PTech Officials Indicted for Allegedly Concealing Terror Financier's Assets

Buford George Peterson is charged with making false statements on a Small Business Administration loan application to hide the fact that a Specially Designated Global Terrorist held a substantial stake in Ptech. The Quincy, Mass.-based company made computer software for management systems.

Among Ptech's customers were the FBI, IRS, Federal Aviation Administration, the departments of Education, Veterans Affairs, Energy and Agriculture, The U.S. Air Force and Naval Air Systems Command and NATO.

The alleged terrorist at issue is Yassin Qadi, who invested more than $10.3 million in Ptech and obtained more than a third of the company's stock in return. Qadi was designated by the U.S. Treasury Department in October 2001 for alleged ties to Al Qaeda, a move that was supposed to freeze his assets.

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