Race Is On to Locate Hussein's Billions

Washington Post ^ | April 12, 2003 | Michael Dobbs and John Mintz

[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.

[yankeedame]

I see a movie in this...

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[shiva]

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.

Hey! While you're at it, look to see how much the Clinton's have.