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Cryptonym: WUMUTUAL

Definition:
A mutual fund, used as a proprietary corporation by the CIA.
Status:
Probable
Sources:

180-10141-10191: No Title

2/23/78 handwritten notes by HSCA staff member Blackman, referring to several documents, starting with Bernardo de Torres, born 3/26/34: His POA was 3/10/61, re JMATE. He was a Bay of Pigs prisoner, released December 1962. The notes then refer to Michael McLaney who had a connection with Wallace Groves, born 3/20/01. "Freeport, since 1947. 1966, President of Grand Bahama Port Authority, Freeport Medical Authority, Freeport Education Authority and Freeport Trust Company. CSA (Covert Security Approval) 4/11/66 from OGC (Office of General Counsel) officer or advisor of Project WUMUTUAL, CSA 4/12/72."

104-10408-10212: RESORTS INTERNATIONAL, INC

8/17/76 from Jerry Brown, Deputy Chief Security Analysis to Chief, Security Analysis Group: NYT Times article on Resorts International, Inc. considering big casinos in Atlantic City. This corporation used formerly th Mary Carter Paint Company, part of Meyer Lansky's holdings. Trafficante was Lansky's gambling czar in pre-Castro Cuba. Resorts International, OS #591 722, was of interest to Cover and Commercial Staff, DDO, in 1972-1973. Wallace Groves, OS #473 865, was connected with Lansky and Mary Carter/Resorts International. Between 66-72, Groves was of interest to Office of General Counsel to be used as officer or advisor of one of the Project WUMUTUAL entities. Groves owned the Grand Bahama Development Corporation. Robert Peloquin, head of a Resort subsidiary, "was formerly connected with Intertel (a private security company that emerged from Resort International) and as such was engaged by the Hughes Tool Company to conduct a sweeping investigation into the affairs and past activities of Robert A. Maheu."

Jim Hougan, Spooks, (Bantam, 1978) p. 377

"Wally Groves (was) an ex-con who'd served time for mail fraud...(he) was permitted to buy 211 square miles of Grand Bahama Island (in the Caribbean) for less than three dollars per acre...he sold the idea of a free port...Freeport ...was a company town in the classic sense of the word...(at p. 403) There were two men at Intertel who deserved special notice. One was James O. Golden...he was considered by many to be Nixon's man at (the Kennedy-loyal) Intertel. An ex-Marine interrogator, his life has been spent in almost continuous association with organizations and firms committed to intrigue. A dedicated criminologist, he joined the Secret Service in 1955...when Nixon left the White House, he departed from the Secret Service...the other man...is Robert Peloquin...under Peloquin's leadership, Intertel's acquired more than two hundred clients, most of them under 'oral' contracts and most of them blue-chip corporations...(Jack Caulfield's notes in 1972) make clear (that) White House espionage operations were at least partially defensive and predicated on a fear of Intertel and its relationship to the Kennedy family."

Amendment of Project CAGENERAL, p. 5: https://www.cia.gov/library/readingroom/docs/CAGENERAL%20DEVELOPMENT%20AND%20PLANS_0038.pdf

August 1964, Memorandum for Chief, Eastern European Division: A West German safehouse keeper was facing retirement. A decision was made to provide him with "an annuity policy through WUMUTUAL which would give the couple a guaranteed income of $25 a month for eleven years, supplementing their present West German pension of $146.00 per month."

Contributors:
Bill Simpich

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