report on programme manipulation - Independent Inquiry Committee

INDEPENDENT INQUIRY COMMITTEE INTO THE UNITED NATIONS OIL-FOR-FOOD PROGRAMME
REPORT ON PROGRAMME MANIPULATION
CHAPTER TWO
OIL TRANSACTIONS AND ILLICIT PAYMENTS
Nafta Petroleum and, subsequently, Mednafta Trading Co. provided power of attorney to Catalina
Miguel. She signed oil contracts as director of the companies. Mohammed Saidji also was given
power of attorney for Mednafta Trading Co. He signed one oil contract as the company’s director
in Phase XII. Bank records show that Ms. Miguel and Mr. Saidji were account signatories, and
Ms. Miguel was the beneficial owner of Mednafta Trading Co.’s account at BNP Suisse. 350
In Mr. Wyatt’s dealings with the United Nations, however, he identified himself as controlling
Mednafta Trading Co. In correspondence with the United Nations, Mr. Wyatt identified himself
as the director of Mednafta Trading Co. After a meeting with Mr. Wyatt, United Nations oil
overseers referred to Mednafta Trading Co. in internal correspondence as being owned by Mr.
Wyatt. 351
Mr. Wyatt also was involved in the finances of Mednafta Trading Co. The initial deposit to open
Mednafta’s Swiss bank account was made by Mr. Wyatt. Bank records show that Mr. Wyatt was
described to the bank as a “consultant” to Mednafta Trading Co., and the first deposit of $5
million as a “loan” to Mednafta Trading Co. Following this deposit, an additional sum of almost
$10 million was transferred to the Mednafta Trading Co. bank account by either Mr. Wyatt or
NuCoastal, one of Mr. Wyatt’s companies based in Houston. Between May 2002 and October
2003, over $11 million was also transferred from the Mednafta Trading Co. account to accounts
for Mr. Wyatt and NuCoastal. 352
“Mednafta/Oscar Wyatt”), Phase XII (May 19, 2002) (indicating an allocation of 4 million barrels of oil for
“Mednafta/Oscar Wyatt”). Contract M/10/13 was transferred from Nafta Petroleum to Mednafta Trading
Co. (through which future oil was lifted) in Phase X. Nafta Petroleum fax to oil overseers (July 29, 2001);
SOMO amendment to sales contract, no. M/10/13 (July 25, 2001); SOMO fax to oil overseers (Aug. 4,
2001).
350 SOMO sales contracts, nos. M/09/28 (Jan. 18, 2001), M/10/13 (July 12 and Aug. 4, 2001) (initially
signed for Nafta Petroleum by Ms. Miguel and then signed again by Ms. Miguel as a director of Mednafta
Trading Co.), M/11/55 (Feb. 4, 2002), M/12/19 (June 6, 2002). Nafta Petroleum record, power of attorney
agreement (Jan. 22, 2001); Mednafta Trading Co. record, power of attorney agreements (Mar. 9, 2001);
Iraq official interview.
351 Oscar Wyatt letter to 661 Committee Chairman (Aug. 6, 2002); Michel Tellings e-mail to J. Christer
Elfverson, Alexandre Kramar, and Morten Buur-Jensen (Aug. 19, 2002) (following a meeting with Mr.
Wyatt); Michel Tellings interview (Oct. 15, 2004).
352 BNP record, Mednafta Trading Co. account, account opening documents (June 1 and 7 and July 19,
2001); Confidential document; BNP record, Mednafta Trading Co. account, credit advices (June 7, 2001)
($5,000,000), (May 29, 2002) ($6,135,614.46), (Aug. 2, 2002) ($500,000), (Dec. 2, 2002) ($64,456.58),
(Jan. 14, 2003) ($600,000), (Feb. 21, 2003) ($144,866.75), (May 14, 2003) ($57,425.02), (Oct. 24, 2003)
($1,400,000), (Oct. 27, 2003) ($1,400,000); Monica Perin, “Nucoastal [sic] to revive shuttered electric
plant,” Houston Business Journal, Mar. 4, 2005; “Enron sells North American pipeline business for
$2.2B,” Houston Business Journal, May 21, 2004, p.4; Mary Alice Robbins, “NuCoastal LLC purchases
Enron’s Crosscountry Energy,” Texas Lawyer, June 7, 2004, p.5; Thora Qaddumi, “Mergers and
acquisitions market remains active in Houston area,” Houston Business Journal, July 2, 2004, p.35; David
Chalmers letter to Oscar Wyatt (Feb. 7, 2003); Mednafta Trading Co. fax to BNP (May 20, 2002); BNP
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