World Finance Corporation

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Group.png World Finance Corporation  
(Front, Bank)Rdf-icon.png
Formation1971
FounderGuillermo Hernandez-Cartaya
Extinction1977

The World Finance Corporation was a bank set up by Operation 40 spook, Guillermo Hernandez-Cartaya after his release from jail. Like BCCI, it was part of a sprawling financial fraud traced out by Mark Lombardi.

“With the formation of WFC, former associates said, Mr. Hernandez-Cartaya hoped to utilize his wide-ranging contacts in the Latin American political and economic world to tap the growing market between American lenders and Latin American borrowers made possible by the 1969 Edge Act.”
 (15 December 1977)  [1]

Fraud

There were allegations that 8 of the 12 bank directors were either current or former CIA employees, and that then CIA director William J. Casey stymied the investigation for reasons of "national security". And so the two-year investigation ended in the conviction of Cartaya in 1982 for nothing more than tax evasion.


References

  1. The New York Times Cuban Exile Banker Under Wide Inquiry", Jeff Gerth, A1


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