Oscar Wyatt
Jr., the Texas oil tycoon/billionaire, pleaded guilty Oct. 1 to charges that he paid millions of dollars to Iraqi officials to illegally win contracts connected to the U.N. oil-for-food program, reported the Associated Press.
Wyatt told the judge in federal court in Manhattan that he agreed in December 2001 to advise others to pay a surcharge into an Iraqi account in Jordan in violation of a rule calling for no direct payments to Iraq.
The plea deal calls for Wyatt, 83, to be sentenced to 18 to 24 months in prison, unless the judge decides otherwise. He also has agreed to forfeit $11 million.
As Saddam Hussein (together most of with his associates) has already been ousted and hanged, to my very own viewpoint, it's pointless to punish an octogenarian such as Oscar Wyatt who once had the 'illegal' oil business with the pre-occupied Iraq, anyway, the money that earned from such business could somewhat have once benefited to the Iraqi people.
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Source: Wyatt Pleads Guilty in Oil-For-Food Case @ AP