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U.S. says Annan isn't exonerated
Bakersfield Californian ^ | 4/21/05 | Nick Wadhams - AP

Posted on 04/21/2005 10:13:33 PM PDT by NormsRevenge

UNITED NATIONS (AP) - A U.S. State Department official said Thursday that an interim report on bribery and other wrongdoing in the U.N. oil-for-food program didn't exonerate Kofi Annan as the secretary-general had proclaimed.

The statement from Mark Lagon, the Deputy Assistant Secretary of State for International Organization Affairs, was the first time the United States had rebutted Annan's claim, made shortly after the release of the report on March 29, that he had been cleared by the committee.

Annan came under fresh scrutiny a day after The Associated Press reported that two senior investigators with the Independent Inquiry Committee resigned because they believed the report that cleared the secretary-general of meddling in the $64 billion program was too soft on him.

Lagon said the resignations were further reason to suggest Annan wasn't cleared.

"It appears that two people who had a hand in forming that report think that even what the report said was perhaps a little too charitable about the secretary general and his leadership," Lagon said.

The committee led by former U.S. Federal Reserve Chairman Paul Volcker faulted Annan's management of the oil-for-food program, which was set up to help ordinary Iraqis cope with crippling U.N. sanctions imposed on Saddam Hussein's regime after his 1990 invasion of Kuwait.

The report did clear Annan of interfering in the awarding of a $10 million-a-year U.N. contract to the Swiss employer of his son, Kojo Annan. But it also said Kofi Annan didn't sufficiently investigate possible conflicts of interest surrounding the contract.

"We aren't calling for the resignation of the secretary-general, however it is probably an exaggeration to suggest that the Volcker report exonerated the secretary-general," Lagon said.

Volcker's committee is investigating allegations of widespread fraud in the program, which ran from 1996-2003 and was meant to help ordinary Iraqis suffering under U.N. sanctions.

But Saddam's government had authority to decide who would have the right to purchase oil and it is believed to have extracted kickbacks ranging from an estimated $9 billion to $21 billion.

Scandal surrounding the oil-for-food program has become a problem that won't go away for Annan. Last week, U.S. Attorney David Kelley filed charges against three people allegedly connected to oil-for-food, including a South Korean businessman with ties to current and past U.N. officials such as former Secretary-General Boutros Boutros-Ghali, according to staff.

The Kelley complaint against the South Korean, Tongsun Park, cited two high-ranking U.N. officials - identified only as "official 1" and "official 2." It said Park met them in an apparent bid to influence the ultimate design of the oil-for-food program, and doesn't rule out the possibility that they may have been bribed.

According to the complaint, Park invested $1 million in a company run by the son of one of the officials. The company later folded

And on Wednesday, Annan's special envoy for North Korea, Maurice Strong, stepped aside after he acknowledged business ties with Park. The Volcker committee is investigating Strong's possible role in oil-for-food, while Strong denies he had anything to do with the program.

The Toronto Globe and Mail reported Thursday that Strong conceded it was his son, Frederick Strong, who ran the company in which Park invested money. That would make Maurice Strong "official 2."

The newspaper identified the company as Cordex Petroleums Inc.

On Thursday, U.S. Rep. Henry Hyde, an Illinois Republican, sent Volcker a letter demanding that he investigate the actions of the two unidentified U.N. officials.

Volcker and the leaders of his inquiry say their final report - expected in midsummer - will likely lead to dozens of criminal prosecutions by legal authorities in various countries for bribery, sanctions busting, money laundering and fraud.

Volcker recently underwent surgery to repair swelling in his abdominal aorta, his office said Thursday. He's in good health after the April 1 operation, according to a statement from his chief spokesman, Michael Holtzman. The committee's work wasn't delayed, his office said.

The operation is called an endovascular repair of an aneurism in the abdominal aorta. In layman's terms, Volcker's aorta had begun to swell where it passed through his abdomen. Doctors performed a minimally invasive procedure, inserting a stent to help blood flow.

If not addressed, such aneurisms can burst and cause massive internal bleeding.

TOPICS: Crime/Corruption; Foreign Affairs; Front Page News; Government; Politics/Elections; War on Terror
KEYWORDS: annan; cordex; exonerated; isnt; kofi; mauricestrong; oilforfood; un; uncorruption; unitedstates; volckerreport

1 posted on 04/21/2005 10:13:33 PM PDT by NormsRevenge
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To: backhoe


and the walls come tumbling down,,

This is gonna be a hot summer at the UN. ;-)

2 posted on 04/21/2005 10:16:10 PM PDT by NormsRevenge (Semper Fi ...... The War on Terrorism is the ultimate 'faith-based' initiative.)
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To: NormsRevenge

Kofi and Son are going to have to sell a hell of a lot of Hot Dogs to repay that scam!

3 posted on 04/21/2005 10:27:35 PM PDT by 26lemoncharlie (Defend the US CONSTITUTION - Locked and Loaded)
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Comment #4 Removed by Moderator

To: NormsRevenge

Cease Trade Orders (Failure To File)

Document No.: 1999/07/08

Subject: CORDEX PETROLEUMS INC. [Sec. 164]

Published Date: 07/16/1999
Effective Date: 07/08/1999


R.S.B.C. 1996, c. 418



Cease Trade Order Under Section 164

WHEREAS Cordex Petroleums Inc. (the “Issuer”) is a reporting issuer other than a mutual fund;

AND WHEREAS the Issuer has failed to file

(a) a comparative financial statement for its financial year ended December 31, 1998, as required under section 145 of the Securities Rules, B.C. Reg. 194/97 (the “Rules”),

(b) an interim financial statement for the three month period ended March 31, 1999, as required under section 144(1) of the Rules,

(the “Required Records”);

NOW THEREFORE it is ordered under section 164(1) of the Securities Act, R.S.B.C. 1996, c. 418, that all trading in the securities of the Issuer cease until the Issuer files the Required Records.

DATED at Vancouver, British Columbia, on July 8, 1999.

Andrew S. Richardson, C.A.
Manager, Statutory Filings

5 posted on 04/22/2005 12:30:56 AM PDT by kcvl
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To: NormsRevenge

CORDEX PETROLEUMS: No Agreement With Bankers Trust

According to the Canada Newswire on March 3, 1999,
Cordex Petroleums Inc. (TSE-CZX.A) has not been
able to reach a mutually acceptable arrangement with
Bankers Trust of New York with regard to the disbursement
of approximately US $13,600,000 in net proceeds from the
sale of the company's oil and gas assets in Chile and
Argentina to Genera SA., which closed on December 7, 1998.
An additional US $1,100,000 was withheld by the purchaser
at the time of the closing. The company has requested a
written accounting from Bankers Trust of New York with
regard to its claims which relate to various cash advances
of approximately US $11,000,000, not including interest,
dividends, "lump sum" or profit claims.

The claims of Bankers Trust of New York include advances by
a third party. In addition, Cordex Petroleums Inc. has
identified approximately US $2,600,000 in claims by
creditors. In the absence of an acceptable arrangement,
Cordex Petroleums Inc. applied on March 05, 1999 for court
protection and related legal remedies under Part III of
the Bankruptcy and Insolvency Act (Canada) and Chapter 11
of the United States Bankruptcy Code to protect its
creditors and preserve value for its shareholders. Cordex
Petroleums Inc. intends to continue negotiations to
resolve all outstanding issues.

6 posted on 04/22/2005 12:33:51 AM PDT by kcvl
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To: NormsRevenge

On May 24, 2002, the Company was notified of a suit filed by Bankers Trust
International Corporation (Delaware) Inc., as assignee of the trustee in
the bankruptcy of Cordex Petroleums Inc., a company organized under the
laws of Canada. Bankers Trust International Corporation (Delaware) Inc.
sued us for an amount equal to US$8.7 million plus interest and legal
fees, on the grounds of alleged collusion between us and the other
defendant, Mr. Ralph Wilkerson, breach contracts, incitement to breach
contracts, and fraud and incitement to infringe the fiduciary duties
towards Cordex Petroleums Inc. The suit corresponds to case N0101-05135 of
the Superior Court of Alberta, Judicial District of Calgary, Canada. On
July 19, 2002 we submitted a motion to dismiss the suit based on lack of
jurisdiction of the Canadian courts of law. A hearing was set for February
6, 2003 but was later suspended due to the plaintiff's delay in the
presentation of an affidavit supporting its claim. In March 2003, the
judge decided to accept the plaintiff's affidavit solely for the purpose
of amending the plaintiff's claim, and on April 14, 2003, the plaintiff
appealed this decision. A hearing date has not been scheduled. Although no
assurance can be given, we do not expect the outcome of this litigation to
have a materially adverse effect on our financial condition or results of

7 posted on 04/22/2005 12:36:40 AM PDT by kcvl
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To: NormsRevenge

Paul Martin has been a shareholder in at least two of Strong's companies, including the now-defunct Cordex Petroleums, formerly known as Baca Resources.

8 posted on 04/22/2005 12:40:08 AM PDT by kcvl
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To: NormsRevenge

Has anyone noticed the type and quality of suits that Paul Volcker has been wearing lately. The suits have improved since the first pictures and interviews started. I wonder how many new suits he has bought since he started his investigation?

9 posted on 04/22/2005 9:07:54 AM PDT by AIC
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To: NormsRevenge

Hey, Coffee Anus said he had been exonerated, isn't that enough?

10 posted on 04/22/2005 9:39:56 AM PDT by CPOSharky (You are born cold, wet, and hungry. Things get worse, then you die.)
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