Oil Man Sentenced in Oil-for-Food Scam
Posted on: Tuesday, 27 November 2007, 18:00 CST
Texas oil man Oscar Wyatt was sentenced Tuesday to a year in prison for paying kickbacks to Saddam Hussein to participate in an oil-for-food program in Iraq.
Wyatt pleaded guilty last month to one count of conspiracy to commit wire fraud. He was sentenced in a federal court in New York for his role in a scheme involving kickbacks paid to the former Iraqi government to participate in the United Nations' oil-for-food humanitarian aid program, CNN reported.
In addition to jail time, Wyatt also must pay the government $11 million.
The oil-for-food program was designed to allow Iraq, heavily sanctioned at the time, to sell oil and use the proceeds for humanitarian purposes. But Saddam eventually charged kickbacks for the right to buy Iraqi oil. Evidence showed that Wyatt spoke to dictator about the program.
Wyatt is scheduled to report to a federal prison in Beaumont, Texas, by Jan. 9.
Source: United Press International
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