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Home> Renault Corruption> Renault Trucks Iraq Fraud

 PSST! EFENDI ...WANNA BUY SOME TRUCKS?

Investigators from the U.S. Department of Justice caught out employees of Renault Trucks* bribing the late dictator Saddam Hussein's Government in Iraq to win supply contracts.

It turns out that Renault Trucks was working a scam with Saddam Hussein's regime in order to take advantage of the United Nations 'Food For Oil' programme.

The 'Food For Oil' programme was intended to allow Iraq to purchase food, medicines and other goods to provide humanitarian aid to the Iraqi people after the first Gulf War.

But Renault Trucks couldn't resist the temptation to fix its bid to supply commercial vehicles to the Iraqi Government by paying bribes.

The U.S. Department of Justice revealed that its Fraud Section, working with the FBI, has identified corruption through employees of Renault Trucks who worked a scam on the United Nations to hide the fraud. Read on ....

* Renault Trucks is a subsidiary of AB Volvo, itself part-owned by Renault.
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The U.S. Department of Justice said:

'... employees and agents of Renault Trucks paid a total of approximately $5 million in kickbacks to the Iraqi government for a total of approximately 61 million euros worth of contracts with various Iraqi ministries. To pay the kickbacks, Renault Trucks inflated the price of contracts by approximately 10 percent before submitting them to the United Nations for approval and concealed from the United Nations the fact that the contract prices contained a kickback to the Iraqi government.'

Renault Trucks even had contractors fit vehicle bodies on its trucks and inflate their charges for the work. The contractors then sent the overcharged money to the Iraqi Government as bribes!

Having been caught out paying $5million in bribes, the parent company of Renault Trucks, AB Volvo, will have to pay a fine of $4million plus the $8.6million profit it made on its dodgy deals with Saddam Hussein.

Read the Department of Justice papers ...
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