James Russell Forgan

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James Russell Forgan.

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James Russell Forgan

by Virginia McClaughry

Forgan receives the Distinguished Service Medal

My Great-Uncle-by-marriage was James Russell Forgan (Colonel). He was the brother of Marion Forgan. Marion married my Great-Grandfather’s brother – Halstead Gurnee Freeman. (see My Family Tree II.)

Marion_ForganMarion Forgan (right)

James and Marion Forgan’s father was David Robertson Forgan, the brother of James Berwick Forgan.

The Federal Reserve Act was passed in 1913, and David’s brother James was elected First President of the Federal Advisory Council of the new Federal Reserve.He served for six years in that capacity.

Group portrait of bankers seated in rows in a room in Chicago, Illinois. The bankers were attending a Federal Reserve meeting. – June 19, 1914

Group portrait of bankers seated in rows in a room in Chicago, Illinois. The bankers were attending a Federal Reserve meeting. – June 19, 1914

David R. Forgan, Harry Lauder, and Charles W. Folds riding in back seat of automobile - Chicago Daily News, Inc., 1918 (David is on the far left side of the seat.)

David R. Forgan, Harry Lauder, and Charles W. Folds riding in back seat of automobile – Chicago Daily News, Inc., 1918 (David is on the far left side of the seat.)

Informal portrait of David Robertson Forgan, banker, sitting at a desk in a room during the O'Hara Senate Welfare Commission in Chicago, Illinois. 1913 – June 6.

Informal portrait of David Robertson Forgan, banker, sitting at a desk in a room during the O’Hara Senate Welfare Commission in Chicago, Illinois. 1913 – June 6.

James Russell Forganwas the Chairman of the two committees leading up to the formation of the C.I.A.

After the War ended in 1945, the 33rd President Harry S. Truman signed an Executive Order which split the functions of the OSS between the Department of State and the Department of War.

The War Department took over the Secret Intelligence (SI) and Counter-espionage (X-2) Branches, which were then housed in a new office created for just this purpose—the Strategic Services Unit (SSU). The Secretary of War appointed Magruder (who was OSS) as the director to oversee the liquidation of the OSS, and more importantly, the preservation of the clandestine intelligence capability of the OSS. It was at this time that James Forgan was assigned to chair the committees overseeing the changes at this time.

As a result of James Forgan’s chairmanship, in January of 1946, President Truman then created the Central Intelligence Group (CIG) which was the direct precursor to the CIA. The assets of the SSU (which had become a streamlined “nucleus” of clandestine intelligence) were then transferred to the CIG in mid-1946 and then re-named the Office of Special Operations (OSO). Next, the National Security Act of 1947 established the Central Intelligence Agency. The paramilitary component of the OSS became the Special Activities Division of the CIA.

forgan_new_york_times_header forgan_cia

Within two days of this disbanding of the OSS, the more “dirty” and ill-gotten gains from war-torn Europe (entire intelligence networks as well) were quickly moved under an offshore shadow corporation.

William Donovan (head of the OSS) and William Stephenson (MI6 – British Intelligence) with the help of James Forgan’s law firm and Donovan’s, registered a corporation in Panama called the British American Canadian Corporation S.A. Concurrent with forming the final form of British intelligence in America, the CIA, the BACC changed its name to the World Commerce Corporation, with its head office being located in New York City. (April 2, 1947)

This is the exact organization that was the archetype for the MI6 cover organization called Universal Exports in the James Bond books.

The World Commerce Corporation was staffed mostly by intelligence personnel, (OSS and MI6) and according to Frank T. Ryan, who had succeeded John Arthur Pepper as it’s president, there were “financial resources available that were substantial.”

Surprisingly, or on second thought, maybe not considering the secretive and still protective nature of those with guilty consciences, hard evidence that isn’t coming from some sort of conspiracy theory trap website, or from a daisy-chain of authors quoting each other, was pretty difficult to find. But, I finally found something in the Library of Congress that verifies it’s existence, and the time period therein.

With his wartime associates, Ogilvy organized the British American Canadian Corporation to aid in the postwar development of Great Britain by promoting the sale of British goods, particularly in the United States.

Library of Congress David Ogilvy collection

What were those “goods”?

The Library of Congress Ogilvy Business File series gives a clue. In Box 30, we see “pharmaceuticals”.

We also see that the founding time of The British American Canadian Corporation was indeed 1945. The Intrepid Society refers to it as a “trading corporation.” and that it was “a group heavily involved in rehabilitation and development of national economies which had suffered, or been deprived of markets during the war.

Been deprived of markets? Now there’s a euphemism if I ever heard one, for what really happened there. Oh, what a world of deception and pain! – are contained in just those few words. The British, as the main force that orchestrated this suffering and deprivation in the first place, are truly masters of the understatement.

The roll-over corporation (from the first one formed in 1945) the World Commerce Corporation, was registered in Panama in order to “put its financial dealings outside the scrutiny of either the British, American, or Canadian governments”.

What that really means is not so much the governments, it was the people that those governments would inevitably inform, that’s who they were afraid of. They were afraid of the public vilification and calls for justice that would be bound to happen. Both of which they richly deserved for their heinous dealings and profiteering off of those who had needlessly suffered and died, let alone involving half the world in a War whose only real purpose was to enrich these same bloodless ghouls and propel them into world-rulership at last.

One source documents that an example of the type of seriously dirty assets these founders and members would control, was the gold that James Forrestal was one of the controllers of. This was a secret cache of Nazi gold seized during World War II and not only had it been hidden from those allies outside the “in-crowd”, and from any kind of public scrutiny – it was also used to finance the “communism” op in order to close off Russia and China from the world’s view!

The reason that it’s head office was in New York City, is because that’s where William Stephenson – code name Intrepid – had his headquarters. He was the head of all intelligence operations by the British in the U.S. pre-during-and-post World War II, through an office created just for that purpose called the British Security Coordinator.

The forming of the British American Canadian corporation was all part of the “arrangements” to be made for “prominent individuals”, as it was termed, during the end days of World War II. Accordingly, Stephenson’s office did not officially close until nine months after the Japanese surrendered in August 1945.

Stephenson then moved to Jamaica, where he continued to direct all manner of covert activities even though supposedly “retired”. There’s an old intel joke about that – there’s no such thing as a retired spook!

Stephenson was already a wealthy man prior to the war, and for his efforts during his time heading this den of vipers and thieves tasked to corrupt and mislead America? He was presented with a knighthood by King George VI, announced in the King’s New Year’s Honour List in January 1945.

Behind Stephenson though, was British nobility, the real “handlers”.  These two corporations (really just one with two different names) were part of an idea/operation already in place before the War even ended. Sworn testimony before the US Senate indicates that during World War II an “organization” did exist which was “formed by Lord Shaw­cross of Eng­land and Mr. Her­mann Abs of Ger­many to bring about a Magna Carta for the pro­tec­tion of for­eign invest­ments of World War II.

It’s been said that this organization helped protect certain financial interests exclusively and ergo aiding in laundering money siezed by the Nazis during the war, to Argentina, Nelson Rockefeller’s territory during the war. According to US Treasury Agent reports, in 1941, (when the U.S. entered the War), all of the branches of Amer­i­can banks in France under Ger­man con­trol were closed, except two. The two banks had direct ties to Dr. Hermann Josef Abs of Deutsche Bank, the then financial advisor to Hitler’s government. Those two banks were: Mor­gan et Cie (which was a Rothschild concern)and Chase of New York which my family tree members the Forgans and Halstead Freeman were involved with.

The reason the above is mentioned is because accord­ing to Nurem­berg records, Hermann Abs’s Deutsche Bank was the main con­duit for laun­der­ing Nazi money into Argentina which was done under the super­vi­sion of Mar­tin Bor­mann. Despite this blatant complicity, the Amer­i­can side of the war crimes inves­ti­ga­tion of Abs was dropped and as I understand it Abs was appointed eco­nomic adviser for the British zone of Ger­many, which is where we end up back at the World Commerce Corporation again, as they were one of the main corporations to profit from that particular monopolized position.

So, basically they moved much of these ill-gotten assets they were stealing from multiple countries and it’s people during the War, to the World Commerce Corporation – then turned around and  sarcasm ever so benevolently doled out some pittances (proportionately) to the countries they had helped tear up in the first place! And the rest of what they needed? They made them take out loans – loans out of their own fallen comrades and people’s money! Now that’s sick.


In fact, Allen Dulles, one of the consulting attorneys for the World Commerce Corporation, had an assis­tant named Frank Wis­ner who was the State Department’s deputy for Cur­rency and Eco­nomic Reform in the Amer­i­can zone of West Ger­many. In a strange coincidence  sarcasm one of the biggest “trade” areas controlled by the World Commerce Corporation is also the new home of the fleeing Nazis, Argentina.

How was this money moved during the War? It went through Curacao, and then to Argentina.

Why Curacao?

Well, back in 1916 a commercial bank was started called Maduro and Curiel’s Bank NV, and all during World War II, Curacao was a hotbed for tons of money moving from Europe (taken by the Nazis) into South America. Even Philips and Shell decided to establish itself in Curacao.

As part of the two monarchies preparations for the booty they expected to get from the yet to be started War, in 1938, Antonius A.G. Smeets was tasked to lay the groundwork for the “offshore investment and finance industry” in the Netherlands Antilles. (Curacao) The first step was to found the legal infrastructure, so Smeets founded a law firm which specialized in “international corporate and financing transactions” which to this day provides a wide range of corporate and legal services to listed and privately held corporations, including many Fortune 500 corporations, (offshore) banks, other financial institutions, investment funds, holding companies, royalty companies and high net worth individuals.

Mr. Smeets then set up the first 3 big corporate trust companies in Curacao. The Curacao Corporation Company NV and Netherlands Antilles Corporation Company NV (1958) and here’s our guy – the Trust Company of Willemstad NV (1959).

In 1966 all 3 were merged underneath the Curacao International Trust Company NV (Citco).

It is notable, that the Netherlands is the only major Monarchy left standing after the British began their rule-the-world “there can be only one” schtick that began under Queen Elizabeth. That’s because they had a deal. And still do, apparently, so it’s not much of a surprise that Curacao is a primary money-laundering point for British-American intelligence operations dirty money that they don’t want known the details of.

To illustrate the further complicity of the banks that the Forgans and Halstead Freeman were executives of, before the “world” aspect of this War was even engaged, these people were involved in dirty money dealings in relation to British Intelligence efforts (Stephenson) working behind the scenes to stir up war conditions – to get the “world” at War so they could rake up everything behind the path of destruction.

The FBI, in November 1939, began tracing expenditures from the German consular account at Chase National. One find was that it made large payments to J.P. Morgan in a financial scheme to try and recoup Morgan’s losses on German debts . Another find from April 1940, was that money was being disbursed through Robert C. Mayer & Co. to Father Charles Coughlin by funnelling “donations” to Coughlin’s organizations in small, untraceable five and ten-dollar bills.

What’s that you say? Catholic priest Father Charles Coughlin – the pro-Nazi, friend of Goebbels, and rabble-rousing radio priest? Yep, the very same.



Him and Goebbels were two propaganda peas-in-a-pod.

Dr. Joseph Goebbels - Nuremberg Nazi Rally

Just look at this guy Coughlin in action – 

Bags of mail were being delivered to Coughlin – with the laundered Nazi money “donations”.

coughlins_nazi_donations_being_deliveredimage is from this documentary

A new post office was constructed in Royal Oak (Michigan) just to process the letters that he received each week — 80,000 on average.

Takes a lot of letters with 5 and 10 dollar Nazi money “donations” to get a million together for a “new church, right?

Not long after British intelligence had sent Stephenson to start the BSC, The FBI began taking further actions to investigate some of the dirtier financial transactions that were being funnelled through Chase Bank.

But, despite clear evidence of guilt obtained through an FBI raid in October of 1940 – Chase got off scot-free.

The FBI had learned of the whole Rueckwanderer business (see Rueckwanderer in book here), they then raided and seized documents that proved that Chase National and the others (companies etc.) had clearly acted as agents of the German government without informing the Department of State, as was required by law. Prosecution for violations of the 1917 Espionage Act and the 1939 Foreign Agents Act were considered, as well as a conspiracy charge too. The Justice Department moved to prosecute in 1941, which clearly they had a good chance of winning as Chase was actually dirty.

However, in actual fact, the FBI completely missed the really damaging picture of this nest of anglophiles and traitors to America, which the German Consular money was barely even the tip of the iceberg.

There does exist a rather weak explanation for Chase’s actions, I consider it a shore story more than anything else. The explanation goes… that William Vincent Astor and his buddies of “The Room” were engaged in this nazi-funds-funnelling as a counter-intelligence action, but that is not exactly what you would call the truth.

To put it mildly…

There’s a lot of reasons I feel confident in my portrayal of Astor’s spuriousness there, all of which are backed up with documentation that will be covered separately.

The long and short of this investigation of Chase, was that on June 9, 1942, Hoover was informed that after consultation with Mathias Correa, the U.S. Attorney for the southern district of New York, the U.S. Attorney General Francis Biddle (who had only been elected September 5, 1941), refused to prosecute Chase. Allegedly, what had happened was that Chase’s lead lawyer threatened to reveal FBI, Army, and Navy sources and methods in open court.

Funny, there was no threat to reveal BRITISH intelligence connections in the same way – kinda makes it clear who this threat (that got Chase Bank off the book) actually came from. It also shows yet another example of the dislike of and looking-down-the-nose at, the FBI by the “upper class” spies of the Britsh-controlled ONI and OSS that carried right on over into the CIA.

In addition to the above, in 1942, agents of the FBI raided Coughlin’s church and seized all parish records and personal papers. During the investigation, the same Francis Biddle – who had refused to prosecute Chase and it’s connections to British intelligence operating within the United States argued that Coughlin’s magazine Social Justice had repeated “in this country the lines of enemy propaganda warfare being waged against this country from abroad.”

Biddle goes after Coughlin, characterizing that this magazine was “pro-Axis propaganda”. In fact, that was the publicized reason for the investigation begun by Biddle in April of 1942. Then, under the Espionage Act, Coughlin’s magazine was suspended of its second-class mailing privilege by the United States Post Office, effectively halting its distribution to subscribers. That same year, the publication of the Social Justice ceased by direct order from Coughlin’s superior, Archbishop of Detroit Edward Francis Mooney.

Now the interesting thing here, is the obvious showboating by Attorney General Biddle, (himself an Anglophile) holding Coughlin up as an excuse to start censoring the mail in the U.S. in direct violation of the American Constitution. The other use for this particular agent provocateur (Coughlin) was to now be able to get away with lumping anyone who disagrees with fighting a war for the British, anyone who recognizes and speaks out against the British intelligence actions to try and get America into their war as being “traitors” and “spies”.

I’m sure the hypocrisy of that particular accusation is not lost on you.

And this was all under the helm of William Stephenson and his predecessor – all directly orchestrated by British intelligence.

So this is the kind of thing that capture money and funneled British assets were directly being used for – to suborn other countries freedoms and right to speak out and fight the British taking over their lands.

Despite the exposure of complicity of Chase, 1940 rolled on into 1941, and the BSC became a huge secret agency of nationwide news manipulation and black propaganda. Pro-British and anti-German stories were planted in American newspapers and broadcast on American radio stations, and simultaneously a campaign of harassment and denigration was set in motion against those organisations perceived to be pro-Nazi or virulently isolationist.

See why they used Coughlin?

Stephenson called his methods “political warfare” and the British aim was to change the minds of an entire population: to make the people of America think that joining the war in Europe was a “good thing” and thereby free Roosevelt to act without fear of censure from Congress or at the polls in an election.

Three thousand British agents were spreading propaganda and mayhem in America.


And the BSC continued to grow…

Part of this network, was the supposedly American ONI and OSS. In reality these agencies were decidedly unpatriotic, they were pro-British. Their members swelled the ranks of this nationwide British intelligence campaign even more. L. Ron Hubbard, of the later “mind-changing” experiments called Dianetics and Scientologu, was one of them, being an ONI man himself.

To illustrate some of the nastier tactics being employed within this British intelligence network, there was a game invented by the BSC called “Vik”. It was described as “a fascinating new pastime for lovers of democracy“.

Printed booklets described up to 500 ways of harassing and annoying Nazi sympathisers (and those labeled “isolationist”).  People wanting to play this “game” were encouraged to ring up their targets at all hours of the night and hang up. Dead rats could be put in water tanks, air could be let out of the target’s car tires, anonymous deliveries could be made to their houses and so on.

In a move literally straight out of the time of Queen Elizabeth and Dr. Dee, in the summer of 1941, British intelligence sent a sham Hungarian astrologer to the US called Louis de Wohl. At a press conference De Wohl said he had been studying Hitler’s astrological chart and could see “nothing but disaster ahead for the German dictator.” De Wohl became a minor celebrity and went on tour through the US, issuing similar dire “revelations” about Hitler and his allies. De Wohl’s completely fabricated bogus “predictions” were widely published by British-backed press outlets.

I could go on, and I will in a separate article about these intelligence activities of the British, but for this article? This should suffice to give you a “feel” for just what James Russell Forgan was directly involved with supporting – British intelligence activities that were not in the best interests of America.

He – as far as myself and I dare say anyone else who understands the founding of this country is concerned – was a TRAITOR.

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