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turnea
The Independent Inquiry Committee (IIC) that is to investigate manipulation of the "Oil-for-Food" program in Iraq has finally come out with its final report although some suspectd it would be merely a political ploy, the investigators seems to be no respecters of nations when issuing their claims.
QUOTE
More than 2,000 firms linked to the UN oil-for-food programme in Iraq were involved in making illicit payments to the Iraqi government, a report says.
It found Saddam Hussein received $1.8bn (1bn) from firms including Daimler Chrysler and Volvo, and it also named individuals said to have benefited.[..]
Companies buying oil at cut prices would funnel extra money to Iraq through "surcharges" while those receiving money from Iraq for humanitarian goods and services would return a portion in "kickbacks", the report found.

Mr Volcker said the Iraqi government had taken advantage of divisions within the UN to "politicise" the programme.

Corruption "could not have been nearly so pervasive if there had been more disciplined management by the UN and its agencies", he said.

More than half of the 4,500 companies - from 60 countries - involved in the oil-for-food programme paid kickbacks or surcharges to the Iraqi government, Mr Volcker reported.[...]
Individuals named in the report include a former French UN ambassador, Jean-Bernard Merrimee, who has admitted receiving one oil allocation only.

Russian parliamentarian Vladimir Zhirinovsky and British MP George Galloway are also both named but have denied the allegations.
[...]
The investigation also accused Benon Sevan, the former head of the oil-for-food programme, of taking $147,000 in illegal payments. He denies any wrongdoing.


Iraq scandal taints 2,000 firms
Criminal proceeding are already planned in some countries involved.
QUOTE
THE controversial MP George Galloway and one of Scotland's leading companies were last night facing the threat of prosecution after they were named in a devastating United Nations report into the Iraq oil-for-food scandal.

The report identified Mr Galloway as a political beneficiary of the oil-for-food programme and concluded that thousands of pounds from companies involved in oil deals with Saddam Hussein's regime were paid into the Mariam Appeal which Mr Galloway chaired and which funded his anti-sanctions campaigning.

It accused the Glasgow-based engineering company Weir Group of paying $4.5 million in kickbacks to Saddam's regime in return for contracts, and of refusing to co-operate with the inquiry.

UN accuses Galloway and the Weir Group

The report is available in full on the committee's website

Are we to expect a wave of prosecutions around the world in light of this report?

Do you believe the individuals accused are largely guilty?

If so, what does that say about the state of the free market, that the majority of firms involved in the biggest humanitarian program in UN history were corrupt?

What political fallout do you expect from the report?
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j10pilot
QUOTE(turnea @ Oct 28 2005, 10:32 PM)
The Independent Inquiry Committee (IIC) that is to investigate manipulation of the "Oil-for-Food" program in Iraq has finally come out with its final report although some suspectd it would be merely a political ploy, the investigators seems to be no respecters of nations when issuing their claims.
QUOTE
More than 2,000 firms linked to the UN oil-for-food programme in Iraq were involved in making illicit payments to the Iraqi government, a report says.
It found Saddam Hussein received $1.8bn (1bn) from firms including Daimler Chrysler and Volvo, and it also named individuals said to have benefited.[..]
Companies buying oil at cut prices would funnel extra money to Iraq through "surcharges" while those receiving money from Iraq for humanitarian goods and services would return a portion in "kickbacks", the report found.

Mr Volcker said the Iraqi government had taken advantage of divisions within the UN to "politicise" the programme.

Corruption "could not have been nearly so pervasive if there had been more disciplined management by the UN and its agencies", he said.

More than half of the 4,500 companies - from 60 countries - involved in the oil-for-food programme paid kickbacks or surcharges to the Iraqi government, Mr Volcker reported.[...]
Individuals named in the report include a former French UN ambassador, Jean-Bernard Merrimee, who has admitted receiving one oil allocation only.

Russian parliamentarian Vladimir Zhirinovsky and British MP George Galloway are also both named but have denied the allegations.
[...]
The investigation also accused Benon Sevan, the former head of the oil-for-food programme, of taking $147,000 in illegal payments. He denies any wrongdoing.


Iraq scandal taints 2,000 firms
Criminal proceeding are already planned in some countries involved.
QUOTE
THE controversial MP George Galloway and one of Scotland's leading companies were last night facing the threat of prosecution after they were named in a devastating United Nations report into the Iraq oil-for-food scandal.

The report identified Mr Galloway as a political beneficiary of the oil-for-food programme and concluded that thousands of pounds from companies involved in oil deals with Saddam Hussein's regime were paid into the Mariam Appeal which Mr Galloway chaired and which funded his anti-sanctions campaigning.

It accused the Glasgow-based engineering company Weir Group of paying $4.5 million in kickbacks to Saddam's regime in return for contracts, and of refusing to co-operate with the inquiry.

UN accuses Galloway and the Weir Group

The report is available in full on the committee's website

Are we to expect a wave of prosecutions around the world in light of this report?

Do you believe the individuals accused are largely guilty?

If so, what does that say about the state of the free market, that the majority of firms involved in the biggest humanitarian program in UN history were corrupt?

What political fallout do you expect from the report?

*



Geez, nobody's interested in this any more? Guess I'll take a crack at it.


Are we to expect a wave of prosecutions around the world in light of this report?


Probably not, kick-backs / commissions are quite normal in many parts of the world, especially for private firms. And if the payees are Iraqi, i.e. the kick-bakcs are paid to Iraqi officials, not Russian or British or French officials, then the Iraqi government would have the power to investigate whether the payer, i.e. the companies and individuals doing business with Iraq, benefited illegally from the deal. Whereas unless the payer's country has a law against paying kick-backs to foreign officials, the payer would walk.


Do you believe the individuals accused are largely guilty?


Innocent until proven guilty in a court of law? smile.gif


If so, what does that say about the state of the free market, that the majority of firms involved in the biggest humanitarian program in UN history were corrupt?

What political fallout do you expect from the report?


Not much. Detractors of the UN would say "look, it's a worthless organization." Supporters of the UN, like myself, would say "hey, had the UN been given more power and done this in a different way, i.e. the UN -- not individual companies -- purchases Iraqi oil in bulk, then sells it to bidders through open bids. The direct interaction between these companies and the Iraqi government would be eliminated and this scandal would not have happened."
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