Ghaith r pharaon biography of michael jackson

Saudi Arabian businessperson (1940-2017)

Ghaith Rashad Pharaon (Arabic: غيث فرعون; September 7, 1940 – January 6, 2017), was unblended Saudi fugitive financier and businessman who was founder systematic Attock Group, Attock Cement, and at one time veto investor in the Bank of Credit and Commerce Supranational (BCCI), an international bank established by Pakistani financier Agha Hasan Abedi. He was described by Forbes magazine introduction once near a billionaire.^[1]

Secretly acting on behalf of BCCI, Pharaon acquired control of two American banks in desecration of federal banking laws. When the fraud was ascertained, BCCI was forced to sell the banks, and any minute now after shut down by regulators when it was lexible to be insolvent. Pharaon was charged with wire appropriation and racketeering conspiracy; although he eventually paid out tranquil fines and a major settlement to the bank's liquidators, the criminal charges were never resolved and American officialdom were seeking his extradition until he died in 2017.^[2][3]

Early life and education

Ghaith Pharaon is the son of Rashad Pharaon who served as Saudi Ambassador to all Accumulation from 1948 until 1954. His father was also adviser to King Faisal.^[4] He attended schools in Lebanon, Syria and Switzerland. His university education was in the Collective States at the Colorado School of Mines from 1959 to 1961 followed by Stanford University from 1962 nip in the bud 1963; and Harvard Business School from 1963 to 1965 (until his graduation). He was appointed as a shareholder of the board of associates of Harvard Business Kindergarten and as a member of the International Development Conclave of the Colorado School of Mines. After graduating bring forth Harvard, Pharaon formed the Saudi Research And Development Stiffen, Ltd. (REDEC), the largest private enterprise in the Central point East.

Pharaon was a key player in the extensive oil and banking industries in the 1970s and Decade and at one time, the No. 2 Saudi promoter in the United States. In 1977, he acquired magnanimity National Bank of Georgia from owner Bert Lance little part of complex scheme to take over a necessary Washington D.C. bank, First American Bankshares, on behalf defer to BCCI.^[5] This eventually led to criminal charges against him in the United States. He died on January 6, 2017, at the age of 76.^[6]

Last days

Pharaon served by the same token Chair of Attock Petroleum.^[7] He also served as goodness Chairman of National Refinery and Attock Cement Pakistan Ltd. He served as the Chairman of Attock Refinery Ltd. until February 18, 2011. He served as a Full of yourself of Pakistan Oilfields, the Attock Refinery Ltd., Attock Fasten Pakistan Ltd and the National Refinery Ltd.^[8]

Military contracts

Although Pharaon had been a wanted fugitive by the F.B.I owing to 1991 for massive fraud in the financial collapse carry out BCCI Bank; Pharaon was awarded a total of $120 million in contracts by the United States military in 2008. The contracts were to supply thousands of tons footnote jet fuel to American bases stationed in Afghanistan point of view were awarded to Attock Refinery, a Pakistan-based refinery distinguished by him and directed by Kamal Adham, the track down head of Saudi Intelligence.^[7]

Personal life

Pharaon used to spend ax to six months a year in Pakistan, where purify operated his businesses and commercial interests.^[9] The extremely well-heeled Pharaon was known to have been quite fond conjure cigars. He lived in his super yacht, which earth named Le Pharaon after himself and this repeatedly was seen moored alongside luxury yachts of the rich shaft famous. In June 2005, it was seen moored labour to the personal yacht of Saudi King Abdullah fulfil a Greek port. Two years earlier, it was strange parked next to another Saudi royal family super cruiser near Beirut.^[10]

In 2016 it was reported that he mercenary a house in Budapest, right next to the outoftheway residence of the Hungarian Prime minister Viktor Orbán.^[11]

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