Editing Frank Nugan (section)

==Nugan Hand Bank==
In 1973, Frank Nugan co-founded [[Nugan Hand Bank]] (initially Nugan Hand Ltd.) with [[Michael Jon Hand]], a former U.S. Green Beret with CIA ties from his work in Laos. The bank, based in Sydney, marketed itself as a merchant bank offering high-interest (up to 16%) offshore accounts, targeting wealthy clients and promising tax-free banking in locations like the Cayman Islands.

	•	Role in the Bank: Nugan was the public face and chairman, using his legal expertise and Australian connections to attract investors and legitimize operations. Hand, with his intelligence background, managed covert activities. The bank expanded rapidly, opening branches in Hong Kong, Singapore, Chiang Mai, Hawaii, and the Cayman Islands, and claimed $1 billion in assets by 1979, though this was later exposed as fraudulent.