Looks like the investigating committee led by Volcker has come to some conclusions:
A U.N.-established inquiry into corruption in the $64 billion oil-for-food program will accuse the defunct program’s director, Benon V. Sevan, of receiving cash kickbacks for steering lucrative Iraqi oil contracts to an Egyptian oil trader, according to Sevan’s lawyer.
Former U.S. Federal Reserve chairman Paul A. Volcker, who is heading the independent inquiry committee, is to release a third interim report Tuesday that the lawyer, Eric L. Lewis, said in a statement will also accuse Sevan, of Cyprus, of refusing to cooperate.
Lewis said Sevan is being made a scapegoat to deflect criticism of Secretary General Kofi Annan. Lewis said that the allegations, which were outlined in a confidential letter from the Volcker committee to Sevan last week, are “flatly false” and that he is going public to get his client’s side of the story out before Volcker issues the report. “Mr. Sevan never took anything from anyone,” he said.
The Volcker committee has been investigating misconduct in the United Nations’ largest humanitarian program for more than a year, and previously accused Sevan of improperly directing business to an associate. But next week’s report will represent the first time that the committee will accuse Sevan of benefiting from those activities.
Read the whole thing.