Editing Michael Jon Hand (section)

==Collapse of Nugan Hand Bank and Disappearance==
On January 27, 1980, Frank Nugan was found dead in his Mercedes-Benz near Lithgow, New South Wales, with a .30-caliber rifle, officially ruled a suicide. The death triggered the bank’s collapse, exposing $50,000 in missing depositor funds and fraudulent accounting.

	•	Hand’s Disappearance: In June 1980, Hand fled Australia with assistance from James O. “Jimmy” Spencer, a former Green Beret. He was last seen in Sydney, leaving behind a false beard and documents indicating plans to relocate to South Africa or South America. Hand became a fugitive, and his whereabouts remain unknown, though unconfirmed reports suggest he settled in the U.S. under a new identity.

	•	Investigations:
	◦	The Commonwealth-New South Wales Joint Task Force on Drug Trafficking (1980–1983) confirmed drug trafficking and arms deals, with testimony from Neil Evans about Chiang Mai operations.
	◦	The Stewart Royal Commission (1983) labeled Nugan Hand a “massive fraud,” finding evidence of money laundering and CIA connections.
	◦	A 1984 Australian report suggested the bank’s role in the 1975 dismissal of Whitlam, who threatened U.S. intelligence interests.