report on programme manipulation - Independent Inquiry Committee

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INDEPENDENT INQUIRY COMMITTEE INTO THE UNITED NATIONS OIL-FOR-FOOD PROGRAMME REPORT ON PROGRAMME MANIPULATION CHAPTER TWO OIL TRANSACTIONS AND ILLICIT PAYMENTS Normally, when an individual or company deposited a surcharge payment in one of the SOMO accounts, a bank advice was generated that recorded the name of the depositor and amount of the deposit. These bank advices, as well as monthly bank statements, were sent regularly to the SOMO Accounting Department, and the relevant payment information was recorded in its electronic database. The Committee has reviewed bank records supporting the payment information recorded in the SOMO database. 22 Once the surcharge amounts were deposited or transferred to these accounts (also referred to as bridge accounts), the funds were then transferred to accounts of the Central Bank of Iraq (“CBI”), held at the same bank. From there, CBI employees withdrew the funds in cash and transported it to the CBI in Baghdad. 23 22 Iraq official interview; Jordan National Bank statements and advices for SOMO accounts; Fransabank statements and advices for SOMO accounts; Ministry of Oil record, SOMO ledger of surcharge payments (translated from Arabic); Committee oil company table; Iraq officials interviews. There were four accounts at the Jordan National Bank with sub-accounts for different currencies. These accounts were used to deposit surcharge and “border trade” revenues. Jordan National Bank record, SOMO accounts (Sept. 2000 to Oct. 2003). Two accounts were opened at Fransabank (one dollar and one euro account) under coded numbers. Fransabank statements and advices for SOMO accounts; Fransabank officials interview (Sept. 30, 2005). SOMO also maintained bank accounts at Sardar Bank (Lebanon), which contained revenues from the Turkish protocol. Iraq officials interview; Ministry of Oil record, SOMO ledger of surcharge payments (translated from Arabic); Committee oil company table. 23 Jordan National Bank official interview (Apr. 26, 2005); Iraq official interview; Fransabank record, SOMO account opening documentation (Aug. 2000); Jordan National Bank record, SOMO account opening documentation (Apr. 1997 to Mar. 2002). REPORT ON PROGRAMME MANIPULATION–OCTOBER 27, 2005 PAGE 20 OF 623
INDEPENDENT INQUIRY COMMITTEE INTO THE UNITED NATIONS OIL-FOR-FOOD PROGRAMME REPORT ON PROGRAMME MANIPULATION CHAPTER TWO OIL TRANSACTIONS AND ILLICIT PAYMENTS Chart D – Oil Surcharges—Flow of Funds 24 $64.2 billion Official Selling Price United Nations Escrow Account $ Legal $ Oil Buyer Illegal $228.8 million Surcharge Sept. 2000 – Aug. 2002 SOMO Accounts in Jordan or Lebanon IRAQ Iraqi Embassies in Foreign Countries Iraqi Regime 24 “Programme Management Report,” vol. II, p.34. The Chart indicates $228.8 million in total surcharges collected by the Government of Iraq as opposed to the $228.2 million indicated in the Committee surcharge table, which does not take into consideration $588,800 paid by companies that did not lift the oil for which they contracted. Ibid, pp. 87-88; Committee surcharge table. REPORT ON PROGRAMME MANIPULATION–OCTOBER 27, 2005 PAGE 21 OF 623
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report on programme manipulation - Independent Inquiry Committee

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