Posted on 10/26/2005 9:18:12 PM PDT by NormsRevenge
UNITED NATIONS - More than 2,000 companies made about $1.8 billion in illicit payments to Saddam Hussein's government through extensive manipulation of the U.N. oil-for-food program in Iraq, according to key findings of a U.N.-backed investigation.
The report to be released in full Thursday by the committee probing claims of wrongdoing in the $64 billion program indicates that about half the 4,500 companies doing business with Iraq paid illegal surcharges on oil purchases or kickbacks on contracts to supply humanitarian goods.
The investigators reported that companies and individuals from 66 countries paid illegal kickbacks through a variety of devices while those paying illegal oil surcharges came from, or were registered in, 40 countries. The names will be included in Thursday's report but were not in the key findings that were obtained Wednesday by The Associated Press.
Thursday's final report of the investigation led by former U.S. Federal Reserve chairman Paul Volcker strongly criticizes the U.N. Secretariat and Security Council for failing to monitor the program and allowing the emergence of front companies and international trading concerns prepared to make illegal payments.
According to the findings, the Banque Nationale de Paris S.A., known as BNP, which held the U.N. oil-for-food escrow account, had a dual role and did not disclose fully to the United Nations the firsthand knowledge it acquired about the financial relationships that fostered the payment of illegal surcharges.
The oil-for-food program was one of the world's largest humanitarian aid operations, running from 1996-2003.
Under the program, Iraq was allowed to sell limited and then unlimited quantities of oil provided most of the money went to buy humanitarian goods. It was launched to help ordinary Iraqis cope with U.N. sanctions imposed after Saddam's 1990 invasion of Kuwait and became a lifeline for 90 percent of the country's population of 26 million.
But Saddam, who could choose the buyers of Iraqi oil and the sellers of humanitarian goods, corrupted the program by awarding contracts to and getting kickbacks from favored buyers, mostly parties who supported his regime or opposed the sanctions. He allegedly gave former government officials, journalists and U.N. officials vouchers for Iraqi oil that could then be resold at a profit.
Volcker's previous report, released in September, said lax U.N. oversight allowed Saddam's regime to pocket $1.8 billion in kickbacks in the awarding of contracts during the program's operation from 1997-2003.
The smuggling of Iraqi oil outside the program in violation of U.N. sanctions poured much more money $11 billion into Saddam's coffers during the same period, according to a finding in the new report.
The report to be released Thursday chronicles in detail Saddam's manipulation of the program and examines in detail 23 companies that paid kickbacks on humanitarian contracts including Iraqi front companies, major food providers, major trading companies, and major industrial and manufacturing companies.
According to the findings, the program was just under three years old when the Iraqi regime began openly demanding illicit payments from its customers. The report said that while U.N. officials and the Security Council were informed, little action was taken.
U.N. oil-for-food probe accuses 2,200 companies of making illicit payments to Iraq - Asharq Al-Awsat / AP ^ | 10/28/05
http://www.freerepublic.com/focus/f-news/1510907/posts
Posted on 10/28/2005 7:34:40 AM PDT by Valin
Russia Voices Skepticism on U.N. Report
http://www.freerepublic.com/focus/f-news/1511006/posts
Conflict of Interest
Indian FM rejects Iraqi oil-for-food scandal charge
Sat Oct 29, 8:45 AM ET
http://news.yahoo.com/s/afp/20051029/wl_sthasia_afp/uniraqoiljusticeindia;_ylt=AvptBVMHVXAW7S3sacbcb6KyFz4D;_ylu=X3oDMTA5aHJvMDdwBHNlYwN5bmNhdA--
NEW DELHI (AFP) - Indian Foreign Minister Natwar Singh rejected charges made in the Volcker report that he benefited from deals linked to the United Nations' oil-for-food programme for Iraq.
In a statement, Singh also denied any wrongdoing by his ruling Congress party in the 100-billion-dollar programme, which was set up by the UN Security Council amid fears ordinary Iraqis were suffering under international sanctions.
The inquiry committee, headed by former US Federal Reserve chairman Paul Volcker, found that Saddam Hussein's regime manipulated the programme to extract about 1.8 billion dollars in surcharges and bribes while an inept UN headquarters failed to exert administrative control.
According to the 500-page report, 139 companies paid illegal oil surcharges to Baghdad and 2,253 firms gave Saddam's regime kickbacks on humanitarian-related goods shipped to Iraq.
The fifth and final Volcker report at the Independent Inquiry Committee's official website www.iic-offp.org names Singh as a non-contractual beneficiary of four million barrels of oil allotted to a firm named Masefield AG.
In addition the Congress party, India's oldest political entity, is listed as beneficiary of a separate allotment of four million barrels of oil as part of the transactions.
Reliance Petroleum Ltd, a subsidiary of India's largest private sector group Reliance, is also among those who benefited from allotments now under scrutiny.
Singh in his statement said the allegations were aimed at discrediting the Congress, which had friendly ties with Baghdad until 2003 when US-led forces toppled the Iraqi regime.
"I am deeply shocked and outraged by these allegations which are baseless and untrue," Singh said in a statement at the end of his four-day visit to Russia.
"This is obviously part of a continuing campaign to malign the Congress party and its senior leaders and functionaries," Singh said, adding that after examining the report he would meet Prime Minister Manmohan Singh with his explanation.
"My record in public life for the past 50 years and more has been an open book. My personal integrity has never been questioned," Singh said.
Top Congress leader Ambika Soni rallied support for the foreign minister in New Delhi as party spokesman Anand Sharma denied any link between his party and the oil-for-food programme.
"This is absolutely wrong and any leader linked to this scandal is quite capable of defending his untarnished name," Soni, the party general secretary, told reporters.
"We are determined to take whatever steps necessary to safeguard the name, image and reputation of the party," she said as the main opposition Bharatiya Janata Party (BJP) called for an in-depth probe.
"He cannot continue as foreign minister for a minute after this and he must go immediately and the Congress party and the Indian government must set into motion its entire political and investigative machinary to find out the truth of this entire matter," BJP spokesman Arun Jaitley told reporters.
Wonder if any cohorts of Joe Wilson might be found among the profiteers in the Oil For Food scam? Joe Wilson is a scumbag and is bound to be up to his neck in this or something similar in regards to Sadaam. He doesn't strike me as a typical left winged zealot and there is more to this story. Hope it comes out in Libby's 'trial'...lol
"He allegedly gave former government officials, journalists and U.N. officials vouchers for Iraqi oil that could then be resold at a profit."
What I would like to know is, who in Washington profited, and who in Washington, if anyone, covered this up.
"He doesn't strike me as a typical left winged zealot and there is more to this story."
He strikes me as a person who will play the system for all it's worth.
"He strikes me as a person who will play the system for all it's worth."
Yes and he looks a wee bit 'oily' as well...lol
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