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WASHINGTON () -- Former top BCCI executive Swaleh Naqvi was sentenced Wednesday to more than 11 years in prison for his role in the Bank of Credit and Commerce International scandal.
In July, Naqvi pleaded guilty to three criminal charges of fraud and conspiracy. He admitted he engaged with other BCCI officials in a racketeering conspiracy to illegally take over several U.S. banks, including First American Bank in the Washington D.C. area.
Naqvi was BCCI's former chief executive officer before the bank, with nearly $24 billion of assets and operations in 71 countries, was shut down three years ago amid allegations it engaged in the largest ever bank fraud.
BCCI Sentencing
20 October 1994
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