Posted on 10/20/2005 9:38:48 AM PDT by NormsRevenge
NEW YORK (AP) - A Virginia oil trading company has pleaded guilty to grand larceny in the United Nations oil-for-food scandal, prosecutors said Thursday.
Midway Trading of Reston, Va., was accused of being part of a scheme to pay kickbacks to Iraq in connection with oil purchases made under the program, Manhattan District Attorney Robert Morgenthau said.
The company will pay a $250,000 fine for its guilty plea to first-degree grand larceny, Morgenthau said.
Midway and a trading partner, Bulf Oil, are accused of paying more than $440,000 in kickbacks to Iraqi officials in connection with oil purchases, but falsely telling the U.N that no kickbacks were paid.
Mike Holtzman, spokesman for the U.N.-backed Independent Inquiry Committee, which has been investigating oil-for-food, would not say whether it had worked with Morgenthau on the case, but said that the committee and the district attorney have cooperated in the past.
Wonder if they were a recipient of oil contracts that slick willie doled out to his friends during his dipping into the oil reserves to get hitlery elected.
I guess they should have spread their tribute payments around a little better...............
Just find a PO box number for them and an executive that gave $ 180 to the RNC.
So many front companies and pass thru companies in Northern Va. are set up for Overseas clients to hide money ( and bribes)from their governments.
Shouldn't that read "The company will pay a $250,000 fine plus any money made through these illegal transactions for its guilty plea to first-degree grand larceny"...
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