Bill Clinton’s pardon of fugitive Marc Rich continues to pay big
But while the pardon was a political mistake, it certainly was not a financial one. In the years following the scandal, the flow of funds from those connected to Marc Rich or the pardon scandal have continued to the Clintons.
Rich’s business partners, lawyers, advisers and friends have showered millions of dollars on the Clintons in the decade and a half following the scandal.
Rich died in 2013. But his business partners, lawyers, advisers and friends have showered millions of dollars on the Clintons in the decade and a half following the scandal.
Nigerian businessman Gilbert Chagoury is well known as a close ally and business associate of Rich. The Nigerian media declared in 1999 that the “Gilbert Chagoury-Marc Rich alliance remains a formidable foe.” They sold oil on international markets together. In 2000, Chagoury was convicted in Geneva of money laundering and aiding a criminal organization in connection with the billions of dollars stolen from Nigeria during the reign of dictator Gen. Sani Abacha.
As part of a plea deal, the conviction was later expunged.
Chagoury has been very generous to the Clintons in the years following the Rich pardon. He has organized an event at which Bill was paid $100,000 to speak (in 2003), donated millions to the Clinton Foundation and in 2009 pledged a cool $1 billion to the Clinton Global Initiative. The Chagourys were also active in Hillary’s 2008 presidential bid. Michel Chaghouri, a relative in Los Angeles, was a bundler and served on her campaign staff. Numerous other relatives gave the maximum $4,600 each to her campaign.
In return, Bill has lavished praised on Chagoury over the years. In 2005, Bill was the keynote speaker when Chagoury received the “Pride of Heritage Award” from the Lebanese community.
In 2009, CGI gave Chagoury’s company an award for sustainable development. In 2013, Bill showed up in Nigeria for a public ceremony involving one of Chagoury’s projects. When Bill Clinton had his 60th birthday party, Chagoury was an invited guest. Chagoury also attended the wedding of Bill’s longtime aide, Doug Band.
Then there’s Russian investor Sergei Kurzin. He worked for Marc Rich in the 1990s, traveling around Russia looking for suitable investment opportunities in the crumbled former Soviet Union.
An engineer by training, Kurzin has been involved in lucrative deals in Kazakhstan and other countries, including the lucrative Uranium One deal that involved Bill Clinton and Frank Giustra.
Russia bought 20 percent of all uranium production capacity in the US, a deal that needed to be signed off on by the State Department when it was headed by Hillary Clinton. While the deal was going through, Bill Clinton was paid $500,000 to give a speech in Moscow, paid for by a Russian investment bank promoting the uranium deal.
Kurzin, meanwhile, donated $1 million to the Clinton Foundation.
Wednesday, January 20, 2016
How Bill Clinton's Pardons Netted Over $1 Billion For Clinton Operations
Marc Rich was on the FBI's 10 most wanted list, until he was pardoned by Bill Clinton.