A New York man is the first to plead guilty in the US in the Oil-For-Food scandal. The Oil-For-Food program was a UN administered plan that allowed Iraq -- under Saddam Hussein -- to trade oil for food outside of UN sanctions. The program generated $67 billion for humanitarian needs -- but it also generated $1.7 billion in kickbacks to Saddam.
Among those taking part in the program were dozens of American companies and individuals. And among those, Samir A. Vincent.
The Justice Department says the New York businessman got the rights to 9 million barrels of oil and a stack of cash to lobby US and UN officials to weaken economic sanctions against Iraq. (Yahoo! News)
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