Indicted Saudi gets $80 million US contract

 

ABC News reports on the humorous story of Gaith Pharaon, a Saudi financier who is wanted by the FBI for alleged bank fraud that cost US taxpayer $1.7 billion. The funny part is that the US military just awarded him an $80 million contract to supply jet fuel to US military bases in Afghanistan.

The US military has awarded an $80 million contract to a prominent Saudi financier who has been indicted by the US Justice Department. The contract to supply jet fuel to American bases in Afghanistan was awarded to the Attock Refinery Ltd, a Pakistani-based refinery owned by Gaith Pharaon. Pharaon is wanted in connection with his alleged role at the failed Bank of Credit and Commerce International (BCCI), and the CenTrust savings and loan scandal, which cost US tax payers $1.7 billion.

As a purely coincidental aside: "Pharaon was also an investor in President George W. Bush's first business venture, Arbusto Energy."

Link (via Reason Hit & Run )