Born in Iran, Hakim attended California Polytechnic Institute for 3 years, beginning in 1955. Back in Iran, he established an export business specializing in advanced technologies, and in avoiding export restrictions related to them. He also participated in Project Ibex for the CIA.
Hakim was credited with negotiating a 9-point plan known as the 'Hakim Accords', in which he negotiated the release of David P. Jacobsen, an American hostage held by the Islamic Republic of Iran from the Iran Hostage Crisis. Later, during Hakim's trial for his role in the Iran-Contra affair, Jacobsen wrote a letter in Hakim's defense in which he stated: "I would be in my fifth year of captivity had it not been for his [Hakim's] extraordinary efforts in negotiating with the Iranian representatives. Other American negotiators had given up, but Mr. Hakim continued."
Hakim moved to California in the early 1980s, and in 1983 established Stanford Technology Trading Group International (STTGI) with Major General Richard V. Secord, Retired. STTGI subsequently became involved in illegal covert operations to supply the Nicaraguan contras, as part of the Iran-Contra affair. For his part in the matter, Hakim was charged with five felonies which were dismissed and subsequently pleaded guilty in a plea bargain to a misdemeanor, and was sentenced to probation and a fine of $5000.
- Martin, Douglas (May 1, 2003). "Albert Hakim, Figure in Iran-Contra Affair, Dies at 66". New York Times. Retrieved December 28, 2009.
- Oliver, Myrna (April 30, 2003). "Albert Hakim, 66; Key Figure in Reagan Era's Iran-Contra Scandal". Los Angeles Times. Los Angeles. Retrieved May 4, 2015.
- August, Melissa; Barovick, Harriet; Bland, Elizabeth L.; Kher, Unmesh; McLaughlin, Lisa; Song, Sora (May 12, 2003). "Milestones May 12, 2003". Time Magazine. Retrieved December 28, 2009.
- Joel Bainerman. Crimes Of A President: ew Revelations on the Conspiracy and Cover Up...
- U.S. Senate Select Committee on Secret Military Assistance to Iran and the Nicaraguan Opposition, U.S. House of Representatives Select Committee to Investigate Covert Arms Transactions with Iran (1987). Report of the Congressional Committees Investigating the Iran/Contra Affair With Supplemental, Minority, and Additional Views. Washington, D.C.: United States Government Printing Office. p. 251. OCLC 16998535. S. Rept. No. 100-216, H. Rept. No. 100-433.
- Dan Morain, Los Angeles Times, 12 February 1987, CIA Contacted by Arms Middleman in 1983, Source Says
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