facebook
twitter
rss
account
search
search
 

U.N. oil-for-food panel set for inquiry

June 15, 2004 at 4:50 PM   |   Comments

UNITED NATIONS, June 15 (UPI) -- The independent panel investigating allegations of fraud and corruption in the U.N. Oil-for-Food Program Tuesday said it's ready for business.

The inquiry is headed up by former U.S. Federal Reserve Chairman Paul Volcker.

"Preliminary investigation is under way in priority areas," the Independent Inquiry Committee said in a news release. "These concern the allegations of corruption and mal-administration within the United Nations, its relationships with certain contractors and the performance of the contractors themselves."

A Memorandum of Understanding was reached with the Iraqi Bureau of Supreme Audit and the U.S.-led Coalition Provisional Authority in Baghdad, the committee said. The international accounting firm of Ernst & Young was hired to identify and organize important Iraqi records with respect to the Oil-for-Food Program, the panel said.

Topics: Paul Volcker
© 2004 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Conservative darling Ben Carson considering 2016 bid Conservative darling Ben Carson considering 2016 bid
2
Patient admitted to hospital with potential Ebola virus Patient admitted to hospital with potential Ebola virus
3
$900,000 Porsche Spyder catches fire at gas station $900,000 Porsche Spyder catches fire at gas station
4
Hiker trapped by flash flood dies in Zion National Park
5
9,800 U.S. troops to stay in Afghanistan 9,800 U.S. troops to stay in Afghanistan
Trending News
x
Feedback