Saddam Hussein knew Oscar Wyatt Jr.
The WSJ reports that octogenarian Oscar Wyatt Jr. pleaded guilty today to paying surcharges in return for contracts to buy Iraqi oil under the United Nations’s oil-for-food program. The deal calls for the oilman from Houston to spend 18 to 24 months in prison and forfeit $11 million.
According to the Federal Trade Commission, El Paso Energy bought a company that Mr. Wyatt founded, the Coastal Corporation, in 2001 for $16 billion.
The UN’s oil-for-food program lasted from 1996 until 2003. The plea arrangement ended a criminal trial in New York against Mr. Wyatt.
Barry Barnett
