What does the Iran-Contra affair refer to?
A Scandal in U.S. politics where, though a complex weapons deal with Iran netted a profit, which was given to Contra rebels in Nicaragua.
A very complex and covert arrangement to get Iran's intervention on American hostages in Lebanon by having Israel sell Iran arms and those arms be replaced by the Americans. Iran had been off limits for arms sales because of their support of terrorists. Built into the deals was an over billing to Iran. This money was treated as "found" money by American security officials and given to Nicaraguan Contra rebels which President Reagan supported but Congress did not.
Complex and endless investigations followed.