Thursday, August 26, 2004

Meanwhile, back at the bank...

The British Business Telegraph has an article on the U.S. Treasury's investigation into the "UN Oil-for-Food" scandal:

"Two European banks were yesterday accused by the US Treasury Department of helping Saddam Hussein launder money stolen from the UN oil-for-food programme.

"American authorities aim to cut the Infobank of Belarus and First Merchant Bank of Cyprus out of the financial system by making mainstream institutions aware of the allegations.

"The Treasury Department dubbed the banks "primary money laundering concerns" for their failure to combat problems with the oil-for-food scheme."

Read the entire article here (Hat-tip to Instapundit)

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