Marc Rich Holding Refutes UN Oil Scandal Allegations

IWON ^ | 12/15/04 | Katharina Bart

[Libloather]

Marc Rich Holding Refutes UN Oil Scandal Allegations
Wednesday December 15, 1:54 PM EST

ZUG, Switzerland -(Dow Jones)- Former American fugitive Marc Rich refuted media allegations Wednesday that his holding company was involved in illegal transactions as part of the U.N.'s Oil for Food program.

In a brief press statement, Marc Rich Holding said the allegations that Rich made illegal payments to Iraq in order to secure lucrative oil contracts are groundless. A spokesman declined to comment on whether a U.S. criminal investigation has been opened into the matter.

The allegations were first reported by ABC News in early December. Rich's holding company said it has asked to see ABC's documental evidence but that ABC has yet to provide it.

ABC also reported that several American oil companies, including ChevronTexaco (CVX) and ExxonMobil (XOM) are also under investigation.

-By Katharina Bart

[Peach]

And that has zero credibility. Absolutely zero.

[dirtboy]

In a brief press statement, Marc Rich Holding said the allegations that Rich made illegal payments to Iraq in order to secure lucrative oil contracts are groundless.

Pardon me, speak up, I can't hear you.

[proxy_user]

That's a refutation? Just saying you didn't do it?

[eureka!]

"In a brief press statement, Marc Rich Holding said the allegations that Rich made illegal payments to Iraq in order to secure lucrative oil contracts are groundless."

They are groundless. The payments weren't made to Iraq, they were made to Saddam's middle men for later transfer to Saddam...

[Ginifer]

Marc Rich - lie, lie, and if that fails - deny.

[dighton]

That's a refutation? Just saying you didn't do it?

Increasingly common, but indefensible.

Refute is not the same beast as deny.

[nothingnew]

Former American fugitive Marc Rich

Former what? American? Fugitive? Former Marc Rich?....I thought he was still wanted here.

FMCDH(BITS)

[nothingnew]

Refute is not the same beast as deny.

Ahhh...the power of words is sublime. Do you know what the "meaning of is is?"

FMCDH(BITS)

[gov_bean_ counter]

Ahhh...the power of words is sublime. Do you know what the "meaning of is is?"

Here is another one...

Ho, Ho, Ho!!!

Seasonal greeting or a string of nasty insults?

We have already lost the language.

[NoControllingLegalAuthority]

Yeah. Why does an honest, forthright businessman need a presidential pardon?

[general_re]

The modern definition of the word "spin" remains blessfully unaffected, however.

[aculeus]

Former what? American? Fugitive? Former Marc Rich?....I thought he was still wanted here.

I believe NY and perhaps some other states want him. Clinton solved his Fed problem.

[aculeus]

All Rich had to do was to arrange to have a Swiss bank finance some nominee who actually dealt with Iraq and then buy the oil from the nominee.

As simple as pie and as "legal" as anything else Rich ever did.

[Reactionary]

"Refute is not the same beast as deny."

Don't tell that to the lapdog who wrote this article.

[ApplegateRanch]

Do you know what the "meaning of is is?"

That depends on what you mean by "meaning".