Posted on 04/12/2003 4:31:11 AM PDT by sarcasm
The hunt is on for billions of dollars in ill-gotten assets accumulated by the family of Saddam Hussein, now believed to be scattered in a labyrinthine network of front companies and secret bank accounts from Panama to Switzerland to Jordan.
As U.S. forces moved into Baghdad and other Iraqi cities, investigators reported signs of large sums of money moving from Iraqi government-controlled accounts to private accounts in the Middle East. "People with connections are trying to loot what they can," said one private investigator with access to information about money flows around the region.
< SNIP >
One of the Iraqi assets that the Kroll firm managed to track down in 1991 was a front company named Montana Management, which appeared to be typical of the operations of Saddam Inc. Although it was registered in Panama, the company operated out of Switzerland. Montana owned an 8.4 percent share in the French publishing company Hachette Filipacchi Media, whose publications include Elle, Car & Driver and Premiere. It also owned a 2.5 percent holding in Matra, the French missile and defense electronics manufacturer.
(Excerpt) Read more at washingtonpost.com ...
|
|
![]() |
FreeRepublic , LLC PO BOX 9771 FRESNO, CA 93794
|
It is in the breaking news sidebar! |
Hey! While you're at it, look to see how much the Clinton's have.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.