Swiss and U.S. Battle over $10 Million Frozen in Irangate Controversy

A battle ensuing between the Swiss and U.S Governments over $10 million that the Swiss Government has frozen in 1987 as a result of the criminal investigations in the Iran-contra affair. On February 3, 1992, Pascal Gossin of the Swiss division of international mutual judicial assistance-Central Office, denied a request from the U.S. for a return of the funds. Gossin in his decision noted that the criminal charges associated with the diversions of public funds have been dismissed against Messrs. Oliver North, Albert Hakim, and Richard V. Secord…[more]