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Iraqi Oil-for-Food Contracts, Kickback Edition, Swiss Account Included

Contracts under a UN humanitarian programme, bought with more than £3m in kickbacks. Buyer pleaded guilty.

Sold2001–2004International

more than £3M≈ €3.58MAs stated in the source: more than £3m in kickbacks

Already sold, to Weir Group Plc, in 2001–2004. Nothing on Lobay is for sale.

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Seller

Role: Iraqi Government
Institution: Government of Iraq
Country: Iraq

Item specifics

Condition	Guilty plea, final. High Court in Edinburgh, 15 December 2010
Location	Iraq
Seller	Iraqi Government
Winning bidder	Weir Group Plc
Category	Other: UN Oil-for-Food contracts
Sold	2001–2004
Payment method	Through a Swiss bank account
Returns	No returns. Fined £3 million; confiscation order for £13.9 million (2010)

Description

What the bribe bought

The High Court in Edinburgh made Weir Group Plc subject of a confiscation order for £13.9 million of its illegal profits.

Return on bribe: Every £1 of bribes earned about £4.63.Rough figure: the bribe is stated as “more than”, the gain as “exact”.

What happened

Glasgow-based Weir Group Plc pleaded guilty to paying kickbacks in return for contracts from the Iraqi Government under the UN Oil-for-Food Programme. The court heard it paid more than £3m in kickbacks through a Swiss bank account between September 2001 and April 2004, in breach of UN sanctions against Iraq. On 15 December 2010 the High Court in Edinburgh fined the company £3 million and made it subject of the confiscation order.

Read the article

Weir Group fined £3m over Saddam sanctions breaches · BBC News

Official record

Bribery prosecutions in Scotland | COPFS · COPFS

Shipping & returns

Authority	Kind	Amount	Year
High Court in Edinburgh	fine	£3M≈ €3.58MAs stated in the source: fined £3 million	2010
High Court in Edinburgh	confiscation	£13.9M≈ €16.6MAs stated in the source: made subject of a confiscation order for £13.9 million	2010