OIL CAPITAL LIMITED MEMO ITEMIZING ROGER TAMRAZ'S BUSINESS AFFILIATIONS FROM TH

Created: 5/19/1994

OCR scan of the original document, errors are possible

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oil capital limited, Inc.

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New York.

Registered in Delaware and Panama ConiroUing'shareholder: Roger Tamrax SSO million in capital

oil CAPITAL. Orar.ge Ave,5 Orlando,1

Executive Vice President and Treasurer: Gil Sireoimployees salts0 Oil royalty traders

Roger Tamraz

Head of or affiliated with the following concerns over the lastears: First Arabiantrand. Tamoil. Oil Capital Limited, Arabian ScaoiL Intra Investment Company (U)

Lebanese national. Tamraz is currently in bis tnid-SOs. Heasters Degree ia business administration from Harvard Business School. (U)

ig talker who relishes tbe spotlight.njoye told Faroes. According to his sclf-dra/tcd curriculum vitae. bean "capable of changing any existing powerU)

currently splits his lime between New York and Paris. (U) Oo tbe down-side, however, his business dealings haverail of victims. (U)

is still wanted for questioning by Lebanese justice authorities who charged him9 with mishandling the funds of (he country's second-largest bank, causing its collapse. (U)

He claims tbe charges are trumped up because of his dose association with former Lebanese President Amin Gemaycl. (U)

ia addition, tbe Lebanese Government in1 formally charged Tamraz in1 with misusing public funds while he was in office7 and listing them as state expenditures. Beirut alsoubpoena ordering Tamraz to appear for interrogations regarding the disappearanceassports. (U)

is believed to have been involved with Lebanese officialsonfidence scheme involving the establishment of dummy companies abroad and the Gnancing of "projects* undertaken by these companies with loans from Bank Al-Mashrek.^C^ '

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JUL7

CONF

and the Bank aj-Mashrek Crisis

esult of severe liquidity problems facing Bank Al-Mashrek inthe latter partamraz was lorced to resign as tbe organization's Chairman and Director General J

Tamxaz was accusedariety of financial misdeeds, including approvalloans to risky ventures in which he had a

00 million.

In9 Tararaz disappeared from Lebanon amid reporu-aJmost certainly untrue-that he had been kidnapped and5 million was paid ^his release. He apparently fled the country, for Paris, to evade arrest.

Aj-Mashrek's affiliates throughout the Middle East were severely affected, as well.

Inoha cancelled Sank Al-Mashrek's permit to do business inQata^ecauseohhc organization's liquidity problem.hiBHBjH l-Mashrek Qatar started to run into financial difficulties8 when its parent company, Tamraz's Intra Investment Company, used deposits of its branches outside Beirut to enter into riskytments in real estate and in the Lebanese currency and stock markets.

anque de Participations and demall Freoch Bank and the French subsidiary of the Lebanese Financial Group Intra, headed by Tamraz-declared bankruptcy,inor scandal in Piris. (U)

Tamraz's Other Business Deals

Tamraz's other business dealings have frequently made the newspapers, and include:

In thead, Tamraz used his contacts in the Shah's Iran to get American Transcontinental Pipeline its deal to liquefy natural gas in Iran. (U)

tn post-Nasserite Egypt, Tamraz helped Beehtel Corp clinch the bid for the Suez-Mediterranean pipelineonsoru'um ofuropean firms. (U)

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while be was working for Kidder. Peabody-Tamraz used'bis contacts in Saudi Arabia to obtain for the Japanese tradingaiHion barrels of desperately needed Saudi oil during the Arab oirembargo.

fr'r11Corporation made good real estate investments inccordinglose Tamraz associate, who claimed Tararaaortune buying and selling Paris hotels in. (U)

aving left Kidder. Peabody with significant backing from wealthy Arabs.rabian SeaoU tried unsuccessfully to acquire Commonwealth Oil RefiningU)

amraz soldercent of Tamoil-the European oil corporation involved mainly tnroduction and sales in northern Italy which he established and turned after himself-to the Libyan-owned Arab Foreign Back, retainingercent for bis First Arabian Corporation. (U)

owever.'s Tamoil wU in trouble, ind ics'chairman asked Italian authormes to place the concern under the Milan Tribunal's administration. By5 Tamoil was under court administration ia Italy while it worked on its financial problems, (f)

Inamraz's First Arabian Corporation, wbich owned Tamoil. was unable to come up with the financing needed to buy Chevron lialiana's refining and marketing assets. (U)

irst Arabian Corp. whose shareholders ioclude Saudis. Kuwaitis, and Qacaris, amoog others, bought Chevron's Italian marketing operations.

amrazoint veoture company with Warren Avis (founder cf Avis.o sell travelers checks. Tamraz was to fund the venture through Intra Investment, his Lebanese financial services concern. (U)

In the fallil Capital Limitedillion to develop two oil and gasestern Turkmenistanenture with Turkmen President Niyazov.ariety of sources claim Tamraz 'neverenny on thelthough he :laimedave several backers, including Japaa's Iiochu Corporation, most denied any involvement with Tamraz. (U)

Tamraz was originally included in US Commerce Secretary Brown's delegation to Russia tn4 to expand US-Russian trade, but apparently wu removed at the last minute. (U)

Inil Capital Limited was partonsortium (with China Metallurgical Construction Corp) tha: bid on the purchase ofercent of the Reci* copper mine in northeast Hungary. (U)

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