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Texas oilman, two Swiss businessmen charged in U.N. scandal
www.courttv.com ^

Posted on 10/21/2005 8:04:14 PM PDT by kcvl

NEW YORK (AP) — A Texas oil mogul and two Swiss business executives were charged Friday with paying millions in kickbacks to Saddam Hussein's regime in the latest indictment to come out of the U.N. oil-for-food scandal.

Oscar S. Wyatt Jr., founder and former chairman of Coastal Corp., was arrested at his home in Houston. The U.S. government was seeking the extradition of oil traders Catalina del Socorro Miguel Fuentes and Mohammed Saidji from Switzerland.

The United Nations set up the oil-for-food program in the 1990s as part of an effort to punish Saddam's regime without making the Iraqi people suffer. Iraq was allowed to sell its crude oil, but the proceeds were supposed to go toward food and other humanitarian aid for the Iraqis.

The program was found to be rife with corruption. Authorities said Saddam began insisting that those he dealt with pay kickbacks. Investigators suspect Saddam's regime pocketed $10.2 billion in payoffs and other illegal oil sales.

In April, federal prosecutors charged two other Houston oilmen and a British citizen with taking part in the corruption.

If convicted of conspiracy and other charges, the three men named in the latest federal indictment could get 62 years in prison and a fine of $1 million, or twice the illicit gains they allegedly received.

A call to a lawyer for Wyatt was not immediately returned.

On Thursday, Manhattan's district attorney announced that a Virginia oil-trading company pleaded guilty to grand larceny in an oil-for-food program kickback scheme, and agreed to pay a $250,000 fine.

In January, an Iraqi-born American businessman accused of skimming oil-for-food money admitted to being an illegal agent of Saddam's government.


TOPICS: Front Page News; News/Current Events
KEYWORDS: businessmen; oilforfood; oilmen; stephanedujarric; unitednations; untiednations
Navigation: use the links below to view more comments.
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1 posted on 10/21/2005 8:04:14 PM PDT by kcvl
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To: Mo1; Howlin

TOP DONORS

Here is a list of individuals, companies and political organizations that donated at least $50,000 to Democratic Gov.-elect Bill Richardson's campaign:


$5,000 Oscar S. Wyatt Jr., Houston, Texas Business owner


******



WYATT, OSCAR S
HOUSTON, TX 77046
COASTAL CORP

DNC-NON-FEDERAL INDIVIDUAL
11/09/2000 100000.00 20036584308

RNC REPUBLICAN NATIONAL STATE ELECTIONS COMMITTEE
11/07/2000 100000.00 20036566056

WYATT, OSCAR S
HOUSTON, TX 77046
COASTAL CORPORATION

DSCC/NON-FED UNINCORP ASSOC
08/13/2002 40000.00 22020641854

Total Soft Money: 240000.00


Contributions to Political Committees

WYATT, OSCAR
HOUSTON, TX 77046
COASTAL CORP

GREEN, RAYMOND EUGENE 'GENE'
VIA GENE GREEN CONGRESSIONAL CAMPAIGN
09/20/1998 1000.00 98033720076

WYATT, OSCAR
HOUSTON, TX 77046
RETIRED

KERREY, J ROBERT
VIA KERREY FOR U S SENATE COMMITTEE
10/30/1999 1000.00 20020071458

WYATT, OSCAR S
HOUSTON, TX 77046
COASTAL CORPORATION

DEMOCRATIC SENATORIAL CAMPAIGN COMMITTEE
07/28/1997 10000.00 97032344560

WYATT, OSCAR S
HOUSTON, TX 77046
NUCOASTAL/CHAIRMAN & CEO

DEMOCRATIC CONGRESSIONAL CAMPAIGN COMMITTEE
03/31/2004 5000.00 24991153675

WYATT, OSCAR S JR
HOUSTON, TX 77046
COASTAL CORP

DASCHLE, THOMAS ANDREW
VIA A LOT OF PEOPLE SUPPORTING TOM DASCHLE INC
09/19/1997 1000.00 98020052612

WYATT, OSCAR S JR
HOUSTON, TX 77046
COASTAL CORPORATION

KENNEDY, JOSEPH P II
VIA CITIZENS FOR JOE KENNEDY 1988
03/17/1997 500.00 97032290515

MCCAIN, JOHN S
VIA MCCAIN FOR SENATE '98
05/27/1997 1000.00 97020091812
05/27/1997 1000.00 97020091812

WYATT, OSCAR S JR
HOUSTON, TX 77046
COSTAL CORPORATION

DINGELL, JOHN D.
VIA JOHN D. DINGELL FOR CONGRESS COMMITTEE
07/31/2000 1000.00 20036123512

WYATT, OSCAR S JR
HOUSTON, TX 77046
RETIRED

BENTSEN, KENNETH EDWARD JR
VIA KEN BENTSEN FOR US SENATE COMMITTEE
10/09/2001 1000.00 22020300712

ROCKEFELLER, JOHN DAVISON IV
VIA FRIENDS OF SENATOR ROCKEFELLER
06/22/2001 1000.00 21020111754

WYATT, OSCAR S JR
HOUSTON, TX 77046
THE COASTAL CORPORATION

BREAUX, JOHN B
VIA JOHN BREAUX COMMITTEE
04/27/1998 1000.00 98020142089
04/27/1998 1000.00 98020142089

WYATT, OSCAR S. JR.
HOUSTON, TX 77046
SELF-EMPLOYED/ENGINEER

DINGELL, JOHN D.
VIA JOHN D. DINGELL FOR CONGRESS COMMITTEE
07/18/2002 1000.00 22992116848
07/18/2002 1000.00 22992116849

WYATT, OSCAR S. MR. JR.
HOUSTON, TX 77046
RETIRED

BENTSEN, KENNETH EDWARD JR
VIA KEN BENTSEN FOR CONGRESS COMMITTEE
10/09/2001 1000.00 22990345751

MCCAIN, JOHN S
VIA MCCAIN 2000 INC
01/31/2000 1000.00 20990048188

WYATT, OSCAR S. MR. JR.
HOUSTON, TX 77046
SELF EMPLOYED/RETIRED

BELL, R CHRISTOPHER
VIA CHRIS BELL U.S. CONGRESS COMMITTEE
03/09/2004 1000.00 24991066232



******



Newsweek drops a bombshell on the Kerry Campaign: Texas Oil Baron and Big-Time Democrat Donor Oscar Wyatt has received perhaps as much a $22 million dollars in profits through oil allocations bought illicity from Saddam Hussein.

From MSNBC: United Nations: Oil-for-Food Fiasco?"

Law-enforcement sources say Americans who participated in alleged oil-for-food scams also may face further investigation. The CIA deleted from Duelfer's report names of Saddam's U.S. oil-for-food favorites. But an uncensored copy of the Duelfer report obtained by NEWSWEEK indicates Houston oil mogul Oscar Wyatt got oil allocations from Saddam which could have earned him and Coastal Corp.?a company he founded and ran until 2000?profits of more than $22 million. Wyatt and wife Lynn are major donors to political causes: since 1989 they have given nearly $700,000 in contributions, of which more than $500,000 went to Democrats. Wyatt told NEWSWEEK that his company did buy oil from Saddam but that he never did so personally, and that his company's dealings all complied with U.N. rules. ?Mark Hosenball and Steve Tuttle

Who is Oscar Wyatt? More than just a oil man, he's an outspoken critic of both Gulf Wars, and a big time Democratic Party Donor...

As per Houston's Clear Thinkers:

The 10-K also disclosed that one of El Paso's units has been subpoenaed by a grand jury from the U.S. District Court for the Southern District of New York to produce records regarding the United Nations' Oil for Food Program governing sales of Iraqi oil. The unit, El Paso CGP Company, was formerly Coastal Corp., which the company acquired in January 2001. The former chairman of Coastal -- Oscar Wyatt -- was an unabashed critic of Operation Desert Storm in the first Persian Gulf War and has been a vocal public critic of El Paso's management over the past several years.

Wyatt appears to have used his ill-gotten gains wisely - buying the leftovers of Enron.

According to New Age Business:

Enron said that the company and the Official Unsecured Creditor's Committee decided the CCE offer was best. Enron previously had said NuCoastal LLC, a company run by Texas billionaire and Coastal Corp. founder Oscar Wyatt Jr. had offered $2.2 billion in May.


http://tinyurl.com/duyrq


2 posted on 10/21/2005 8:15:14 PM PDT by kcvl
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To: backhoe

More information for your files...


Prosecutors said Catalina del Socorro and Mohammed Saudj, who ran the Swiss consulting firm Sarenco, worked closely with Wyatt and his companies to hide kickbacks. The U.S. government was seeking their extradition from Switzerland.

Wyatt’s companies, Nafta Petroleum and Mednafta, as well as Sarenco, allegedly appeared on what Saddam regime officials dubbed "Saddam’s bribery list."

The list was intended to spread billions of dollars around the globe via illegal oil allocations in an attempt to support the ousted leader’s regime. In return for receiving the kickbacks, Saddam’s regime wanted politicians and businessmen to pressure the U.N. Security Council (search) to drop the sanctions against Iraq.

In April, federal prosecutors charged two other Houston oilmen and a British citizen with taking part in the corruption.

If convicted of conspiracy and other charges, the three people named in this latest federal indictment could get 62 years in prison and a fine of $1 million, or twice the illicit gains they allegedly received.

A call to a lawyer for Wyatt was not immediately returned.

On Thursday, Manhattan's district attorney announced that a Virginia oil-trading company pleaded guilty to grand larceny in an oil-for-food program kickback scheme, and agreed to pay a $250,000 fine.

In January, an Iraqi-born American businessman accused of skimming oil-for-food money admitted to being an illegal agent of Saddam's government.

The Associated Press contributed to this report.


http://www.foxnews.com/story/0,2933,173063,00.html


3 posted on 10/21/2005 8:19:00 PM PDT by kcvl
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To: kcvl


I can't help but wonder if this is why the UN was opposed to the invasion of Iraq (they knew what we'd find there.)


4 posted on 10/21/2005 8:38:29 PM PDT by Tzimisce
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To: Tzimisce

It makes one wonder that's for sure.


5 posted on 10/21/2005 8:42:55 PM PDT by kcvl
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To: kcvl; Howlin; Miss Marple; Dog
The CIA deleted from Duelfer's report names of Saddam's U.S. oil-for-food favorites

Is there a reason the CIA deleted the names??

And an Enron connect with a Dem Donar?? ... HAHAHAHAHAHA

Oh and I did catch McPains name on that list also

6 posted on 10/21/2005 9:03:36 PM PDT by Mo1
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To: kcvl

Great post! Thanks for the additional information and all of the research that you do, kcvl.


7 posted on 10/21/2005 9:08:46 PM PDT by PGalt
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To: kcvl
Wyatt told NEWSWEEK that his company did buy oil from Saddam but that he never did so personally, and that his company's dealings all complied with U.N. rules.

I'm sure they did abide by the UN rules of required kickbacks, unfortunately for them those rules seem to be against the law in the United States.

8 posted on 10/21/2005 9:24:26 PM PDT by RJL
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To: kcvl

OMG! What has Oscar done now? If you have a ping list for this, put me on it. Know him well. Haven't read this yet, have to check on hurricane news and will come back. I can't believe this. Whatever it is, he'll get out of it.


9 posted on 10/21/2005 9:25:28 PM PDT by Rte66
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To: Mo1

Wonder if the Swiss businessmen were connected to Marc Rich.


10 posted on 10/21/2005 9:33:44 PM PDT by gov_bean_ counter (It is easy to call for a pi$$ing contest when you aren't going to be in the line of fire.)
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To: Rte66

"Know him well."

"Whatever it is, he'll get out of it."




Well, SPILL IT! lol!


11 posted on 10/21/2005 10:58:57 PM PDT by kcvl
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To: kcvl

Haven't had time to absorb this yet. I wasn't in on the oil-for-food situation from the beginning, so I'd be starting from scratch and I'm not sure what to think about it right now.

I wonder why this wasn't on our TV news tonight. Maybe it was and I missed it. Give me some time to get up to speed. Heh, can you tell I did PR for the guy? "What can I say, what can't I say?" Just kidding - I'll tell whatever's pertinent.


12 posted on 10/22/2005 12:12:40 AM PDT by Rte66
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To: Rte66

October 19, 2004
Oscar Wyatt's deal with the devil

This NY Times article follows up on last week's news that longtime Houstonian Oscar Wyatt is one of three individuals and four companies that federal investigators are focusing on for who allegedly receiving vouchers for oil from Saddam Hussein as he sought to flout United Nations sanctions. The Times article notes the close relationship between Mr. Wyatt and Saddam:

Mr. Wyatt . . . traveled to Baghdad as recently as early 2003, as the United States was preparing for war, to meet with officials in Mr. Hussein's government. Mr. Wyatt - once called in Texas Monthly magazine "the most hated oilman in Texas" - met Mr. Hussein in 1972, just after Iraq's oil industry had been nationalized, and eventually became one of the biggest United States importers of Iraqi oil.

The two met again in 1990, after Iraq invaded Kuwait and Mr. Wyatt flew to Baghdad on a company jet to help negotiate the release of nearly two dozen American oil workers whom Mr. Hussein had turned into "human shields."

The relationship was so close that when the United Nations authorized Iraq in 1996 to begin selling oil again, under the Oil for Food program, Mr. Wyatt and Coastal secured the first tanker shipment to leave the country.

And that close relationship is at the heart of the criminal investigation into Mr. Wyatt's activities:

The years of effort on Mr. Wyatt's part to court Iraqi officials and build a venture to export Iraqi oil to the United States produced ample rewards: he and companies that he has been linked to earned an estimated $23 million in profit in the seven years of the Oil for Food program, according to sales and profit estimates included in the C.I.A. report by Charles Duelfer; Mr. Wyatt disputes that figure.

And, lest we forget, Mr. Wyatt's used his relationship with Saddam to attain a humanitarian achievement:

By the late 1980's, Coastal was importing as much as 250,000 barrels of oil a day from Iraq. As these oil imports became more and more important to Coastal's operations, Mr. Wyatt became more outspoken in his opposition to any threatened or standing trade sanctions by the United States in the Middle East, . . . including a move by Congress to impose restrictions on trade with Iraq after Mr. Hussein used poison gas against the Kurds.

It was Mr. Wyatt's surprise trip to Baghdad in December 1990, however, that finally brought his relationship with Iraq into the spotlight. He met then with Mr. Hussein to negotiate the release of American hostages. The effort was opposed by the administration of George H. W. Bush, but Mr. Wyatt came home a hero and he wept at a meeting of the released hostages and their families.

"It was not a stunt," said Bobby Parker, a drilling rig electrician who had been held for 128 days before being rescued. "Oscar Wyatt is just not that type of person."

The hostages were safe, but ultimately, Mr. Wyatt's goal had not been fully achieved. He had hoped to prevent a military move by the United States on Iraqi-occupied Kuwait, a war that, he said, the United States had no reason to start.

Five years later in 1996, Mr. Wyatt's relations with Iraq were again in the news:

Mr. Wyatt's ties to Iraq again raised eyebrows, when the first tanker laden with crude oil sailed out of Mina al-Bakr, Iraq's main export oil terminal, in December 1996, in Iraq's legal return to global oil markets.

The ship had been chartered by one of Mr. Wyatt's companies.

This was the start of the Oil for Food program, which ultimately would result in the export of 3.4 billion barrels, earning $65 billion for the Iraqi government over the next seven years, money that was used to buy food and medicine, maintain oil fields and pay reparations from the first gulf war, among other spending.

My Wyatt, through spokespersons, declines to comment on any of this other than to deny that he engaged in any wrongdoing with regard to his business relations with Iraq. However, the Times article notes that one competitor characterized Mr. Wyatt's propensity to enter into difficult business deals in the following manner:

"He is not afraid of the devil."


http://tinyurl.com/a45ew


The Man Who Bought the Oil From Iraq
By SIMON ROMERO and ERIC LIPTON

Published: October 19, 2004

HOUSTON, Oct. 18 - Billions of dollars of Iraqi oil had been sold under a United Nations program - and food and other goods bought with the proceeds - when Saddam Hussein decided in 2000 that he personally wanted a bigger cut of the action. Documents now suggest that at least one United States company acceded to that demand, paying surcharges that kept the oil flowing.

The action by the Coastal Corporation, which was founded by the Texas entrepreneur and oilman Oscar S. Wyatt Jr., is detailed in a formal Iraqi government tally of secret payments made from September 2000 to December 2003, when steps were taken by American and British officials to stop the surcharges.

Coastal, the only publicly traded American oil company on the list, is shown as having paid $201,877 in surcharges. It is a small piece of the $228 million in surcharges on oil sales that Mr. Hussein collected, largely from Russian companies, according to a Central Intelligence Agency report released last week.

Mr. Wyatt, a former drill-bit salesman in South Texas who built a hydra-headed energy empire, said through a spokeswoman Monday that he had no knowledge of Coastal's paying any surcharges. A spokeswoman for the El Paso Corporation, which acquired Coastal in 2001, declined to comment, citing a grand jury subpoena the company received from a federal court in New York.

The inclusion of Coastal on the list - prepared by postwar officials from the State Oil Marketing Organization of Iraq - is one indication of the special relationship that Mr. Wyatt and Coastal had with Iraq, dating back three decades.

Mr. Wyatt, 80, acknowledged Monday through the spokeswoman that he had traveled to Baghdad as recently as early 2003, as the United States was preparing for war, to meet with officials in Mr. Hussein's government. Mr. Wyatt - once called in Texas Monthly magazine "the most hated oilman in Texas" - met Mr. Hussein in 1972, just after Iraq's oil industry had been nationalized, and eventually became one of the biggest United States importers of Iraqi oil.

The two met again in 1990, after Iraq invaded Kuwait and Mr. Wyatt flew to Baghdad on a company jet to help negotiate the release of nearly two dozen American oil workers whom Mr. Hussein had turned into "human shields."

The relationship was so close that when the United Nations authorized Iraq in 1996 to begin selling oil again, under the Oil for Food program, Mr. Wyatt and Coastal secured the first tanker shipment to leave the country.

After Coastal was sold to El Paso, Mr. Wyatt is listed personally as the recipient of an Iraqi oil allocation and Coastal was no longer listed. United States companies were not allowed to have any direct contact with the Iraqi government outside of the official Oil for Food program, and any money that went to Mr. Hussein's government was supposed to be used only to pay for food, medicine and other approved items.

Mr. Wyatt said in an interview earlier this year that he was aware that it was a common practice within the Iraqi oil industry for companies to pay surcharges, generally 10 to 35 cents a barrel.

Regarding Coastal's shipments, Mr. Wyatt said in the interview that company executives had no doubt that a broker, but not the company, had to pay a surcharge. Mr. Wyatt said Coastal officials also told him that "there was always a charge at the port" as well.

The years of effort on Mr. Wyatt's part to court Iraqi officials and build a venture to export Iraqi oil to the United States produced ample rewards: he and companies that he has been linked to earned an estimated $23 million in profit in the seven years of the Oil for Food program, according to sales and profit estimates included in the C.I.A. report by Charles Duelfer; Mr. Wyatt disputes that figure.

The unusually close ties with Mr. Hussein's Iraq and the inclusion of Coastal on this list of entities that paid the surcharges have drawn Mr. Wyatt into a maelstrom of inquiries, including efforts by committees in Congress and officials at the Treasury Department and the United States attorney's office in Manhattan.

"If you did not pay, you did not play," said a spokesman for the House International Relations Committee, which is investigating the Oil for Food program, including the operations of Mr. Wyatt and other oil traders. "We have an obligation to find out what happened."


Continued
1 | 2 | 3 | Next>>



http://tinyurl.com/a45ew


13 posted on 10/22/2005 1:15:08 AM PDT by kcvl
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To: kcvl

BIG TIME bttt.


14 posted on 10/22/2005 1:18:33 AM PDT by nopardons
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To: kcvl

bttt


15 posted on 10/22/2005 1:19:14 AM PDT by nopardons
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To: Rte66


http://graphics8.nytimes.com/images/2004/10/19/business/19wyatt.andwife.jpg



Oscar S. Wyatt Jr. and his wife, Lynn.





http://graphics8.nytimes.com/images/2004/10/18/business/19wyatt.bwxl.jpg




Associated Press

Mr. Wyatt, far right, and John B. Connally, second from right, the former Texas governor, went to Baghdad in 1990 and won the release of several hostages, including a British man, pictured with his wife.




It would be more than five years before Mr. Wyatt's ties to Iraq again raised eyebrows, when the first tanker laden with crude oil sailed out of Mina al-Bakr, Iraq's main export oil terminal, in December 1996, in Iraq's legal return to global oil markets.

The ship had been chartered by one of Mr. Wyatt's companies.

This was the start of the Oil for Food program, which ultimately would result in the export of 3.4 billion barrels, earning $65 billion for the Iraqi government over the next seven years, money that was used to buy food and medicine, maintain oil fields and pay reparations from the first gulf war, among other spending.

To maintain at least a hint of sovereignty, the United Nations allowed Mr. Hussein to pick the customers he would sell oil to and those contractors he would buy goods from, although the United Nations was supposed to monitor every sale or purchase and had the right to reject any proposed contract.

From the start, Mr. Hussein was apparently looking for ways to defraud the system, federal investigators say. First, investigators said, he was smuggling oil out of Iraq beyond the limits imposed by the Oil for Food program. He was also demanding payments from contractors that wanted to sell goods to Iraq. And finally, during part of the program, he was demanding that companies or individuals who intended to purchase oil, pay a surcharge for that right, the report by Mr. Duelfer says.

In total, the actions earned Mr. Hussein an estimated $11 billion in improper profits, the report says.

Mr. Wyatt declined, through his spokeswoman, to explain exactly what motivated his trip to Iraq in early 2003, in the final months of the Oil for Food program. He again was listed among the parties who were offered an allocation by the government, the 13th time in of the program's 13 phases that his name or Coastal's appeared on the allocation list.


But in this instance, no one ever picked up the final allotment that was granted.

The spokesman for the House International Relations Committee said that even if Mr. Wyatt or any other United States citizens or businesses did not pay surcharges, the committee members want to know how they ended up on Mr. Hussein's allocation list.

Mr. Wyatt, listed through Coastal or as an individual, is the only American who was granted allocations that resulted in oil being acquired in each of the periods in which the surcharges were being assessed, according to the Duelfer report.


Mr. Wyatt's name is on this list as having taken eight million barrels of oil.





16 posted on 10/22/2005 1:22:09 AM PDT by kcvl
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To: kcvl

bttt


17 posted on 10/22/2005 1:22:19 AM PDT by nopardons
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To: nopardons


PARTY DATE RECIPIENT NAME CONTRIBUTION
AMOUNT

#
WYATT, OSCAR S 11/9/2000 DNC/Non-Federal Individual $100,000
#
WYATT, OSCAR S 11/7/2000 RNC/Repub National State Elections Cmte $100,000
#
WYATT, O S JR 10/30/2000 DCCC/Non-Federal Account 5 $15,000
#
WYATT, O S JR 10/30/2000 DCCC/Non-Federal Account 5 $10,000
#
WYATT, O S 10/4/2000 Texas Democratic Party $2,000
#
WYATT, O S 9/29/2000 Lampson, Nick $1,000
#
WYATT, O S 6/15/1999 Bingaman, Jeff $1,000
#
WYATT, OSCAR 10/30/1999 Kerrey, Bob $1,000
#
WYATT, OSCAR S JR 7/31/2000 Dingell, John D $1,000
#
WYATT, O S JR 9/27/2000 Sandlin, Max $1,000
#
WYATT, O S JR 8/20/2000 Gephardt, Richard A $1,000
#
WYATT, O S JR 5/26/2000 Bernstein, Ed $1,000
#
WYATT, O S JR 8/31/1999 Democratic Congressional Campaign Cmte $1,000
#
WYATT, O S JR 10/24/2000 Clinton, Hillary Rodham $1,000
#
WYATT, O S JR 4/14/2000 DASHPAC $1,000
#
WYATT, OSCAR S MR JR 1/31/2000 McCain, John $1,000
#


18 posted on 10/22/2005 1:24:47 AM PDT by kcvl
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To: nopardons

IRAQ: Oil-for-Food probe hits U.S. Oil Companies

Exxon, Chevron and El Paso Are Named in CIA Report On Hussein-Era Program

by By Jess Bravin in New York, John D. Mckinnnon in Washington and Russel Gold Dallas, Wall Street Journal

A federal grand jury in Manhattan is investigating whether there was corruption in the Oil-for-Food program. Exxon, El Paso, and Chevron previously confirmed that they were among companies to receive subpoenas. Others identified in the Duelfer report as receiving the vouchers include Bayoil, a closely held Houston oil company, and three individuals who campaigned to end the Iraq sanctions: Oscar Wyatt, of Houston; Shakir al Khafaji, of West Bloomfield, Mich.; and Samir Vincent, of Annandale, Va. Together, the companies and individuals received vouchers valued at 111 million barrels of oil, according to the Duelfer report.

-snip-

The Duelfer report lists hundreds of foreign companies and individuals who allegedly received Iraqi oil vouchers -- including Mr. Sevan -- but not the U.S. companies and citizens. The names were included in versions sent to congressional committees, however, and officials confirmed their accuracy.

-snip-

http://www.corpwatch.org/article.php?id=11569





A federal grand jury in New York is investigating oil transactions under the program, according to several companies that have received subpoenas. Several congressional committees also are investigating the oil transactions, as is a U.N.-appointed panel.

A spokesman for the United Nations, Stephane Dujarric, said he could not comment on whether the U.S. companies followed requirements to obtain Iraqi oil. A spokeswoman for the Treasury Department, Molly Millerwise, said the Office of Foreign Assets Control is reviewing the licenses it issued as part of the oil-for-food program to determine whether laws were broken.

The report by Duelfer also named these individuals as having received vouchers: Oscar S. Wyatt Jr., a Texas oilman; Samir Vincent, a Fairfax County businessman; and Shakir Khafaji of the Detroit area. None returned phone calls.

In addition, the report named Bayoil and Coastal Corp., which has since become part of El Paso Corp. Bayoil officials did not return phone calls. El Paso Corp. recently filed documents with the Securities and Exchange Commission saying it had been subpoenaed by the grand jury investigating the oil transactions. A company spokeswoman said she could not provide additional comment.

The vouchers were potentially profitable. The report estimated profit margins of 15 cents a barrel to 85 cents a barrel.

-snip-

http://www.washingtonpost.com/wp-dyn/articles/A25416-2004Oct11.html






ENRON ANNOUNCES SALE OF CROSSCOUNTRY ENERGY TO NUCOASTAL LLC FOR $2.2 BILLION
FOR IMMEDIATE RELEASE: Friday, May 21, 2004

HOUSTON – Enron announced today that it has reached an agreement with NuCoastal LLC, whose owners are affiliates of Kelso & Company, ArcLight Capital Partners LLC, Citigroup, and Oscar S. Wyatt, Jr., for the sale of CrossCountry Energy, Enron’s North American natural gas pipeline business.

The transaction, which has been approved by the Enron Board of Directors and is supported by the Official Unsecured Creditors’ Committee, requires the approval of the Bankruptcy Court, which will oversee an “overbid” process to give other potential buyers an opportunity to submit superior bids. Enron is expected to file the sale agreement with the Bankruptcy Court early next week.

The transaction purchase price of approximately $2.2 billion includes the assumption of outstanding Transwestern debt, which is approximately $430 million.

“This sale agreement provides the best value for our creditors and reflects a stronger market for quality, high-performing energy assets than we had seen two years ago,” said Stephen F. Cooper, acting CEO and chief restructuring officer of Enron.


19 posted on 10/22/2005 1:27:29 AM PDT by kcvl
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To: nopardons

Other suspects include former French interior minister Charles Pasqua, the former head of the Russian presidential administration Alexander Voloshin, British lawmaker George Galloway, the son of U.N. Secretary-General Kofi Annan, and American oil traders Ben Pollner of New York, and David Chalmers Jr. and Oscar S. Wyatt Jr., both from Houston.


20 posted on 10/22/2005 1:29:31 AM PDT by kcvl
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