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Profile: Khalid bin Mahfouz

 
  

Positions that Khalid bin Mahfouz has held:



 

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Khalid bin Mahfouz actively participated in the following events:

 
  

1988: Bin Ladens Bail Out George W. Bush?      Complete 911 Timeline

      
Bush during his Harken days.
Prior to this year, President George W. Bush is a failed oilman. Three times, friends and investors have bailed him out to keep his business from going bankrupt. However, in 1988, the same year his father becomes president, some Saudis buy a portion of his small company, Harken, which has never performed work 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 the Wall Street Journal in 1991 states it “raises the question of ... an effort to cozy up to a presidential son.” Two major investors in Bush's company during this time are Salem bin Laden and Khalid bin Mahfouz. [Salon, 11/19/01; Intelligence Newsletter, 3/2/00] Salem bin Laden is Osama's oldest brother; Khalid bin Mahfouz is a Saudi banker with a 20 percent stake in BCCI. The bank will be shut down a few years later and bin Mahfouz will have to pay a $225 million fine (while admitting no wrongdoing) (see October 2001)). [Forbes, 3/18/02]
People and organizations involved: Harken, Salem bin Laden, George W. Bush, Khalid bin Mahfouz
          

August 15, 2002: Relatives File Lawsuit Against Alleged Saudi al-Qaeda Financiers      Complete 911 Timeline

      
Deena Burnett, wife of Flight 93 passenger Tom Burnett, speaks on behalf of the victims' relatives suing the Saudis.
More than 600 relatives of victims of the 9/11 attacks file a 15-count, $1 trillion lawsuit against various parties they accuse of financing al-Qaeda and Afghanistan's former Taliban regime. (The number of plaintiffs will increase to 2,500. Up to 10,000 were eligible to join this suit. [Newsweek, 9/13/02] ) The defendants include the Saudi Binladin Group (the company run by Osama bin Laden's family), seven international banks, eight Islamic foundations and charities, individual financiers, three Saudi princes, and the government of Sudan. [CNN, 8/15/02; Washington Post, 8/16/02] Individuals named include Saudi Defense Minister Prince Sultan, former Saudi intelligence chief Prince Turki al-Faisal, Yassin al-Qadi, and Khalid bin Mahfouz (Mahfouz denies supporting terrorism and has filed a motion to dismiss the complaint). [Associated Press, 8/15/02; MSNBC, 8/25/02] “The attorneys and investigators were able to obtain, through French intelligence, the translation of a secretly recorded meeting between representatives of bin Laden and three Saudi princes in which they sought to pay him hush money to keep him from attacking their enterprises in Saudi Arabia.” [CNN, 8/15/02] The plaintiffs also accuse the US government of failing to pursue such institutions thoroughly enough because of lucrative oil interests. [BBC, 8/15/02] Ron Motley, the lead lawyer in the suit, says the case is being aided by intelligence services from France and four other foreign governments, but no help has come from the Justice Department. [Minneapolis Star-Tribune, 8/16/02] The plaintiffs acknowledge the chance of ever winning any money is slim, but hope the lawsuit will help bring to light the role of Saudi Arabia in the 9/11 attacks. [BBC, 8/15/02] A number of rich Saudis respond by threatening to withdraw hundreds of billions of dollars in US investments if the lawsuit goes forward. [Daily Telegraph, 8/20/02]
People and organizations involved: Khalid bin Mahfouz, Osama bin Laden, Yassin al-Qadi, Turki bin Faisal bin Abdul Aziz al Saud, US Department of Justice, Ron Motley, Taliban, Sultan bin Abdul Aziz Al Saud, United States, Sudan, Saudi Binladin Group, al-Qaeda
          

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