Free Republic

Special report: Next month’s UN report will drag British-based miner Xstrata into the controversy over surcharges paid to Saddam.... Glencore is also known as the company founded by Marc Rich, the commodities trader who fled to Switzerland from the US after being charged for embargo-busting in Iran following the Khomeini revolution. Four years ago, Rich was pardoned by President Bill Clinton on Clinton’s last day in the White House.

"...Yet this pastoral playground is the home base of Marc Rich, the former fugitive billionaire commodities trader, who was pardoned by Bill Clinton in his last day as U.S. president in early 2002. It is also the headquarters of Xstrata PLC, the mining powerhouse which Monday bought 19.9 per cent of Canadian nickel giant Falconbridge Ltd., putting it in position to launch a potential takeover bid for the company. Xstrata often gets mentioned in the same breath as Mr. Rich. Both are part of the huge trading community drawn to Zug by extremely low taxes, privacy and comfortable surroundings. (Canadian...

TONY EASTLEY: To a special investigation of the company behind Xstrata, the global mining giant bidding for the nickel, copper and uranium company, WMC Resources. Xstrata's $8-billion takeover bid for WMC is being undermined by the reputation of its controlling shareholder, the secretive Swiss commodities trader Glencore. Last year, a CIA report raised allegations that Glencore paid millions in illegal kickbacks to Saddam Hussein's regime. Glencore was founded by a notorious fugitive from US justice - a man facing jail for tax fraud, racketeering, and named as an arms trader, before being mysteriously pardoned by former US President Bill Clinton.