Zombie
15th May 2003, 19:23
Naharnet.com
Beirut, 15 may 2003
Lebanon's central bank has 'located and secured' $495 million in Iraqi funds of ousted president Saddam Hussein's regime and the Beirut government has expressed readiness to return the money to help the reconstruction drive in the wake of the Anglo-American invasion.
The revelation of the assets seizure in Beirut was made by a U.S. treasury official before the American Congress in Washington Wednesday evening. It was highlighted by An Nahar Thursday.
David Aufhauser, general counsel in the U.S. Treasury Department, said Lebanon disclosed the find to the United States on Tuesday, calling it a sign of the progress being made in the worldwide search for Saddam's wealth.
The assets in Lebanon apparently came from Iraq's Al Rafidein central bank and other sources which Aufhauser did not spell out in his testimony before the House Financial Services oversight subcommittee.
The Bush administration has contended that all recovered Iraqi assets would be used in relief works for the people of Iraq and for rebuilding purposes in that Arab country.
Aufhauser said it was hard to pin down how much riches Saddam amassed before the downfall of his regime. "It's wild-eyed guesstimating," he said. Estimates run from $2 billion to $40 billion.
The General Accounting Office, the investigating arm of Congress, has conservatively estimated that Saddam skimmed $6.6 billion in illegal revenues from oil smuggling and kickbacks connected to the U.N. oil-for-food program.
Source (http://www.naharnet.com/domino/tn/NewsDesk.nsf/getstory?openform&B17C1A523ABEA0B442256D27002E5C57)
Shitload of crap if you ask me.
.A.
Beirut, 15 may 2003
Lebanon's central bank has 'located and secured' $495 million in Iraqi funds of ousted president Saddam Hussein's regime and the Beirut government has expressed readiness to return the money to help the reconstruction drive in the wake of the Anglo-American invasion.
The revelation of the assets seizure in Beirut was made by a U.S. treasury official before the American Congress in Washington Wednesday evening. It was highlighted by An Nahar Thursday.
David Aufhauser, general counsel in the U.S. Treasury Department, said Lebanon disclosed the find to the United States on Tuesday, calling it a sign of the progress being made in the worldwide search for Saddam's wealth.
The assets in Lebanon apparently came from Iraq's Al Rafidein central bank and other sources which Aufhauser did not spell out in his testimony before the House Financial Services oversight subcommittee.
The Bush administration has contended that all recovered Iraqi assets would be used in relief works for the people of Iraq and for rebuilding purposes in that Arab country.
Aufhauser said it was hard to pin down how much riches Saddam amassed before the downfall of his regime. "It's wild-eyed guesstimating," he said. Estimates run from $2 billion to $40 billion.
The General Accounting Office, the investigating arm of Congress, has conservatively estimated that Saddam skimmed $6.6 billion in illegal revenues from oil smuggling and kickbacks connected to the U.N. oil-for-food program.
Source (http://www.naharnet.com/domino/tn/NewsDesk.nsf/getstory?openform&B17C1A523ABEA0B442256D27002E5C57)
Shitload of crap if you ask me.
.A.