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Oil-Food Report: $1.8bn Diverted to Hussein Regime (Marc Rich implicated)
CNN ^
| Oct. 27, 2005
| CNN
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 ...
TOPICS: Crime/Corruption; Foreign Affairs; Front Page News; News/Current Events; War on Terror
KEYWORDS: 200102; 200510; asprinfactorybomber; billclinton; bnp; clinton; clintonsbuddy; eotc; iraq; marcrich; oilfoodreport; oilforfood; pardon; pardongate; paulvolcker; saddam; sleazeball; volcker; volckerreport
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To: FairOpinion
I allways thought it would lead back to Bubba...
21
posted on
10/27/2005 8:13:14 PM PDT
by
Crim
(I may be a Mr "know it all"....but I'm also a Mr "forgot most of it"...)
To: FairOpinion
not that my tinfoil hat is wrapped too tight, but is there a tining thing between this and the Valerie Plame railroading indictments?
22
posted on
10/27/2005 8:35:21 PM PDT
by
castlebrew
(true gun control is hitting where you're aiming!)
To: BARLF
23
posted on
10/27/2005 8:46:35 PM PDT
by
BARLF
To: FairOpinion
24
posted on
10/27/2005 8:49:18 PM PDT
by
PGalt
To: FairOpinion
So Saddam gives Marc Rich money, Marc Rich gives the DNC and Clintons money...which mean the DNC and Clintons are funded by Saddam?
25
posted on
10/27/2005 8:58:58 PM PDT
by
highlander_UW
(I don't know what my future holds, but I know Who holds my future)
To: scott7278
I wouldn't be surprised if Clinton figures in there somewhere, beyond the pardon.Wouldn't be surprised, eh? If Tradesports would put up a contract on it I'd buy every one I could.
26
posted on
10/27/2005 9:15:38 PM PDT
by
the invisib1e hand
(I must be a little punk, because coffeebreak said so.)
To: FairOpinion
Here's a monkeywrench for y'all.
Lewis "Scooter" Libby was Marc Rich's attorney...
27
posted on
10/28/2005 6:09:37 AM PDT
by
adam_az
(It's the border, stupid!)
To: adam_az
"Lewis "Scooter" Libby was Marc Rich's attorney..."
Seriously????
28
posted on
10/28/2005 7:42:10 AM PDT
by
FairOpinion
(CA Props: Vote for Reform: YES on 73-78, NO on 79 & 80, NO on Y)
To: FairOpinion
Well now I know wht BNP had that shredding party in Jersey earlier this year.
29
posted on
10/28/2005 7:57:38 AM PDT
by
EQAndyBuzz
(Liberal Talking Point - Bush = Hitler ... Republican Talking Point - Let the Liberals Talk)
To: FairOpinion
30
posted on
11/01/2005 6:01:49 AM PST
by
Homer1
To: FairOpinion
31
posted on
11/01/2005 6:04:28 AM PST
by
Homer1
To: FairOpinion
Did some of Rich's money from the starving Iraqi children fund the double-wide on stilts there on the Arkansas River in LR?
32
posted on
11/01/2005 6:13:29 AM PST
by
steveyp
To: FairOpinion
I wonder how much money Clinton got from oil for food? Clinton, funneled thru Marc Rich's former wife, received a $450,000 contribution to the Clinton library in Little Rock.
33
posted on
11/01/2005 6:21:54 AM PST
by
BluH2o
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