North's $16,000 security system gift
One of Oliver North's three guilty verdicts was for accepting a $16,000 home security system paid for by Richard Secord using Iran-Contra funds.
Snapshot · Stuff You Should Know
Selects: Iran-Contra Affair: Shady in the 80s, Part 2
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Aug 8, 2026
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Criminal Trials, Pardons, and Everyone Walks Free
At 44:40 · chapter starts 44:00
The criminal phase of Iran-Contra produced 14 indictments but vanishingly little punishment. Oliver North was found guilty on 3 counts — one being acceptance of a $16,000 home security system from Secord, paid with Iran-Contra profits — but his convictions were overturned on a technicality. Albert Hakim received 2 years probation and a $5,000 fine. Richard Secord, who had actually set up the shell companies and run the money, received 2 years probation. Then, on Christmas Eve 1992 as George H.W. Bush was leaving office, he issued 6 pardons, including preemptive pardons for Caspar Weinberger and Dewey Claridge before they had even stood trial. [1] — Chuck Bryant "President George H.W. Bush issued 6 pardons on Christmas Eve as he was leaving office, freeing all key Iran-Contra figures including Caspar…" 45:18 This final act drew particular fury because Bush himself had withheld subpoenaed diary entries showing he had full knowledge of the scandal throughout — entries he claimed not to realize had been requested. Independent Counsel Lawrence Walsh declared the Iran-Contra cover-up complete and publicly accused Bush of 'arrogant disregard for the rule of law.'
14 people charged, most walked free
14 people were charged in the Iran-Contra criminal investigation, but North's conviction was overturned and Bush issued Christmas Eve pardons freeing everyone else.
Christmas Eve Pardons: Everyone Walks Free
President George H.W. Bush issued 6 pardons on Christmas Eve as he was leaving office, freeing all key Iran-Contra figures including Caspar Weinberger and Dewey Claridge, who hadn't yet stood trial. North's conviction had already been overturned on a technicality. The men who ran the operation got 2 years probation each.
Bush withheld subpoenaed diary entries
George H.W. Bush withheld subpoenaed diary entries that indicated he had full knowledge of Iran-Contra throughout, only surrendering them in 1992 after a second request.
Bush's Diary and the Completed Cover-Up
George H.W. Bush withheld subpoenaed diary entries showing he had full knowledge of Iran-Contra throughout. When finally pressed in 1992, he claimed he didn't realize they'd been asked for. Independent Counsel Lawrence Walsh declared the cover-up complete and accused Bush of 'arrogant disregard for the rule of law.'
Reagan approval dropped 20 points
Reagan's approval rating dropped from 63% to as low as 43% in the span of a couple of months after Iran-Contra was exposed.
Reagan Said 'I Don't Recall' 88 Times
In his 1990 Iran-Contra deposition, Ronald Reagan said 'I don't remember' or 'I don't recall' 88 times. Despite the scandal, his approval rating recovered from 43% back to the low 60s — making him the most popular president since FDR upon leaving office.
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