The family had founded and operated Riggs Bank, which financed Samuel Morse's invention of the telegraph in 1845 and lent $16 million to the United States to fund the Mexican-American War.
Originally referred to as the Demountable Tokamak Fusion Core (DTFC), the name was later changed to refer to the Riggs Bank, which funded development along with Bob Guccione, publisher of the adult magazine Penthouse.
About two weeks after the assistance began, al-Bayoumi's wife began receiving monthly payments totaling tens of thousands of dollars from Princess Haifa bint Faisal, the wife of Saudi ambassador and Bush family confidant, Prince Bandar bin Sultan, through a Riggs bank account.
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Riggs had been controlled by the Albritton family since the 1980s, but they lost control after various corporate scandals and management problems.
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In 2002, Joe Allbritton, the Chairman of the Board, was inducted into the Washington Business Hall of Fame.
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The problem was solved by member William Corcoran, a prominent banker and partner in the firm of Corcoran and Riggs, later known as Riggs Bank.
His paintings, sculpture and constructions are included in collections such as the Metropolitan Museum of Art, Corcoran Gallery of Art, Lauren Rogers Museum of Art, Mobil Corporation, Riggs Bank, IBM Corporation, Federal Express, The Equitable Collection, Rogers Ogden Collection, Arkansas Art Center, the United States State Department, and United States Embassies throughout the world.