Prior to this year, George Bush Jr. was a failed oil man. Three times friends and investors have bailed him out to keep him from going bankrupt. But in this year, the same year his father becomes President, some Saudis buy a portion of his small company, Harken, which has never done business outside of Texas. Later in the year, Harken wins a contract in the Persian Gulf and starts doing well financially. These transactions seem so suspicious that even the Wall Street Journal, in 1991, states it "raises the question of ... an effort to cozy up to a presidential son." Two major investors into Bush's company
during this time are Salem bin Laden, Osama bin Laden's father, and Khaled bin Mahfouz. 11/19/01, Intelligence Newsletter, 3/2/00] Khaled bin Mahfouz is a Saudi banker with a 20% stake in BCCI, a bank that will go bankrupt a few years later in the biggest corruption scandal in banking history
(see July 5, 1991). In 1999 Mahfouz will be placed under house arrest in Saudi Arabia for contributions he gave to welfare organizations closely linked to bin Laden. The sister of Mahfouz is married to Osama bin Laden.
June 4, 1992:
It is reported that the FBI is investigating the connections between James Bath and George Bush Jr.
Bath is Salem bin Laden's official representative in the US. "Documents indicate that the Saudis were using Bath and their huge financial resources to influence US policy," since Bush Jr.'s father is president. Bush denies any connections to Saudi money. What became of this investigation is unclear.
A Saudi government audit shows that five of Saudi Arabia's billionaires have been giving tens of millions of dollars to al-Qaeda. The audit shows that these businessmen transferred money from the National Commercial Bank to accounts of Islamic charities in London and New York banks that serve
as fronts for bin Laden. $3 million was diverted from a Saudi pension fund. The only action taken by the Saudis is that Khalid bin Mahfouz, founder of National Commercial Bank, Saudi Arabia's biggest bank, is placed under house arrest. Bin Mahfouz had invested in George Bush Jr.'s businesses starting in 1989. The US has not frozen the accounts of bin Mahfouz, and he continues to engage in major oil deals with US corporations.
January 21, 2001:
George Bush Jr. is inaugurated as the 43rd US President, replacing Clinton. The only major figure to permanently remain in office is CIA Director Tenet, appointed in 1997 and reputedly a long time friend of Bush Sr. FBI Director Louis Freeh stays on a few more months, until June 2001. Numerous figures in Bush's administration are directly connected to the oil industry. Over 50 of Bush's new staff are later shown to have worked for Enron.