A third case, involving the transfer of $3 billion to Iraq through an Atlanta branch of Italy's Lavoro bank, is yet to break.
Other executives are expected to be charged by the commission in an investigation of the firm's Atlanta branch.
The credit was granted, without explanation, by the bank's Atlanta branch, the company said.
The latest memo was written in September 1989, just one month after Federal agents raided the Atlanta branch of the bank.
Unauthorized loans to Iraq by the Atlanta branch of an Italian bank could cost the Government $2 billion.
Federal prosecutors considered indicting the bank after it was learned its Atlanta branch extended sizable unsecured loans to Iraq.
In the early 1980's, its Atlanta branch, seeking new business opportunities, began lending money to Iraq under the Agriculture Department program.
On Aug. 4, 1989, Federal agents, acting on a tip from two bank employees, raided the bank's Atlanta branch.
David Word, chief of the agency's Atlanta branch, said inadequate supply is a problem for at least 453 communities in Georgia.
The Atlanta branch was the original location of Camp Jam.
