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5 July

'I thought using the Ayatollah's money to support the Nicaraguan resistance was a neat idea.' Oliver North

Today in 1980, former National Security Council aide Oliver North received a $150,000 fine and a suspended sentence for his part in the Iran-Contra affair. Under a secret deal, the US was providing funds to the Nicaraguan contra rebels from profits gained by selling arms to Iran.

The conviction was later overturned as evidence revealed in the congressional Iran-Contra hearings had apparently compromised Oliver North's right to a fair trial.

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