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Final answer:
The Iran-Contra Affair involved Reagan overseeing funds to Nicaraguan rebels, Oliver North facilitating covert weapon sales, and illegal actions by the Reagan administration.
Explanation:
President Reagan directly oversaw the transfer of funds from arms sales to Nicaraguan rebels known as the Contras. Oliver North, a member of the National Security Council, played a key role in raising money to support the Contras by selling American missiles to Iran covertly. The Iran-Contra Affair involved illegal covert actions by the Reagan administration, including the covert sale of missiles to Iran and funneling the proceeds to the Contras in Nicaragua.
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