Yep.
You won't see much of that (if anything at all) in the lame-stream-media.
Volcker: U.N. Didn't Stop Saddam's Smuggling
UNITED NATIONS — The head of an independent investigation into alleged corruption in the U.N. oil-for-food program said most of the money illegally obtained by Saddam Hussein came from smuggling, much of which the U.N. Security Council knew about but didn't stop...
...In a report in October, top U.S. weapons investigator Charles Duelfer said Saddam was able to "subvert" the oil-for-food program to generate an estimated US$1.7 billion in revenue outside U.N. control from 1997-2003. In addition, Iraq brought in over US$8 billion in illicit oil deals with Jordan, Syria, Turkey and Egypt through smuggling or illegal pumping from 1991-2003 when sanctions were in place, he said...
(excerpted)
http://www.foxnews.com/story/0,2933,142689,00.html