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Adnan Khashoggi — Part 1
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that Khashoggi could "easily" acquire a similar amount of
AZL stock at any time, which would put him in a position
to place several members on the company's Board of Directors,
Adnan M. Khashoggi and/or the Triad companies are majority
stockholders in the Security National Bank, Bank of Contra
Costa, and substantial shareholders andjoint venturers in
insurance, shipping, and numerous other international ventures.
Khashoggi owns 98% of the Security National Bank was founded
by Pete Stark, presently a Congressman for the State of .
California. Stark on h gedly sold his-interest >
to Adnan M. Khas tely July,
1974 resigned as due to
business commitments.
In November, 1974 the First National Bank of San Jose agreed
to the sale of a new issue of 650,000 common shares of stock
which, if approved, would give Adnan M, Khashoggi’ one-third
interest in the institution. The bank's assets were said to
be $300,000, 000. Shares were to be sold in a private
lacement at a negotiated price of $21.83 a share, or about
14,000, 000.
b6
b7C
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