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Iran-Contra affair
- A scandal in the administration of President Ronald Reagan , which came to light when it was revealed that in the mid-1980s the United States secretly arranged arms sales to Iran in return for promises of Iranian assistance in securing the release of Americans held hostage in Lebanon . Proceeds from the arms sales then were covertly and illegally funneled to the Contras, rebels fighting the Marxist Sandinista government in Nicaragua .
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