IRAQ WILL SUE OIL-FOR-FOOD SUSPECTS

Extracts from BBC stories below:

"The Iraqi government has said it will file lawsuits in US courts against firms and people suspected of illegally profiting from a UN programme.

The UN oil-for-food programme allowed Saddam Hussein's government to sell oil in order to buy humanitarian supplies during UN sanctions from 1996-2003.

An inquiry found that 2,200 firms paid $1.8bn in bribes to Iraqi officials.

A UN-commissioned inquiry headed by former US Federal Reserve Chairman Paul Volcker found that 2,200 companies in 66 countries had paid kickbacks to Iraqi officials to win supply contracts under the $60bn (£30bn) programme.

The Iraqi statement did not name the firms or people the legal action will target nor when and in which courts the suits will be filed.”

See full story from BBC HERE

Malaysian companies were named in the UN Report

“Iraq scandal taints 2,000 firms

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.

The single largest bribe came from a Malaysian trading company, Mastek, which paid Iraq $10bn over a prolonged period, the report found. "

See full story from BBC HERE

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