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Latest Business News

Texan Pleads Not Guilty in U.N. Oil Probe

Thursday, October 27, 2005 3:53:58 PM
By LARRY NEUMEISTER

Oscar S. Wyatt Jr. , 81, founder and former chairman of Coastal Corp. exits Manhattan federal court following his arraignment, Thursday, Oct. 27, 2005, in New York. The Texas oilman pleaded not guilty Thursday to charges that he conspired to pay several million dollars in illegal kickbacks to Saddam Hussein's Iraqi regime to win contracts through the United Nations oil-for-food program. (AP Photo/ Louis Lanzano)NEW YORK (AP) - Texas oilman Oscar S. Wyatt Jr. pleaded not guilty Thursday to charges that he conspired to pay several million dollars in illegal kickbacks to Saddam Hussein's Iraqi regime to win contracts through the United Nations oil-for-food program.

His arm in a sling, the 81-year-old wealthy former chairman of Coastal Corp., who was arrested last week, entered the plea as U.S. District Judge Denny Chin set a June 20 trial date. Outside court later, he said he had undergone surgery on his arm, but he declined to comment on the case.

One of Wyatt's lawyers, Richard A. Hibey said: "This is a questionable prosecution. We'll probably be less charitable as things move along, but let's leave it at that for now."


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