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

FBI

TRANSMIT VIA: PRECEDENCE: CLASSIFICATION:


n Teletype o Immediate o TOP SECRET
o Facsimile D Priority ,0 SECRET
iKl AIRTEL o Routine- o CONFIDENTIAL
o UNCLAS EFT 0
o UNCLAS
Date 9/3/91

1 TO SAC, WMFO (NVMRA) (29B-WF-171994)~(RUC)

2 FROM SAC, SAN FRANCISCO (196A-SF-93255):::.


3 SUBJECT HIDDEN INTEREST, '
,MAJOR CASE 38
4
=--::-:::-- .....11 b7 C
ET ALi
5
FIF, FAG;
6 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
10 from I ~ a copy of CONNIE C. ARMSTRONG, JR.'s
petition dated February 16, 1989 and a copy of the September
11 3, 1991 Oakland Tribune article referencing BCCI. b7C
12 This office has received a letter from I I
I lalleging financial connections between HAMILTON TAFT
13
COMPANY, I I CONNIE C. ARMSTRONG, JR.J I
14 I land the
BANK OF CREDIT AND COMMERCE, INTERNATIONAL (Bee!). The letter
15 was supposedly mailed to your division in August of 1991.

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


20 WLH/wlh
21 ±

Approved: - _
"

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.

It has been alleged


purchased by MAXPHARMA (owned by
HT 0jfiCerS since being
in 1988 have been b7C
t1at
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.; J

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/./ ;I-
The 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.

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 ~ Since ARMSTRONG,
-=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 f i v e d iff eren t
presidents of HT.

2

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
I 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 b7C
I ~inancedl I purchase of MAXPHARMA in December of
19B7.

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 SAl- Jor SAL
I I -----