Word: kroll
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...Jules Kroll, a New York City investigator who previously tracked down hidden assets of Marcos and former Haitian President Jean-Claude ("Baby Doc") Duvalier, disclosed the audacious magnitude of Saddam's scheme last week on CBS's 60 Minutes. Kroll began chasing the hidden billions after Kuwait's government-in-exile hired him in the wake of last year's invasion. His mission: to locate secret Iraqi funds that Kuwait could use to rebuild itself once the crisis ended. "The phenomenon of using front companies is common," Kroll says of his findings. "What distinguishes this one is its level...
Saddam launched the scheme after he seized power in 1979, Kroll and other investigators say. Key figures in the family-run scam allegedly included Saddam's half brother Barzan al-Takriti, Iraq's ambassador to the United Nations in Geneva, and Saddam's son-in-law Hussein Kamel, Iraq's Minister for Oil and Industry. Probers say the conspirators siphoned off 5% of the $200 billion that Iraq accumulated in oil revenues during the past decade. The group also reportedly demanded a 2.5% kickback from Japanese firms that did business in Iraq, and even skimmed off money from contracts between...
Saddam shifted his funds through scores of dummy firms and dozens of foreign banks. Conspicuous among the financial institutions was B.C.C.I., now based in Abu Dhabi, which Kroll called "one of the more prominent banks in handling Iraqi money." Saddam also used a Panamanian shell company called Montana Management to acquire an 8.4% stake in Hachette, the publisher of such popular magazines as Elle, Woman's Day and Road & Track. While Hachette swiftly denied that Montana played any role in its management, nervous investors unloaded the media giant's stock, causing it to lose 3.6% of its value...
...next day in Berlin, in the ornate Kroll Opera, where the Reichstag had met ever since a mysterious outbreak of arson gutted its traditional headquarters in 1933, Chancellor Hitler arrived wearing the "sacred coat" of the German infantryman and used the crudely faked fracas in Gleiwitz to justify his invasion of Poland. "For the first time Polish regular soldiers fired on our own territory," he told the brown-shirted deputies. "Since 5:45 a.m. we have been returning the fire, and from now on bombs will be met with bombs...
...creating new law as we do this," Kroll said Wednesday. "This is all new turf. We started this case and everybody laughed at us. But we have succeeded every step of the way and we intend to continue to be successful...