Vitol
"In 2007, Vitol pled guilty in a New York court to paying surcharges to Iraq's national oil company during Saddam Hussein's regime, undermining the UN oil-for-food programme in Iraq. It paid fines, restitution and costs totalling $17.5m. " [1]
"Vitol is one of the biggest trading companies on the planet and the ninth largest corporation in the world by revenue... A contract with Iraq ended particularly badly in 2007 when Vitol was among 2,200 companies in 66 countries found guilty of paying kickbacks to win oil supply deals. It pleaded guilty to grand larceny in the US for providing kickbacks to government officials under the UN oil-for-food program. Vitol forked out $17.5m in fines but avoiding sanctions against individual executives. However, Taylor argues that it never actually paid any bribes, and he insists the case was politically motivated. " [2]
- Ian Roper Taylor serves as Chief Executive Officer and President of Vitol Holding
