Defendants plead not guilty in UN oil-for-food case

Defendants plead not guilty in UN oil-for-food case

[JURIST] Following up on a story reported last week in JURIST's Paper Chase, two Houston oil executives pleaded not guilty Monday in a Manhattan federal court to charges of defrauding the UN Oil-For-Food program [JURIST news archive] and paying millions of dollars in kickbacks to Saddam Hussein's Iraqi government. David B. Chalmers Jr., owner of Houston-based Bayoil (USA) Inc., and oil trader Ludmil Dionissiev, a Bulgarian citizen and permanent US resident were arrested last Thursday and charged with cheating the UN out of $100 million that was supposed to go to humanitarian aid. The men were allowed to remain free on $500,000 bail each. If convicted of the charges, Chalmers and Dionissiev could face up to 62 years in prison and a fine of $1 million. AP has more.