19910903a Fbi Memo Maxpharma Solodoff Cocaine

•

FD-36 (Rev. 8-29-85)

•

FBI PRECEDENCE:

TRANSMIT VIA: n Teletype Facsimile

o

o

D

o

iKl AIRTEL

Priority Routine-

UNCLAS

Date

TO

SAC, WMFO (NVMRA)

2

FROM

SAC, SAN FRANCISCO

3

SUBJECT

C'

CLASSIFICATION: TOP SECRET SECRET CONFIDENTIAL UNCLAS EFT 0

o ,0 o o o

Immediate

1

YI

9/3/91

(29B-WF-171994)~(RUC)

(196A-SF-93255):::.

HIDDEN INTEREST, ' ,MAJOR CASE 38

4

.....11 b7 C

=--::-:::--

ET ALi

5 6

FIF, FAG; 00: WMFO

7

Title changed add HIDDEN INTEREST, MAJOR CASE 38.

8

RE Teletype from DIRECTOR FBI to ALL FIELD OFFICES dated July 26, 1991.

9

Enclosed for WMFO-NVMRA are: one copy of letter from I ~ a copy of CONNIE C. ARMSTRONG, JR.'s petition dated February 16, 1989 and a copy of the September 3, 1991 Oakland Tribune article referencing BCCI. b7C

10

11 12

13 14

15

I

I

This office has received a letter from I I lalleging financial connections between HAMILTON TAFT COMPANY, I I CONNIE C. ARMSTRONG, JR.J

I

land the

BANK OF CREDIT AND COMMERCE, INTERNATIONAL (Bee!). The letter was supposedly mailed to your division in August of 1991.

16

(

/)

\ ....:.-(

II}/!'

17

/

/'

l}j

,., i

/lI./ I if - .'

t.)l
,

JO!lj

18

wI1~8° f~) (~~cf';~~i'es

>J' ......- - ;

[i

't::yr'\)

1/

/

•

~!.l,,)'tl d

/li [.j

y(

J !

/iJeil

;~ III //J '\

19

2 -

20

2 - SAN FRANCISCO (1 - 29B-WF-171994; 1 - 196A-SF-93255 Sub F) WLH/wlh

21

±

Approved:

-

_

3)

•

"

I is one of the complainants of our investigation of HAMILTON TAFT COMPANY (RT). HT is a payroll tax service company that calculated various local, state and federal payroll tax liabilities and made payment to the various governments for clients for a small fee and temporary short term use of the tax deposits (float). HT grossed over a $3 bil~i~~ dclla~s in tax payments in 1990.

t1at

It has been alleged HT 0jfiCerS since being b7C purchased by MAXPHARMA (owned by in 1988 have been using the clients tax deposits into HT for personal gain and did not make the appropriate tax payments as stipulated in contracts between HT and HT's clients. As of March of 1991 HT has been forced into involuntary bankruptcy by the clients of HT and a wire/mail fraud investigation is on going by this office.

I:;O!Oi;f,-JiJ! I was fired as comptroller from HT in ( / February of 1991 uUfor an alleged cocaine habit. I 5/)/0(111/'/1 I is !AI.; currently seeking to collect a reward from the Intern:al :;/J}!!1').-;::;;;; Revenue Service (IRS) for any tax losses that were prevented .. c9,j Up .!..O ~is .E oint the federp.l government has E9.t rec:ognized ~y 1:f~ ~/7l .);;;" d/' "Fax losses due to the non -payme.nt ..!rl....HT of HT I S cllent taxes.-~; 7>1/./ ;IThe unpaid tax liabilities are being applied to the taxpayers ;.:,Ii,>;/,,,, '-;'--<;,12/themselves. HT was a agent for their clients and the ultimate responsibilities for unpaid taxes is believed to fall upon HT clients. J

Collected through this division's investigation of HAMILTON TAFT COMPANY and enclosed for your examination is ARMSTRONG, JR.'s petition to the Dallas county court dated 2/16/89 to apply for a temporary restraining order, ex parte, permanent injunction and imposition of constructive trust of all the assets of MAXPHARMA, INC. (MP) and/or HAMILTON TAFT COMPANY (HT). In this petition ARMSTRONG JR. testifies to the parties involved with MP up until February 1989 and he testifies in detail to the various ways which I I I I it has been alleged, controlled NATIONAL BANK OF WASHINGTON) "loot ll the assets of HT. ARMSTRONG, JR. took over ownership control of HT in March of 1989 through a settlement of the above court case withl I ARMSTRONG, SR., chairman of now defunct PREMIER BANK in Texas, was convicted of money laundering in 1988.

I

~ -=J~R~.-/:-s-t~a'l;-k-e-o-v-e-r-"'~-n~3~/=-=8~9~t"""l'h-e-r-e--h-a-v-e---='E-e-e-n

presidents of HT.

2

Since ARMSTRONG,

f i v e d iff eren t

• The appointed trustee of HT that is currently presiding over HT today during this bankruptcy has stated that there is a $85 Million dollar shortfall of taxes due that cannot be paid by HT (client deposits were expended in some other way). Of this $85 million, $15.9 million " ... was transferred out of Hamilton Taft during the Maxpharma era before Armstrong acquired Hamilton Taft on March 29, 1989". ARMSTRONGYJR. has channeled most of the missing $69.1 million dollars through a myriad of shell companies under his control in Dallas, Texas. The following is a list of those companies in approximate chronological order: DRESDNER ENTERPRISES, CHASE DEVELOPMENT CORPORATION, CAL-PACIFIC MANAGEMENT CORP, SUISSE TEXAS, INC., THE REMINGTON COMPANIES, INC., CCA HOLDINGS, INC., KNIGHTSBRIDGE COMPANIES, INC., WINTHROP REALTY COMAPNY, DRESDNER PETROLEUM INC., DEI INC, and PARKER AUTOMOTIVE INC_ (LA) •

The trustee also stated that he has found records that indicate $3 million dollars of unsecured personal loans tOliJGi1;rL I in 1988 (during MAXPHARMA ownership). Also the trustee has stated that $6.1 million dollars transferred to iJf!i:iJ_ Iduring the ARMSTRONG era at HT. San Francisco finds it pecul iar that ARMSTRONG would grant loans to Ildau(10L lafter stating in sworn testimony in his statement to the court that / /had II • • • breach of his duty to pay the promissory note when due forms a basis of the causes of the action asserted against him in this lawsuitn~ San Francisco believes that ~inancedl purchase of MAXPHARMA in December of 19B7.

I

I

I

There is a be,nk fraud ;nvestjaation now stj~ in the early stages concerningl J San Francisco has yet to verify the allegations in the enclosed article thatl Ihad defaulted on three loans from BCCI. If this office can be of any further assistance or any more detail desired by ==EQ on these two Tases cs theY IDa~ nertain to BeeI contact SAlJor SAL

I

I

-----

3

b7C