Saddam's loot hidden under code name "Satan"

Herald Sun ^ | April 14, 2003 | Herald Sun

[FairOpinion]

A RETIRED banker living in Switzerland spent 10 years helping Iraqi President Saddam Hussein hide millions of dollars via a bank account under the name of Satan, Britain's Sunday Times has reported.

Elio Borradori, 75, funnelled millions of dollars in "commissions" and "consultancy fees" into companies controlled by Saddam's appointees, operating through Panama, the Bahamas and Switzerland, according to the report. US officials estimate Saddam channelled between $10 billion and $18 billion into accounts around the world, which must now be tracked down.

The British government today estimated Saddam's riches could total as much as $33 billion.

One of Saddam's relatives, Saad al-Mahdi, who controlled the "Satan" account with the Banca del Gottardo in the Bahamas, was beheaded by the Iraqi leader, possibly because he was skimming cash from the account, the report said, labelling him "something of a playboy".

The newspaper also said it had uncovered documents relating to export deals with Iraq made by two French arms companies, Dassault and Thomson-CSF.

"Many of the documents relate to the 1980s, others suggest activity in the mid-1990s," said the paper.

The companies in question deny exporting banned goods to Iraq under UN sanctions in the 1990s.

Borradori admitted working for Saddam, saying: "Is it worse to work as a trustee of Saddam Hussein than to work for a mafia godfather or a drug trader? If the answer is yes, everyone in Switzerland should destroy their passports."

According to the paper, the former banker cannot remember details of his work for Saddam, whom he described as "a bloodthirsty, crazy man", having met him on several occasions.

Gianluca Boscaro, a Swiss lawyer hired by relatives of the beheaded al-Mahdi to pursue their claim to some of the cash, had managed to demonstrate how Saddam had siphoned off a fortune and hidden it around the world, according to the paper.

But, in August last year, Boscaro died when his paraglider plummeted to the ground.

"Officials who examined the canopy noticed cords were damaged," the paper said.

[FairOpinion]

I can certainly believe that some of this story is true, that Saddam hid billions in Swiss bank accounts and elsewhere, but I have a hard time believing the "Satan" code name, since he has been calling the US "The Big Satan".

Anyway, for what it's worth.

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[patriot5186]

His PIN was also 666.

[dighton]

All the money in the world, and such wretched taste in art.

[Fred Mertz]

More disinfo.

[green team 1999]

i hope the us govmt. can find the money and use it to help the poor people in iraq.

[Ruth A.]

This seems more like the amount I figured Saddam had tucked away. How convenient this man forgets details. I hope someone is checking for his hidden assets as well. Hope all this money is found quicky.

[Husker24]

Is that pic for real?

[dighton]

Is that pic for real?

Yes.

[holyscroller]

33 Billion is just his petty cash fund. He's got bazillions more than that after 30 years in office. FIND IT AND IMPOUND IT! (Otherwise the Swiss Banks get to keep it all.)

[dogbyte12]

Well, if we get $20 billion of Saddam's money anyways... I think there are some Iraqi people who might enjoy it.

That is pretty much 5 years salary now, per person in Iraq if ya just divvied it up.

[NotJustAnotherPrettyFace]

The newspaper also said it had uncovered documents relating to export deals with Iraq made by two French arms companies, Dassault and Thomson-CSF.

Of course!!!!!!!!

[opinionator]

[bruinbirdman]

Iraq's minister of information went to Saddam Hussein's 10 doubles and said, "I have good news and bad news. The good news is Saddam is still alive." Ten sighs of relief as they all still were employed. "The bad news: Saddam lost a leg."
— Submitted by Donald Clark

[Sledgehammer]

chaque un a son gout

Actually I be disappointed if this goon had any better taste....it would be out of character for him.

[aruanan]

Borradori admitted working for Saddam, saying: "Is it worse to work as a trustee of Saddam Hussein than to work for a mafia godfather or a drug trader? If the answer is yes, everyone in Switzerland should destroy their passports."

He should have asked, "Is it as bad to work as a trustee of Saddam Hussein as it is to work for a mafia godfather or a drug trader? If the answer is yes, all those in Switzerland who do so should destroy their passports."

[Centurion2000]

That acutally looks like a Boris Vallejo print. Not bad ... for a Conan book cover.

[Thinkin' Gal]

Saddam's loot hidden under code name "Satan"

You'd think he would have had time to create an home page by now. ;-)

[GraniteStateConservative]

It's not as weird as discovering that Aziz owned a copy of Josie and the Pussycats.

[kever]

Code name "Satan".....yep..ummmhummm...right....that's a good one