Skip to comments.Oil-Food Report: $1.8bn Diverted to Hussein Regime (Marc Rich implicated)
Posted on 10/27/2005 7:02:32 PM PDT by FairOpinion
Former Iraqi President Saddam Hussein manipulated the United Nations oil-for-food program so that his regime received $1.8 billion in illicit payments, a U.N.-backed independent report said Thursday.
The investigation, led by former Federal Reserve Chairman Paul Volcker, said kickbacks came from some 66 member states and illicit surcharges came from 40 member states.
The report also said Marc Rich & Co. financed 4 million barrels of oil under a 9.5-million-barrel contract awarded to the European Oil and Trading Co. (EOTC), a French-based shell company.
"Surcharges were imposed on the oil," the report said, and "Marc Rich & Co. directed BNP Paris not to disclose its identity to BNP NY in connection with its financing of the U.N. contract."
It added, "According to an individual familiar with the companies, EOTC and Marc Rich & Co. agreed that the premium paid to EOTC would cover a commission and a surcharge.
"The premium paid by Marc Rich & Co. of 30-40 cents per barrel was sufficiently high to cover both."
(Excerpt) Read more at ksbitv.com ...
"Former American fugitive Marc Rich was a middleman for several of Iraq's suspect oil deals in February 2001, just one month after his pardon from President Clinton, according to oil industry shipping records obtained by ABC News.
I wouldn't be surprised if Clinton figures in there somewhere, beyond the pardon.
Heck .. only 9.5 million barrels? Is that all?
Galloway had 18 or 19 ,, What a bunch of scumbags, hanging is too good for them.
The 9.5 million is what we know about.
Is there a legal reason that the Marc Rich pardon can't be investigated?
"I wouldn't be surprised if Clinton figures in there somewhere, beyond the pardon."
Maybe Marc Rich fronted for Clinton and THAT's why Clinton pardoned him, to keep him from spilling the beans.
I wonder how much money Clinton got from oil for food?
It falls under the IBC rule -- It's Bill Clinton.
This will get some play tonight in the media...at least until the 13 month indictment 24/7 circus starts tomorrow and relinquishes with the lynching of a conservative(s) somewhere.
Priorities, priorities....the media sure have them don't they. Marc should be strung up by his sweaty....
The most tragic part of all this is the fact that the left will sit on their hands and banners that say "No Blood For Oil!" and ignore the people who actually were putting it into practice.
This is why I hate and despise the left.
Let's start by investigating Marc Rich's participation in the oil for food fraud and see where that may lead us.
"Volcker said the commission members would make themselves and their information available to any law enforcement or regulatory agencies that might want to pursue particular cases, but would disband in about a month."
So let's appoint a special prosecutor to look into the Marc Rich pardon and whether or not his wife, Denise Rich was involved, many suspect she was one of Bubba's bimbos.
No worries for Marc Rich...President Hillary will pardon him...again! ;-)
That would probably happen if he was a Republican. But it won't...
Clinton got dirty money, at the very least and I bet he knew all about it, and some.
"The news comes as a federal grand jury in New York continues to probe the Clinton pardon. Rich's ex-wife, Denise, also gave more than $400,000 to the Clinton presidential library and prosecutors have continued to investigate if that was a payoff; Clinton and Denise Rich (search) both deny those allegations."
March 03, 2005
And whatevery came of THIS investigation????
I have wondered the same thing. He seems to be doing quite well for himself.
Maybe start by looking in to who is funding all the "speaking fees" he has been earning since he left Washington.
Could the fact be brought to light that Hillary Clinton's senate campaign was funded through dirty money that was gleaned from Oil for Food? Didn't Denise Rich contribute heavily to Hillary's campaign?
Clinton sure is leaving one hell of a legacy!