October 28, 2005

The IHC Story

Digging deeper into the maze of commerce and corruption that was the contracting and procurement system of the Oil-For-Food program, Claudia Rosett tries to track down the principals behind IHC Corp, an entity that benefited from hundreds of millions of dollars worth of U.N. contracts.

What next might turn up in the IHC saga depends on a number of investigations. But in an era when many authorities are worried about the transit of millions across borders and the enforcement of good governance, it appears the U.N. has been serving as a bazaar in which corruption, conflicts of interest and shadowy financial networks have found ways to set up shop. Behind the maze, who was the real owner of IHC during its nine years of doing big business with the U.N.? The U.N. won't say, and quite possibly does not even know. Its policy, in fact, was not even to ask.
Posted by dan at October 28, 2005 10:27 PM