Albert Hakim was born in Iran in 1937. In 1974 he founded Stanford Technology Corporation in Geneva, Switzerland. According to Daniel Sheehan: “Hakim paid off top officials in the Iranian military to help American companies such as Hewlett Packard, Motoroloa, and General Electric win multimillion-dollar contracts with the shah's regime."
In 1976 hired ex-CIA agent Edwin Wilson to gain access and influence in Washington. Stansfield Turner, the director of the CIA. He immediately carried out an investigation of into CIA covert activities. Turner eventually found out about Ted Shackley and his “Secret Team”. He was especially worried about the activities of Wilson and the Nugan Hand Bank.
One of the men Wilson employed was former CIA officer Kevin P. Mulcahy. He became concerned about Wilson's illegal activities and sent a message about them to the agency. Ted Shackley was initially able to block any internal investigation of Wilson. However, in April, 1977, the Washington Post, published an article on Wilson's activities stating that he may be getting support from "current CIA employees". Stansfield Turner ordered an investigation and discovered that both Shackley and Thomas G. Clines had close relationships with Wilson. Shackley was called in to explain what was going on. His explanation was not satisfactory and it was made clear that his career at the CIA had come to an end. Richard Helms, reportedly said: "Ted (Shackley) is what we call in the spook business a quadruple threat - Drugs, Arms, Money and Murder."
After leaving the CIA in September, 1979, Ted Shackley formed his own company, Research Associates International, which specialized in providing intelligence to business. He also joined with Thomas G. Clines, Raphael Quintero, and Ricardo Chavez (another former CIA operative) in another company called API Distributors. According to David Corn (Blond Ghost) Edwin Wilson provided Clines with "half a million dollars to get his business empire going". Shackley also freelanced with API but found it difficult taking orders from his former subordinate, Clines. Shackley also established his own company, Research Associates International, which specialized in providing intelligence to business (in other words he sold them classified information from CIA files).
Edwin Wilson introduced Hakim to Ted Shackley and Richard Secord. In October, 1980, Shackley joined the company owned by Hakim (he was paid $5,000 a month as a part-time “risk analyst”). Hakim was keen to use Shackley’s contacts to make money out of the Iran-Iraq War that had started the previous month.
In 1983 Hakim and Richard Secord became partners in Stanford Technology Trading Group International in Vienna, Virginia. The following year the CIA sent a secret memo to the FBI stating: "This Agency has reason to believe that Hakim's company may be associated with Iranian terrorist-support activities being run out of official Iranian installations in Vienna and Barcelona."
In 1985 Paul Hoven met Carl E. Jenkins, a former CIA officer, at a party for people associated with the Soldiers of Fortune magazine. Jenkins introduced Hoven to Gene Wheaton. Hoven discovered that Jenkins and Wheaton had been attempting to win federal contracts involving transporting goods to Afghanistan and Nicaragua. Wheaton told Hoven about how the Ronald Reagan administration were involved in illegal arms deals. He also provided information about how the CIA had been responsible for carrying out a series of political assassinations.
Hoven introduced Wheaton and Jenkins to Daniel Sheehan in February, 1986. The two men told Sheehan about a group of former CIA agents and assets were involved in illegal arms deals with the Contras in Nicaragua and the Mujahideen in Afghanistan. Those named included Albert Hakim, Tom Clines, Raphael Quintero, Ted Shackley, Richard Secord, Felix Rodriguez and Edwin Wilson. Wheaton and Jenkins also provided more information about political assassinations that had been organized by members of the CIA.
In October, 1985, two journalists, Tony Avirgan and Martha Honey, accused John F. Hull as being involved in the La Penca bombing. Hull responds by filing suit against Avirgan and Honey for "injuries, falsehood and defamation of character". During their trial, Avirgan and Honey provide documents and witnesses to support their comments on Hull. As a result the judge rejected Hull's lawsuit.
In a CBS documentary broadcast in April 1986, a former contra pilot identified Hull's ranch as a "major transshipment plant for military supplies and drugs". The following month Daniel Sheehan and the Christic Institute named Albert Hakim, John F. Hull, Ted Shackley, Thomas G. Clines, Richard V. Secord, John K. Singlaub, Robert W. Owen, Rafael Quintero, Adolfo Calero, Pablo Escobar, Jorge Ochoa and 18 others as major figures in a racketeering network involved in drug trafficking and arms smuggling.
On 12th December, 1986, Daniel Sheehan submitted to the court an affidavit detailing the Irangate scandal. He also claimed that Thomas Clines and Ted Shackley were running a private assassination program that had evolved from projects they ran while working for the CIA. They added that it had begun with an assassination training program for Cuban exiles and the original target had been Fidel Castro.
It was eventually discovered that President Ronald Reagan had sold arms to Iran. The money gained from these sales was used to provide support for the Contras, a group of guerrillas engaged in an insurgency against the elected socialist Sandinista government of Nicaragua. Both the sale of these weapons and the funding of the Contras violated administration policy as well as legislation passed by Congress.
In March, 1988, Gene Wheaton agreed to provide a deposition in a federal courtroom in Washington. Wheaton claimed that Ted Shackley was overseeing an assassination outfit called the Fish Farm. However, he refused to say which retired CIA official had given him this information.
It was assumed that Wheaton's source was Carl E. Jenkins. However he denied it saying: "I am astounded that on the basis of his conversations with me, Mr. Sheehan would swear under oath that I supplied him with any of this information."
On 23rd June, 1988, Judge James L. King ruled that Sheehan's allegations were "based on unsubstantiated rumor and speculation from unidentified sources with no firsthand knowledge". In February, 1989, Judge King ruled that Sheenan had brought a frivolous lawsuit and ordered his Christic Institute to pay the defendants $955,000. This was one of the highest sanction orders in history and represented four times the total assets of the Christic Institute.
Lawrence Walsh, the special prosecutor in the Iran-Contra scandal, gave prosecutorial immunity to 14 defendants and indicted six people. Then, when George Bush lost the election in 1992, one of the last few things he did before leaving office was to pardon all of the people the special prosecutor had indicted.
Albert Hakim died on 25th April, 2003 in Inchon, South Korea.