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81
procedure. He treated the repayments as donations to KCFF.
The total of these purchases was about $1.28 million, meaning that about 53
percent of the bank's actual initial capitalization was owned by persons affiliated
with the Moon Organization.
In the months preceding the investments, leaders of the various components
of the Moon Organization had shown both a frequent need for substantial
banking services and an interest in controlling a bank. In a speech on February
16, 1975, Moon twice spoke of establishing a bank. The second time he said:
"On the economic front, we are going to earn money through our trade
agencies in many nations, gather the money and make an international bank, so
that the currency will be freely coming back and forth."
578
On February, 23, 1975, Salonen was quoted talking about the need to rely on
"outside economic power" such as banks and that Moon would depart shortly on
a trip to East Asia to borrow money,
579
In March, Moon's representatives
contacted Chase Manhattan Bank in an attempt to obtain Chase's help in
financing business investments in the United States.
It was during that same period, a few months prior to the investments in the
Diplomat National Bank, that Pak Bo Hi was having problems in getting bank
financing for the construction of the Little Angels School and performing arts
center in Seoul.
Sources of DNB funds
The subcommittee was unable to get convincing answers to questions about
the sources of funds for the investments in the bank. The subcommittee traced
the source of Moon's funds for his stock purchase to a time deposit in his name
at Chase Manhatttan Bank which had been set up in January 1974, with deposits
totaling $555,931. This time deposit was closed out at Moon's request on
September 2, 1975. The proceeds were then deposited to a checking account at
Chase in Moon's name and funds for Moon's purchase ($80,000) were then
shifted through two more checking accounts in his name, also at Chase, before
he wrote his check to DNB for his stock. These funds transfers through four
Chase accounts in Moon's name took place within 7 days prior to his purchase of
the stock.
580
Takeru Kamiyama obtained the money ($75,000) for his stock purchase came
mostly from a loan to him from the Unification Church in New York. The
subcommittee traced the source of those funds ($70,000) back also to Moon's
time deposit. Shortly before his purchase of stock, Kamiyama opened a checking
account in his own name at Citibank in New York. Four days before his
purchase, Clifford Yasutake, a church official associated in various ways with
managing church finances, endorsed a check for $285,000 from Moon's checking
account at Chase over to a Chemical Bank check-
379
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