Posted on 09/10/2007 2:56:32 PM PDT by rfp1234
Prosecutors promised on Monday to prove that Texas oilman Oscar Wyatt paid millions of dollars in kickbacks to Saddam Hussein's government, earning him a privileged position in Iraq.
Assistant U.S. Attorney Stephen Miller told jurors at opening arguments of Wyatt's trial that prosecutors would present photos, audio tapes, bank records, U.N. records and Iraqi government records proving Wyatt paid kickbacks to win Iraqi oil contracts .
"Oscar Wyatt's years of assistance to the Hussein regime earned him a privileged status in Iraq," Miller said.
Wyatt, an 83-year-old self-made oil tycoon, faces five counts in Manhattan federal court including engaging in prohibited financial transactions with Iraq, deals alleged to have violated the U.N. oil-for-food program designed to provide humanitarian assistance to Iraq while it was under international sanctions.
The oilman, known for his unfettered opinions and flamboyant style, faces a maximum of 74 years in prison if convicted of all charges. After getting his start selling oil drill bits out of the trunk of his car, he founded the Coastal Corp. that was sold to El Paso Corporation for $17 billion in stock in 2000 and 2001.
Defense lawyer Gerald Shargel argued the federal case against Wyatt was "entwined" with his opposition to both U.S.-led wars against Iraq.
(Excerpt) Read more at news.yahoo.com ...
bump for publicity
In 1984, Oscar S. Wyatt Jr., the legendary oilman and corporate raider, made a $1.3 billion hostile bid for Houston Natural Gas Corp. Wyatt was building a network of natural-gas pipelines that would snake around the country. At the time Houston Natural was one of the biggest and most profitable pipeline operators anywhere, and Wyatt wanted it.Houston Natural had other ideas. To rebuff the raider's play, it offered to buy all the stock in Wyatt's own company, Coastal Corp. Wyatt was furious. A legal battle ensued, and Wyatt eventually walked away--but only after he had forced Houston Natural to buy back his stake at a $14.6 million after-tax profit. Later Houston Natural's CEO, Kenneth Lay (yes, that Kenneth Lay--the company changed its name to Enron in 1985), described Wyatt as "incredibly tenacious." As Lay put it, "Once Wyatt decides he wants to accomplish something, he continues to pursue it until he gets what he wants or runs into a brick wall."
Now wait just a dang minute!! I thought all American oilmen were Republicans! After all, aren’t they all big buddies with Dubya?
Oskie-Wow-Wow is an anomaly in many, many ways.
LLS
Ping.
dang who would have thunk it?
Thanks, Great info...
I thought every oilman was a rich, evil Republican?
Guess the media fooled me again?
I thought every oilman was a rich, evil Republican?
Guess the media fooled me again?
bump
Democrat culture of corruption BUMP!
At least in public? Nothing.
I forgot to add:
If this story involved a Republican, would his affiliation appear in the first paragraph?
If it involved corruption in a different administration, a more convenient administration for Democrats to target, would this story be front-page news across the land?
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