I hadn't heard of this before until now.
March 06, 2008
Obama's Iraqi Oil for Food connection
Out on bail awaiting trial, dual US-Syrian citizen, Antoin ‘Tony' Rezko, was rousted out of bed by police pounding on the doors of his Chicago mansion the morning of Monday, January 28. According to the Associated Press:
"U.S. District Judge Amy J. St. Eve jailed Rezko...saying he had disobeyed her order to keep her posted on his financial status. Among other things, he failed to tell her about a $3.5 million loan from London-based Iraqi billionaire Nadhmi Auchi -- a loan that was later forgiven in exchange for shares in a prime slice of Chicago real estate. Rezko gave $700,000 of the money to his wife and used the rest to pay legal bills and funnel cash to various supporters."
Funds from Auchi's loan may have helped finance a complex series of transactions between Rezko and Democratic Presidential candidate Illinois Senator Barack Obama involving the 2005 purchase of Obama's Chicago mansion and Rezko's purchase of an adjoining landlocked parcel.
The Times of London reports:
"A company related to Mr. Auchi, who has a conviction for corruption in France, registered the loan to Mr. Obama's bagman Antoin ‘Tony' Rezko on May, 23 2005. Mr. Auchi says the loan, through the Panamanian company Fintrade Services SA, was for $3.5 million.
"Three weeks later, Mr. Obama bought a house on the city's South Side while Mr Rezko's wife bought the garden plot next door from the same seller on the same day, June 15. Mr. Obama says he never used Mrs. Rezko's still-empty lot, which could only be accessed through his property. But he admits he paid his gardener to mow the lawn."
Rezko's relationship with Barack Obama goes back to at least 1990, when Obama's law firm did work relating to a Rezko housing development. Rezko was a key early-money fund raiser in Obama's state Senate campaigns and his failed run at the US Congress. In June 2005, when the mansion was purchased, Rezko was widely known to be under federal investigation. Rezko also is a key fundraiser for Illinois Democratic Governor Rod Blagojevich.
The sudden emergence of Auchi into this story indicates Rezko's deals may include a money trail leading back to dead Iraqi dictator Saddam Hussein. Auchi's Saddam links trace back to a failed 1959 assassination attempt on the life of then-Iraqi-prime-minister Abdul Karim Qasim.
Auchi's General Mediterranean Holdings company was also the largest private shareholder in Banque Nationale de Paris which later merged with Paribas to become BNP Paribas. At Saddam's insistence, billions of dollars of Oil for Food transactions passed through BNP from its 1995 inception until 2001.
In January 2004, Iraqi newspaper Al-Mada published a list of 270 Oil for Food beneficiaries. The list was translated and published on line by The Middle East Media Research Institute. Hundreds of millions of dollars of Oil for Food money was illegally diverted to buy Saddam favor from the United Nations, possibly reaching as high as Secretary general Kofi Annan's son. Also receiving million's from Saddam's slush fund were heads of state and their associates from Russia, France, China, and numerous Islamic countries.
The Auchi-Obama links go beyond the mansion deal. The Times of London February 1 reports uncovering, "state documents in Illinois recording that Fintrade Services, a Panamanian company, lent money to (an) Obama fundraiser in May 2005. Fintrade's directors include Ibtisam Auchi, the name of Mr. Auchi's wife." http://www.americanthinker.com/2008/03/obamas_iraqi_oil_for_food_conn.html
Can also read more about it on wiki
http://en.wikipedia.org/wiki/Nadhmi_Auchi
The Obama Files
[url]http://www.discoverthenetworks.org/Articles/The%20Obama%20Files.html[/url[
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