[ FINAL REPORT OF THE INDEPENDENT COUNSEL FOR IRAN/CONTRA MATTERS //
            Lawrence E. Walsh, Independent Counsel // August 4, 1993, Washington, D.C. //
            Volume I: Investigations and Prosecutions ]

Chapter 9

United States v. Richard V. Secord



Footnotes

1 The Secord guilty plea was obtained through the work of Associate Counsel Reid Weingarten, William Hassler and Antonia Ianniello, who would have prosecuted the case had it gone to trial.
2 The name "Korel" has no particular significance. Secord rejected Zucker's first recommendation, a company known as "Homel General," apparently because it could have suggested a reference to Secord's military rank.
3 The documents signed by Secord included a standard Swiss Fiduciary Agreement and three Mandatory Agreements authorizing Zucker to invest funds and otherwise act on behalf of Korel. The Fiduciary Agreement defines Secord as "mandator," and begins by stating: "WHEREAS the Mandator is the principal shareholder of KOREL ASSETS INC."
4 Secord, Clines Trial Testimony, 9/5/90, p. 193.
5 Secord, OIC Interview, 3/9/88, pp. 106-07.
6 Secord, Grand Jury, 1/22/88, pp. 150-51.
7 Ghorbanifar, OIC Deposition 12/10/87, p. 94.
8 Zucker, FBI 302, 12/12-18/87, p. 24.
9 Haskell, FBI 302, 7/6-7/87, p. 14.
10 David Morabia, his father Elliot and his mother Nan assisted Zucker in laundering cash deliveries to various U.S. clients. See Other Money Matters chapter.
11 In February 1987, Secord appeared before the Grand Jury investigating Iran/contra and refused to testify. In March, he appeared before U.S. District Chief Judge Aubrey E. Robinson, Jr., in response to a corporate subpoena and denied having custody of Enterprise records. Otherwise, Secord did not respond to OIC inquiries during early 1987.
12 See North chapter.
13 North was convicted in 1989 of accepting an illegal gratuity -- the home-security system -- from Secord. This conviction was overturned on appeal.
14 North, North Trial Testimony, 4/10/89, pp. 7150-51.
15 Zucker, FBI 302, 11/6-10/87, pp. 4-5.



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