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Marc Rich: Marc Rich Group
built 134 days ago
Rich has long had ties to Mikhail Fridman and his mammoth Alfa Group, says Kvint. In 2001, Rich nearly sold his company to an Alfa division: Zug-based Crown Resources Corp. (now called ERC Trading). During the U.N. program both Rich and Chalmers bought oil from Alfa units, according to MEES: Onako and Tyumen Oil Co., respectively. The CIA report alleges that Alfa paid illegal surcharges to Saddam during Oil-for-Food, which Alfa denies.
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Among the myriad transactions to which the report refers, it mentions four transactions relating to Marc Rich + Co Investment AG ("MRI"), a former member of the Marc Rich Group. Based exclusively on a so-called "confidential source" the report alleges that one Khaled Awad of E.O.T.C. had informed "his contacts at Marc Rich + Co." about the imposition of surcharges.
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Clinton's pardon of Marc Rich triggered protests from a variety of groups. Margaret Warner talks with Morris Weinberg, the lead attorney in the case against Rich, and former White House staff prosecutor Stephanie Sherman about Clinton's action.
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