Saddam hid 35 billion pounds fortune in UK banks

Hindustan Times ^ | January 04 2004 | Press Trust of India

[knighthawk]

Saddam Hussein hid his 35 billion pounds fortune with the Queen's banker Coutts and Co and 17 other London banks, the ousted Iraqi leader has admitted during his interrogation by British intelligence agencies, a media report said in London on Sunday.

Saddam has confirmed that he took bulk of the fortune from the Central Bank of Iraq, transferred it to banks in the West Asia and then deposited it under false names in London, according to the Sunday Express.

Later, the money was transferred to banks in Switzerland, Germany, Japan and Bulgaria.

A spokesman for Coutts said: "We have not been formally advised of the comments alleged to have been made by Saddam Hussein during the course of his interrogation.

"However, in the event of any investigation into UK banking transactions we would, of course, fully co-operate with the relevant authorities."

A senior British intelligence source said: "Saddam is a prime target for Al-Qaeda in a case he leads the interrogator to Osama bin Laden. He has more security than Bush or Blair put together."

According to the report, the interrogation team is headed by Eliza Manningham Buller of Mi5 and Sir Richard Dearlove of Mi6.

Saddam has named top bankers and accountants who helped hide a fortune in currency and gold. They will be questioned in the coming weeks, the tabloid said.

[knighthawk]

Ping

[dawn53]

Saddam has named top bankers and accountants who helped hide a fortune in currency and gold. They will be questioned in the coming weeks, the tabloid said

WOW!

[SkyPilot]

Saddam has named top bankers and accountants who helped hide a fortune in currency and gold. They will be questioned in the coming weeks, the tabloid said.

BUSTED! I'd like to see what political donations these guys have made.

[Support Free Republic]

Here we go again folks... why not donate now and help get this fundraiser over with!

[stevem]

Sounds like another mojor source of terrorist funds is about to dry up.

[skinkinthegrass]

...the PaliArabs, still have Arfat to fund their terrorists' plans...w/the help of Ben Hidin.

[Iowa Granny]

A senior British intelligence source said: "Saddam is a prime target for Al-Qaeda in a case he leads the interrogator to Osama bin Laden. He has more security than Bush or Blair put together."

Didn't want you to miss this one.

[SJSAMPLE]

Food, medical care, medicine for sick children.

Could it be any more obvious who's responsible for the thousands of deaths of children since the end of GWI and the sanctions?

American Democrats should hang their heads in shame.

[Montfort]

Yes. That money could have bought a lot of food and medicine for all those Iraqi children.

[b4its2late]

Get the money and use it to feed and rebuild Iraq.

[Sacajaweau]

While I think we're good at interrogation, I'm inclined to think we found some paperwork and the "tale" of Saddam's flapping jaw is for the media to put out.

We love to look for wiggles and send out our "wiggle-finders".

It still boggles my mind that we found Saddam....in a spider hole and in a night time takedown besides.

[angkor]

Saddam has named top bankers and accountants who helped hide a fortune in currency and gold.

Don't forget the lawyers. They can help to run the laundry under cover of attorney-client privilege.

There was an interesting novel "Bank OF Fear" published post-1991 by David Ignatius of the Washington Post. Fiction, of course, but some good speculation about Saddam's laundering techniques.

And BTW, there is no way on earth that this 35 billion pound transfer happened overnight. Saddam has been expatriating and laundering funds for at least a decade. 35 billion British Pounds sounds about right though.

[CurlyDave]

According to the report, the interrogation team is headed by Eliza Manningham Buller of Mi5 and Sir Richard Dearlove of Mi6.

I would take this whole report with a large grain of salt.

I strongly suspect that the interrogation team is led by someone from the US.

[bandleader]

Yeah,I wonder if any of them attended BeelzeBubba's White House Koffee Klatches?

[Paladin2]

The Brits get to ask about the money in Brit banks, the US about the money in French/Swiss banks (though Saddam is probably smart enough to know that if he were to deposit in French banks, they'd (bank or more likely politicos) most likely rip him off).

[Lazamataz]

I hid twenty pounds around my a&&.

Well, okay, I didn't hide it so well.

[PatrickHenry]

Dear Friend:

I am writing to you because your name was given to me as someone I could do business with in complete confidence. I am in possession of a large sum of money entrusted to me by the former disctator of Iraq. I need your help in transfering this money from Switzerland to the United States. If you will please send me your bank account number, social security number, your mother's maden name, and a copy of your driver's license, I will then be able to deposit the sum of $75 million into your account. You may keep 20% of this for your expenses, and when I am able, I will travel to the United States in order to collect the rest from you. I trust you completely, and I hope that you will help me in this extremely delicate situation.

PS: Please tell no one about our transaction.

/s/ Baghdad Bob

[Paladin2]

The Brits get to ask about the money in Brit banks, the US about the money in French/Swiss banks (though Saddam is probably smart enough to know that if he were to deposit in French banks, they'd (bank or more likely politicos) most likely rip him off).

[ijcr]

Let's get some perspective on this issue.

In America, if I deposit $10,000+1c in my account the Federal Government wants to know where it came from.

In Britain, someone can deposit $35 Billion and nobody cares where it comes from.

Hmm!