There were those who were highly skeptical of this claim, and they had good reason to be. Consider this and decide for yourself if Poppy knew about the Iran-Contra scandal:
Except that the minutes from the June 1984 meeting of the National Security Planning Group demonstrated a distinct eagerness to deal with terrorist states, as long as it helped to illegally fund the Contras in Nicaragua. And the minutes show that George was there:McFARLANE: There seems to be no prospect that the Democratic leadership will provide for any vote on the Nicaraguan program.
PRESIDENT REAGAN: It all hangs on support for the anti-Sandinistas. How can we get that support in the Congress? We have to be more active.
KIRKPATRICK: If we can't get the money for the anti-Sandinistas, then we have to make the maximum effort to find the money elsewhere.
SCHULTZ: I would like to get the money for the Contras also, but ... Jim Baker said that if we go out and try to get the money from third countries, it is an impeachable offense.
CASEY: Jim Baker said that if we try to get money from third countries without notifying the oversight committees it could be a problem.
SCHULTZ: Baker's argument is that the U.S. government may raise and spend funds only through an appropriation of the Congress.
PRESIDENT REAGAN: We must obtain the funds to help these freedom fighters.
VICE PRESIDENT BUSH: The only problem that might come up is if the United States were to promise to give these third parties something in return, so that some people could interpret this as some kind of an exchange.
McFARLANE: I certainly hope none of this discussion will be made public in any way.
But an apparent lack of documentation allowed Bush to claim that he had never been "in the loop" regarding the Boland amendment violations.REPORTER: Did you know about the Contra aid or not?
VICE PRESIDENT BUSH: I sensed that there were -- that we were sending arms. And I sensed we were trying to get hostages out. But not arms for hostages.
REPORTER: Did you not begin to smell a rat here?
VICE PRESIDENT BUSH: Not really, no. I could see that it was -- got a little close, but not, not, enough to say -- no, this is not arms, that this is purely arms for hostages.
As Senator Bob Dole put it, "The record is that he was either absent or silent. I don't know what that does for him."
http://www.rotten.com/library/bio/presidents/george-hw-bush/ As I said, Poppy's pardons effecitively shut down the Iran-Contra investigation which, if it were to have continued, would have further implicated him and Saint Ronnie of Reagan.