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46A-WF-179870 SUB RR WS/cWS The following investigation was conducted by sA . b6 at Falls Church, Virginia: b7C U.S. DEPARTMENT OF JUSTICE (DOJ) AttOrney recently advised that a criminal investigation was opened. MADISON GUARANTY SAVINGS & LOAN (MGSL). AmOng the allegations were that mgsL officials approved overdrafts for the purpose of making contributions to the Presidential election campaign of BILL CLInroN. There were also allegations that proceeds from loans intended for other purposes were used to make contributions to CLINTON's campaign. JAMES B. MC DOUGAL, the owner of MGSL, was a longtime friend and business partner of BiLL and HiLLARY CLINTON. MC DoUGAL and the CLINTON's participated in a venture named WHITEWATER DEVELOPMENT CORP. that developed land in the Ozark Mountains. One copy of a 10/31/93 wAsHINGTON POST newspaper article regarding the investigation is attached for incorporation herein. requested that SA review the ecords pertaining the account of to determine whether had any relationship with MGSL. On 12/16/93, SA reviewed data concerning all b6 cleared checks written against. account. b7C checks were made payable to MgsL. SA also reviewed data regarding all deposits made into. [account. None of the deposits were able to be identified as having any connection with. MGsL. Additionally, SA reyiewed the entire summary of analysis of. account for any references to. MGsL. No rererences to mgsL were'found. Based on SA. review, it appears that did not have any relationship with mgsL that is discernible through his account. ig WF-1798W &b RE s