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Article: Three case studies of alleged corruption in the U.N. oil-for-food program
- Article from:
- AP Worldstream
- Article date:
- October 28, 2005
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AP Worldstream
10-28-2005
Dateline: UNITED NATIONS
The Independent Inquiry Committee issued a 623-page final report Thursday on massive corruption in the U.N. $64 billion (euro52.76 billion) Iraqi oil-for-food program. Below are closer looks at three companies involved in the scandal, one involving the alleged payment of oil surcharges and the other two alleging kickbacks on humanitarian contracts.
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The Taurus Group, an oil trading consortium based in Europe and the Caribbean, financed the purchase of at least 256 million barrels of oil sold under the oil-for-food program _ but never under its own name.
According to the report, it purchased much of its oil from Russian companies, used the ...