Saturday, July 5, 2008

On July 5

On this day in ...
... 1991, all British branches of the Bank of Credit and Commerce International were closed on account of allegations of fraud. Approximately 120,000 patrons, with deposits of £250 million, were affected by the scandal at the bank known as BCCI. Many countries besides Britain were involved; indeed, BCCI's Latin American dealings spurred an investigation in the United States. (photo credit)
... 1962, following years of war, Algeria gained its independence from France.

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