Complex sentence: James R. Bath was a former director of BCCI, and part owner of Arbusto Energy, which was formed by George W. Bush, with whom he served as a member of the Texas Air National Guard.
Split into simpler sentences: James R. Bath was a former director of BCCI, and part owner of Arbusto Energy. Arbusto was formed by George W. Bush, with whom Bath served as a member of the Texas Air National Guard.