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http://www.freerepublic.com/focus/f-news/1373433/posts

“One investor in all three regions, billionaire Nadhmi Auchi, is widely regarded as a corrupt supporter of Saddam Hussein’s regime who got his money from doing deals, especially illegal arms transfers for Saddam,” states the report.

Auchi is a central figure in the U.N. oil-for-food program where both U.S. Congress and a special U.N. investigation are looking into massive corruption and a missing $10 billion.

Auchi is no ordinary man but a member of Saddam Hussein’s inner circle. Auchi was tried alongside Saddam Hussein for his involvement in a conspiracy to assassinate an Iraqi prime minister in the 1950s. Auchi used money from military contracts in Iraq to establish close political, business and banking contacts in Britain and Luxembourg.

“His first business coup was to broker a deal to sell Italian frigates to the Iraqi defense ministry, for which he received millions of dollars in commission. The deal to buy the ships and other military equipment from the Italian naval shipyards, Catiri Navali Riunit, sparked an Italian parliamentary investigation into alleged bribes. Investigators discovered that a Panamanian company owned by Auchi, the Dowal Corporation, was used to funnel alleged illegal payments,” noted the May 2004 Defense Department report.

Auchi’s relationship with the British government is already under fire, with the billionaire having collected several prominent politicians as directors of his vast European empire of holdings.