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US judge sentences corrupt oil man
Afghanistan News.Net
Sunday 9th March, 2008
Texas oil trader, David B. Chalmers Jr, has been sentenced to two years imprisonment in a New York court.
It has also been ordered that his two companies should pay $9 million in restitution for giving secret and illegal kickbacks to the former regime in Iraq.
The kickbacks were in exchange for buying Iraqi crude oil under the United Nations oil-for-food program.
The judge also sentenced Chalmers US and Bahamas based Bay Oil companies to three years probation.
Chalmers admitted to the charge of conspiracy to commit wire fraud, related to the payment of secret illegal surcharge payments to the former government of Iraq.
Under the UN oil-for-food program, the government of former leader Saddam Hussein was able to export crude oil but proceeds of the sale were supposed to be used to purchase food and medicine for the Iraqi people.
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