Video: Bill Clinton Pardons Marc Rich The Greatest Tax Swindler In American History part of Marc Rich

Video Related To: Marc Rich

Last mentioned in Zurich : Switzerland

Marc Rich (born Marcell David Reich; December 18, 1934) is an international commodities trader and entrepreneur. He is best known for founding the commodities company Glencore....

Add related content for this person

Video Source: www.youtube.com

Bill Clinton Pardons Marc Rich The Greatest Tax Swindler In American History

February 4, 2001 .... Members of a younger generation may draw blanks when asked to recall Marc Rich, but for three decades he was the world's most powerful and secretive oil trader, an international fugitive from American law enforcement for the "largest tax evasion ever" (in the words of then-prosecutor Rudy Giuliani), racketeering and trading with Iran during the hostage crisis. Iran-Contra, learn it and know it. Rich was pardoned by Bill Clinton in the last hours of his presidency, he had earned billions over 16 years selling oil for the Iranian ayatollahs, much of it to Israel and apartheid South Africa. Rich secretly helped enemies become strange bedfellows. Even Iran's taking of 53 American hostages in 1979, which sparked the American oil embargo, didn't stop Rich's business. The embargo and the Iranian Revolution that same year proved a boon for him. The anti-Semitic, anti-American fundamentalist clerics had no problem trading with the Jewish-American businessman. "We performed a service for them," Rich told Ammann. "We bought the oil, we handled the transport, and we sold it. They couldn't do it themselves, so we were able to do it." The contract continued through the two-year hostage crisis, after the US cut diplomatic ties with Iran and prohibited the import of its oil. Rich's company, the Swiss-based Marc Rich + Co, purchased approximately 60 to 75 million barrels of Iranian oil every year up to 1994, according to Amman. In 1983, Rich, who as a boy named Marc <b>...</b>
Views : pending


Use of this site is governed by our Terms of Use Agreement and Privacy Policy.

© Allvoices, Inc. 2008-2014. All rights reserved. Powered by PulsePoint.