U.N.: 2,000 Firm Gave Iraq Illicit Funds

[maddezmom]

UNITED NATIONS - More than 2,000 companies paid about $1.8 billion in illicit kickbacks and surcharges 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 obtained by The Associated Press.

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 obtained Wednesday by the AP.

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.

more:http://news.yahoo.com/s/ap/20051027/ap_on_re_mi_ea/un_oil_for_food;_

[goodboy]

1. I wonder if any of CHeney's companies are involved?

[maddezmom]

2. looks like Berlusconi is going to be named

~snip~


Berlusconi, Italian prime minister, will be one of a handful of international political figures named in the United Nations inquiry into corruption in the Iraqi oil-for-food programme.

Through a spokesperson, Mr Formigoni said on Tuesday: "I reiterate what I already said: I never took a single drop of oil,nor a single dinar."

The tabular content relating to this article is not available to view. Apologies in advance for the inconvenience caused.UN investigators found no evidence that Mr Formigoni directly benefited from the sale of Iraqi oil. But the Financial Times and Il Sole 24 Ore have learnt that they did find evidence that allocations were received in his name by Cogep, a Milanese firm controlled by the Catanese family.

~snip~
http://news.yahoo.com/s/ft/20051027/bs_ft/fto102720050400154625

[rooboy]

3. Meanwhile, Norm Coleman's hot on the trail of George Galloway...

:eyes:

[emad]

4. Oil-for-Food report will name companies that bribed Saddam

By Times Online and agencies

More than 2,200 companies helped to enrich Saddam Hussein's regime by paying a total of $1.5 billion in illegal bribes as they scrambled to profit from the United Nations Oil-for-Food programme, an inquiry is expected to report today.

The Independent Inquiry Committee led by Paul Volcker, the former chairman of the US Federal Reserve, will say that the bribes were paid in the form of "fees" for transporting goods to the interior of Iraq, or "after-sales-service".

The UN asked Mr Volcker to investigate claims of wrongdoing in the $64 billion programme, which was supposed to be a method for Iraq to raise money to buy food and medicines abroad.

Despite international sanctions, the scheme turned into a corrupt free-for-all with 4,500 companies jostling for a slice of the business, the report is expected to say.
http://www.timesonline.co.uk/article/0,,7374-1845432,00.html

[texpatriot2004]

5. Can't wait to see the list. nm

[emad]

6. Halliburton?

?etc

[go west young man]

7. Don't you love the way the A.P. article mentions a Swede comapny

and the location of Daimler Chrysler as being in Germany but doesn't touch on anything American? The A.P. is shit these days and more people need to be aware of it. I have been emailing the Gaurdian in the U.K. and informing them they need to drop A.P. as they make thier paper look pathetic. Reuters is much more credible.

[mistertrickster]

8. Independent Inquiry Committee into UN Oil-for-Food Programme

Here's the link to the full report. PDF format. (Note that page numbers of text do not exactly match PDF page numbers.)

http://www.iic-offp.org/documents/IIC%20Final%20Report%2027Oct2005.pdf

Apparently, American companies were largely cut out by vengeful Iraqis, but one US company, Coastal Oil of Houston, was a clear beneficiary.