Monday, December 13, 2004

Here's a shocker

So it seems that the Clinton legacy will never die. On his last day in office, Clinton pardoned Marc Rich. It turns out that the pardon could be even shadier than it initially seemed. Investigators are hot on the trail of his alleged role in the scandalous UN oil-for-food program.

Investigators say they have received information that Rich and Ben Pollner, a New York-based oil trader who heads Taurus Oil, set up a series of companies in Liechtenstein and other countries that they used to put together deals between Saddam and his international supporters in the controversial oil-voucher scheme — which the dictator designed to win international support against U.S. sanctions at the United Nations.

Under the scam, hundreds of international political and financial figures from France, Russia and other countries were awarded middleman vouchers allowing them to purchase set quantities of Iraqi oil at discount rates.

These so-called "non-end users" could then resell the oil on the open market and make profits of up to 50 cents a barrel. Benon Sevan, who headed the U.N. oil-for-food program, is among those listed in Iraqi Oil Ministry documents as having been a recipient of the vouchers.


And more...

Investigators are also looking at Rich's fingerprints on several oil deals involving Russian political figures and businessmen. Rich has longstanding ties in Russia and has done several questionable commodities deals with Russian mafia figures and oligarchs, who seized control of vast Russian financial and natural resources after the collapse of the Soviet Union, sources said.


Rich aside, this scandal at the UN is massive and every American (and for that matter everyone across the globe) should be abhored at the corruption. Regardless of whether the war in Iraq was the right thing to do or not, can't everyone agree that the level of corruption at the UN is repugnant and shouldn't be tolerated? Right... So long as evil exists, there will be a world--with Europe leading the way--eager to embrace it.

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