Ghaith r pharaon biography of barack

The former owner of the Ford Plantation in Richmond Hill, controversial Saudi businessman Ghaith Pharaon, died Jan.

6 of this year in Beirut, Lebanon.

Pharaon, who purchased the Ford property in 1981 for $3.6 million, was prosecuted with U.S. authorities for violating federal banking laws after it was discovered he had secretly acquired control of two U.S.

banks while he was an investor in BCCI (Bank of Credit and Commerce International). BCCI was forced to sell the banks and later closed shut downdue to insolvency.

Pharaon was charged with wire fraud and racketeering conspiracy.

As a result, The Harvard graduate was fined $37 million by the Federal Reserve for his role in secretly taking over the banks.

And while Pharaon paid fines and a settlement to the bank’s liquidators, charges remained in effect until his death.

He lived abroad while U.S. authorities sought his extradition.

Pharaon was last seen in the United States in March 1991