FOR IMMEDIATE RELEASE CRM FRIDAY, SEPTEMBER 1, 1995 (202) 514-2008 TDD (202) 514-1888 FEDERAL COURT RELEASES $393 MILLION FOR BCCI VICTIMS WASHINGTON, D.C. -- The Department of Justice today announced that U.S. District Judge Joyce Hens Green has issued an order turning over more than $393 million seized from the Bank of Credit and Commerce International (BCCI) to help reimburse its embezzled victims. The order marks the first time that the funds forfeited in 1992 are being made available to the government and the worldwide victims' fund under a plea agreement by the bank in 1991. Under that agreement, $223 million, plus accrued interest will go directly to the victims' fund. Another $10 million will go to the State of New York in payment of the fines assessed by New York against BCCI. The balance will remain available to the Attorney General to be used to offset the losses suffered by the Federal Deposit Insurance Corporation (FDIC) insurance fund as a result of BCCI's criminal activities, and for other purposes. Disbursement of the forfeited funds has been held up since 1992 by a series of challenges to the court's forfeiture order filed by third parties. Recently the Supreme Court rejected the largest of those challenges, making it possible for the $39 million to be released. Additional funds, totaling several hundred million dollars, are still being held by the court pending the resolution of additional third party claims. ### 95-465