Vitol Pleads Guilty In Oil-for-Food Case
A Switzerland-based oil trading company has pleaded guilty to paying $13 million in kickbacks to the Iraqi government in violation of the U.N. oil-for-food program's rules, the Manhattan district attorney, Robert Morgenthau, announced yesterday.
Vitol S.A. allowed the kickbacks to continue between June 2001 and September 2002 but did not report them to the United Nations, according to a release from Mr. Morgenthau's office.
The Iraqi government had told Vitol that it was required to pay the surcharges in order to conduct business, and as part of its plea, Vitol now will be ordered to pay $13 million in restitution to the Iraqi people. The grand larceny charge for Vitol S.A. is the latest in the city's effort at cracking down on companies that accepted the bribes and kickbacks under the U.N. program.
