3. Iran-Contra Affair
The Iran-Contra Affair was a political conspiracy during the Reagan Administration in the United States and it was two-fold. The first part of the conspiracy was the plan to sell arms to the Iranians in order to secure the release of hostages. While it may have been a noble gesture, such an action was forbidden as Iran was under an arms embargo from the U.S. government. The second part of the conspiracy was to use the money from the sale to fund the Contras in Nicaragua, an act which had been prohibited by Congress.
The plan was to have Israel ship the weapons to Iran. The Iranians receiving the weapons promised to do everything they could secure the release of Americans being held in Lebanon by Hezbollah. The first sale of weapons occurred in 1985 and shortly after one hostage was released. The plan was changed by Oliver North who suggested a direct sale to the Iranians at a substantial markup on the weapons so that a portion of the proceeds could go to the Contras. Reagan was on record as saying that he would not trade arms for hostages, but Admiral John Poindexter decided to go ahead with the plan anyway. Shipment of weapons began in February 1986 and continued throughout 1986.
None of the hostages were released following the shipment of weapons. In July 1986 another hostage was released, but three more were taken in September and October 1986. One more hostage was released with a promise to release the other two but the release never happened.
A leak by a senior official in the Army of the Guardians of the Islamic Revolution brought the arrangement to the public eye. A thorough investigation was never able to find any definitive proof of Reagan’s involvement but fourteen administration officials were indicted. There were eleven convictions, some of which were vacated on appeal and the rest of which were pardoned by George H.W. Bush in his final days as president.