Unbelievable... El Paso Corp. buys 21 million barrels of Iraqi crude illegally and get this...

[mikelewis]

they walk away from prosecution with a 7 million dollar fine. How the fuck does that work? Shouldn't they have to at least forfeit the profit from the illegal deals? If they only made a dollar off the illegal crude, they're walking away from a very serious crime with a 14 million dollar profit... that's Texas Justice for you...

El Paso to pay 7.7 million dollars to settle Iraq-oil charges

U.S. natural-gas giant El Paso Corp. will pay 7.7 million U.S. dollars to settle civil and criminal charges that it paid illegal surcharges to Iraq in connection with its purchases of crude oil from outside parties under the United Nations oil-for-food program, The Wall Street Journal reported on Thursday.

The report quoted the Securities and Exchange Commission as saying that from June 2001 to June 2002, the Houston natural-gas producer and pipeline firm bought 21.4 million barrels of oil under 15 contracts from third parties who participated in the program.

The SEC said that 25 to 30 cents a barrel was illegally kicked back to Iraq in the form of a secret surcharge, according to the report.

A spokesman for El Paso said that the company is continuing to cooperate with the investigation.

That's right folks, this country is now the best hypocrisy money can buy.

[Selatius]

1. Where there is greed, there is a way.

The SEC should've gone to trial rather than settle out. I don't know if they folded because it was easier to get them to pay a fine or because they lack the evidence to get a conviction.

[mikelewis]

4. I have no problem with the fine, the problem is.. let the fine match the crime.

No one should be able to profit by crime and yet Republicans get to do it all the time. Those who worship Money are forgiven their sins by money and all the while, life suffers. It's disgusting and wicked.

[babylonsister]

2. Wow. Not a word on a corporate news channel either. We need to try to

change this.

[Wiley50]

3. They Make Pretty Crappy Fake Mexican Food Too

No wonder.

Always thought their refried beans were very oily.

[newyawker99]

5. x