Show this to your anti-bush friends guys

[Bvamp 604]

Tuesday, November 16, 2004

NEW YORK - Saddam Hussein diverted money from the U.N. oil-for-food program to pay millions of dollars to families of Palestinian suicide bombers who carried out attacks on Israel, say congressional investigators who uncovered evidence of the money trail.

 

The former Iraqi president tapped secret bank accounts in Jordan - where he collected bribes from foreign companies and individuals doing illicit business under the humanitarian program - to reward the families up to $25,000 each, investigators told The Associated Press.

 

Documents prepared for a Wednesday hearing by the House International Relations Committee outline the new findings about how Saddam funneled money to the Palestinian families.

 

Investigators examining the oil-for-food program felt it was "important for us to determine whether the profits from his corruption were put toward terrorist purposes," committee chairman Henry Hyde, R-Ill., said of Saddam's well-known financial support of suicide bombers.

 

Wednesday's hearing, however, will focus on a French bank that handled most of the money for the program. An audit by a U.S. regulatory agency of a small sample of transactions out of the $60 billion U.N. escrow account managed by BNP-Paribas has raised serious questions concerning the bank's compliance with U.S. money laundering laws, the investigators said.

 

"There are indications that the bank may have been noncompliant in administering the oil-for-food program," Hyde said in his statement to AP. "If, true these possible banking lapses may have facilitated Saddam Hussein's manipulation and corruption of the program."

 

While acknowledging that U.S. regulators have raised routine issues with BNP on compliance with banking laws, a lawyer for BNP said Hyde's statement was unfair to the bank.

 

"No departure from any standard caused or contributed in any way to the abuse at the oil-for-food program," the bank's lead council Robert S. Bennett said. "There are simply no connections."

 

The humanitarian program that let Iraq trade oil for goods was set up in 1996 to help Iraqis get food, medicine and other items that had been scarce under strict U.N. economic sanctions imposed after the Gulf War. But investigators say Saddam made more than $21.3 billion in illegal revenue under the program as well as by evading the sanctions for more than a decade.

 

Iraq had thousands of secret bank accounts throughout the world, including over 1,500 in Jordan. Money from kickbacks on oil-for-food deals, illegal oil payments from the Jordanian government and other illicit funds were paid into accounts held by a Jordanian branch of the Iraqi government owned Rafidain Bank, investigators said.

 

According to employees of the Iraqi Central Bank and the Rafidain Bank, the former Iraqi ambassador to Jordan, Sabah Yassen, personally withdrew money from the accounts to make payments ranging from $15,000 to $25,000 to the families of Palestinian suicide bombers, Hyde said.

 

Palestinians had perceived Saddam as one of their staunchest supporters. Palestinians have said before that Saddam gave payments of more than $35 million to families of Palestinians killed or wounded in the conflict with Israel that began in September 2000. During the four-year conflict, Palestinians have carried out 117 suicide bombings, killing 494 Israelis and others.

 

At Wednesday's hearing, Hyde's panel will question two BNP executives. The panel also plans to transfer documents for a possible investigation to the House Committee on Financial Services.

 

BNP held the sole escrow account through which all of the more than $60 billion of Iraqi oil revenues generated through the program flowed while the program was in place from 1996 to 2003.

 

BNP also wrote letters of credit for deals for the import of humanitarian goods which were approved by the United Nations and paid for out of the escrow account.

 

The investigators said that evidence from documents subpoenaed from BNP in July and received from U.S. regulatory agencies suggests that the French bank - which has New York offices - failed to comply with anti-money laundering laws passed under the U.S. Patriot Act in 2001.

 

"Evidence seems to indicate that in some cases, payments in the oil-for-food program were made by BNP at times with a lack of full proof of delivery for goods and other necessary documents contracted for in the oil-for-food program," Hyde said.

 

Investigators also said that they had evidence that BNP illegally allowed letters of credit, or payments for import deals to be transferred to third parties.

 

BNP denied the allegations.

 

"It must be understood that the bank did not have any responsibilities to do due diligence regarding third parties," Bennett said. "Our only client and customer here was the United Nations."

 

The U.N. Security Council had to approve all the deals under the oil-for-food program, Bennett said.

 

"This was an enhanced protection from the banks perspective," he said. "It was not our job to second guess the decisions of the Security Council."

 

 

 

 

this looks to me like a DEFINATE link to terror on saddam's part. he was seen on tv bragging about it in 2001 before we invaded. no link to terror THERE, huh kerry?

[Bigfoot Wallace 0]

Good article. We all knew the french were dirty.

[Bvamp 604]

yeh, the other point is, contrary to what the democrats were touting in thier campaign, and what the liberals screamed every day to me here, saddam was HEAVILY involved with terror and terrorists.

[Verson 0]

*sigh* I've been bringing that point up for a while now. Telling the libs that, in my own opinion, does very little because they hate George Bush and his "rich" Republican buddies. To them while Saddam has killed more people than Bin Laden since we have not caught Bin Laden all of a sudden Saddam is a Saint and Bush is evil because he removed Saddam and "took his eye of the ball". If I remember correctly we have for sure removed two terrorist training basses that once were in Iraq. Again, the libs have forgoten. I also assume its part of the current adminstrations faults for perhaps not linking more stuff in Iraq with terrorism, but then again I think the majority of the american people are not that dumb and see the evidence even if its not in the bright spotlight.

 

 

God bless our Troops, They are doing mighty fine work and we should all be proud.

[Coastie 0]

Thanks for the post BVamp. Amazing how some things make the news and others don't isn't it? I suppose the liberals will attempt to find a way to discredit this report too.

[Bvamp 604]

no, they dont even need to do that, Coastie. All they need to do is to not cover it.

[G O B 3,516]

Guys- Muoamar Kadaffy was doing the SAME tihing. He started the payments to palistenian 'suicide widows' and now he is our buddy? You guys need to learn some history. Saddam screwed cheny and rumsfeld during the NIXON administration.

This crap in iraq started out as a vendetta to settle old scores. That makes no difference,however. The war has been screwed up so badly by this administration that now we HAVE to win. They tried to do this on the cheap,with too few troups and too little equipment- the war machiene of saddam was left unguarded, and the borders were not sealed. Now every terrorist/jihad asshole that could has walked in and picked up the means to wage war against us that WE left lying there for the grabbing. NOW we HAVE to win this clusterfuck or it will grow so damned big that we will need to mobilize the entire country like WW2.

Because we half-assed the effort to start with we were seen as weak. These morons feed on weakness(or the perception of it). The ONLY way to stop this from snowballing the way that it has been doing is to apply OVERWHELMING force. And to keep it up untill everyone that wants to die for allah has had the oppurtunity to do so! (and we need to do it quickly-these people breed like flies!)

 

G O B