BankAmerica Denies BCCI Allegations: BankAmerica Corp. has denied new allegations of illegal activities in its past connections with the scandal-ridden Bank of Credit & Commerce International. An amended class-action complaint filed in Los Angeles alleges that San Francisco-based BankAmerica effectively controlled a 60% stake in BCCI at one time, owning 25% and loaning money to other parties that invested in BCCI. It is also alleged that in selling its 25% stake in BCCI in 1980 for a large profit on its investment, the California bank "was being rewarded in order to advance the overall objective of the BCCI conspiracy." BankAmerica said "the allegations that BankAmerica acted illegally are totally false and unsupported by any facts or evidence whatsoever."
From Times Staff and Wire Reports
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