The IRS learned through its interviews that Iraq's State Oil Marketing Organization (SOMO) maintained accounts at the Commercial Bank of Syria (CBS) that received funds from the oil sales to Syria. Beginning in June 2000 and lasting until March 2003, Iraq and Syria set up a border trade protocol, which ultimately resulted in $3 billion worth of Iraqi oil being imported by Syria.
Hmm, so what's in it for Saddam Hussein?
IRS investigators have concluded that the money was funneled through these accounts. About 40 percent was paid in cash while the other 60 percent came in "goods" such as arms.
Ok, so Syrai gave them a bunch of guns and ammo. What else, you ask?
Funds in these accounts were used to purchase merchandise through Syrian suppliers, transferred in cash to Baghdad using a diplomatic courier, and used to pay the 10 percent kickback demanded by Iraq of all companies involved in the U.N. program, according to the House International Relations Committee.
I wonder what kind of "merchandise" Iraq bought from Syria. It also appears to me that Iraq and Syria kind of had an open border policy going on here. It's all pretty shady, and the Democrats have been suspiciously silent about all of this.
|Chief Phtoshop |
July 26, 2005 08:19 PM PDT
Don't worry, I'm sure it wasn't anything illegal. It's not like they tried to keep it secret or anything. Oh, wait.
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