Texan oil boss jailed

A Texan oil executive has been jailed for two years for approving the payment of millions of dollars in bribes to Saddam Hussein’s Iraq regime so he could secure large oil shipments through the United Nations’ oil for food programme.

US District Judge Denny Chin, sitting in Manhattan, also fined David Chalmers €6.2m. He sentenced Chalmers’ companies, Bayoil USA and the Bahamas-based Bayoil Supply & Trading, to three years’ probation.