Citigroup/Citibank linked to terrorim financing
Wayne Madsen Report

May 22, 2007 -- WMR has received documents sent to one of the presidential campaigns from Leonard D. Wallace, a former business associate of former Enron Vice Chairman J. Clifford Baxter, that provides details of Al Qaeda and the 9/11 attacks being financed through Citigroup/Citibank. The document states that Baxter, who was to appear before a congressional committee to testify on Enron's dubious business practices, died from a reported suicide on January 18, 2002. According to the document received from Baxter's associate, the former Vice Chairman of Enron was planning to expose Citigroup's knowledge of Saudi banks, some of which it had a financial stake, were funding the terrorists who were responsible for carrying out the 9/11 attacks.

Wallace writes, "this cover-up of criminal misconduct has certainly been perpetrated both at 1600 Pennsylvania Avenue, Washington, DC and at Citigroup's 399 Park Avenue address in New York City." The document goes on to state, "Alberto Gonzales, and the U.S. Department of Justice that he heads, have successfully blocked any investigation of Citigroup, despite evidence that has been presented to them."

Wallace also writes, "I was brought into this spider web of greed and illegality by J. Clifford Baxter, a business associate of mine who was at one time vice chairman of Enron. Through his relationship with Robert Rubin at Citigroup's Chairman's Suite in New York City, in August 2001, I became privy to a series of business transactions planned by Citigroup that I began to realize were not only illegal but also aiding international terrorism from Saudi Arabia. I complained to Citigroup's senior executives and their board, and Cliff told me and others that he was going to expose this bank fraud of Citigroup and Saudi banks. Then, about 30 days after my first letter to Citigroup's chairman, Cliff suddenly died on January 18, 2002 from what is to this day still considered a very questionable suicide."

In a letter dated February 14, 2005 to Attorney General Alberto Gonzales, Wallace presents the background of his case: "I had a prior association in a $1.5 billion armored vehicle project with J. Clifford Baxter, the former Enron executive who died mysteriously in January 2002. As a result of that project, there are two public companies that can corroborate my participation and the integrity with which I conducted myself.

In August 2001, Cliff told me that he was involving me in securing $5 billion in loans and the subsequent investment of these funds. The collateral was to be located at Citibank Singapore, and he said that he would provide me with 4 pages of posting instructions."

The loan deal eventually was handed over to a Citibank Miami vice president -- on September 10, 2001. Wallace writes, "During the next 100 days, up until mid-December, Citigroup, through its headquarters and elsewhere, clearly orchestrated a well-coordinated conspiracy whose major impacts were going to be the defrauding of another bank and the acquisition of ill-gotten gains that would be received and/or distributed to others by Citigroup's senior management. It was represented to me by Citigroup officials and their documentation that the "others" included Account 98 activities, which I later learned were synonymous with the funding of terrorist organizations."

"Citigroup Singapore supplied a false inventory and authentication about Federal Reserve Bonds that supposedly were being used as collateral for the $5 billion loans. Citibank headquarters in Manhattan and Citibank Miami confirmed the authenticity of these bogus bonds. The posting instructions they provided me referred to Account 98s to be managed by unknown operatives in Saudi Arabia at SAMBA Bank, of which Citigroup was a major stockholder." [WMR previously reported on and provided a canceled SAMBA (Saudi American Bank) check written to a group affiliated with Hamas. This editor was personally told by a former chief of Mossad in October 2002 that if one wanted to find out where Al Qaeda received its funding, one would need not look further than the six largest U.S. banks, one of which is Citigroup].