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US seizes ‘$5bn of Saddam’s assets’

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Thursday, October 2, 2008

Washington has seized $5 billion as blood money for the ouster of Iraqi dictator Saddam Hussein, an Iraqi security official has revealed.

The Bush administration used the past three years to trace Saddam’s assets in Europe and has thus been able to confiscate $5 billion, according to Ali al-Baghdadi.

Saddam Hussein was ousted in 2003 by US and British forces and was later executed.

The Iraqi dictator is believed to have secretly invested or saved between $6 billion to $30 billion around the world. Some have even estimated his assets to have surpassed 100 billion dollars.


“Eleven of Saddam’s relatives managed the secret accounts and acted as his financial brokers dealing with European banks,” he told Fars news agency.

  • A d v e r t i s e m e n t

Al-Baghdadi said the accounts were opened at banks in countries like Switzerland, Denmark, Bulgaria, France and Japan.

“Some of the properties and accounts are in east European states and Yemen,” he continued.


This article was posted: Thursday, October 2, 2008 at 9:59 am

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