the Iran-contra scheme of the mid-1980’s to sell weapons to Iran at inflated prices and use the profits to supply the rebels, or contras, and pay for other secret operations. As a result of the arms sales, Iran arranged for three American hostages in Lebanon to be freed. Full Story

OODA Analyst

OODA Analyst

OODA is comprised of a unique team of international experts capable of providing advanced intelligence and analysis, strategy and planning support, risk and threat management, training, decision support, crisis response, and security services to global corporations and governments.