The Commission dismissed claims that Houghton was a CIA agent, and that the bank was disseminating money for the CIA. The Commission accepted Colby's evidence that he was merely giving legal advice to Nugan and Hand relating to either or both of them taking up residence in the United States. The Commission concluded that Yates, who had apparently been recruited by Hand, was responsible for the involvement of other retired military and intelligence personnel. According to the Commission, Hand believed they would instil confidence in the bank, and their knowledge of South East Asia would be advantageous. Stewart later commented that the involvement of these figures gave the impression that the bank had connections that it did not actually have. Apart from the bank accepting deposits with no questions asked, the Royal Commission found no credible evidence of involvement in the drug trade. However, Stewart stated in his memoirs that he had "no doubt" that Houghton, Nugan, and Hand played a part in drug trafficking at Houghton's Kings Cross establishments. The Royal Commission's findings conflict with the findings of the 1982 NSW Joint Task Force on Drug Trafficking which found that Hand had encouraged Murray Riley and his associates to use Nugan Hand facilities to move drug money. Task Force investigator, Clive Small, concludes that the Stewart Royal Commission was a whitewash: “"The royal commission was so dismissive of an American connection that many people who read it simply felt that it was a cover up, because it was in effect so superficial and so dismissive. It never attempted to put into context its findings with the findings of the Joint Task Force, which have not been found to be in any way, shape or form inaccurate or unreliable"”. No one connected with Nugan Hand has ever been convicted of a crime. Politician and jurist, John Dowd, states that Nugan Hand became the vehicle to quietly move drug industry money. Dowd advises that this led to dealing with corrupt governments and the CIA, but in Australia during the 1970-80s, the CIA was seen as "the good guys". Similarly, former NSW Attorney General, Frank Walker, insists that from the government's perspective, having good relations between ASIO and the CIA was more important than bringing criminals to justice. Investigative authors, Kwitney J. (1987) and McCoy A.W. (1991) asserted that Nugan Hand Bank had facilitated the international movement of illegal funds for both drug smugglers and the CIA. The Stewart Royal Commission's decision that there was no evidence to support these allegations astonished these early investigators.