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U.N Reports : 2,000 Firms Gave Iraq Illicit Funds (moved from ATSNN)

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posted on Oct, 27 2005 @ 01:42 AM
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Long before Iraq was invaded by the United States-led coalition, an approximate of 2,000 firms worldwide illegally gave Saddam Hussein's Regime funds and bribes just for their own benefits. It seemed that they did this under the cover of the United Nations' Oil-For-Food Program. Now it seems more and more secrets of the fallen Saddam Regime and foreign investors are coming into light.
 



news.yahoo .com
UNITED NATIONS - More than 2,000 companies paid about $1.8 billion in illicit kickbacks and surcharges to Saddam Hussein's government through extensive manipulation of the U.N. oil-for-food program in Iraq, according to key findings of a U.N.-backed investigation obtained by The Associated Press.

The report — to be released in full Thursday by the committee probing claims of wrongdoing in the $64 billion program — indicates that about half the 4,500 companies doing business with Iraq paid illegal surcharges on oil purchases or kickbacks on contracts to supply humanitarian goods.

The investigators reported that companies and individuals from 66 countries paid illegal kickbacks through a variety of devices while those paying illegal oil surcharges came from, or were registered in, 40 countries. The names will be included in Thursday's report but were not in the key findings obtained Wednesday by the AP.




Please visit the link provided for the complete story.


Nowadays it seems more scandal is shrouding the reliabilty of the United Nations as an organisation that presents truth and justice to all mankind. The last time it was the sex abuse scandal by some U.N Peacekeepers and now it is illegal investing under the arms of the United Nations. I really don't see anything getting better for the United Nations because their flaws is becoming much more clearer to the international community's eyes.

Moreover, I hope they get to nab the firms that are trying to illegally purchase the oil for their own benefit. Honestly, I think such firms should be punish for using a good name to do bad deeds. Until today, I still pity the United Nations' effort to help but in vain.

Related News Links:
hosted.ap.org




 
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