by emad » Sat Oct 22, 2005 10:53 am
Oil baron in scandal<br>From James Bone in New York<br> <br> <br> <br>A Texas oil baron who once helped to rescue hostages from Kuwait has become the latest businessman indicted in the UN Oil-for-Food scandal. <br><br>Oscar Wyatt, the founder and former chairman of Coastal Corp, was accused of paying millions of dollars in illegal kickbacks to Saddam Hussein’s Iraq. He was charged along with two Swiss executives, Catalina del Socorro Miguel Fuentes, and Mohammed Saidji, who operated two Cyprus-based oil-trading companies and a Swiss consulting firm. <br> <br>If convicted, the three each face up to 62 years in jail. The Government is also seeking forfeiture of $1 billion (£566 million) in assets. <br><br>My Wyatt appeared in court in Houston yesterday and was released on $2.5 million bail until a remand hearing next week. <br><br>“Wyatt, Miguel and Saidji obtained oil under the UN’s Oil-for-Food programme by paying millions of dollars in secret kickbacks,” prosecutors said.<br> <br> <br> <!--EZCODE AUTOLINK START--><a href="http://www.timesonline.co.uk/article/0,,11069-1837815,00.html">www.timesonline.co.uk/art...15,00.html</a><!--EZCODE AUTOLINK END--><br> <p></p><i></i>
