Bayoil Founder Loses Bid To Drop Iraqi Kickback Case

Law360, New York (February 26, 2007, 12:00 AM EST) -- A federal judge has refused to drop charges against Coastal Corporation founder Oscar Wyatt Jr., a Houston oil tycoon who says he was targeted for “selective and vindictive” prosecution in the illegal surcharges case because of his criticism of the United States' Iraq policy.

U.S. District Judge Denny Chin on Monday rejected Wyatt’s bid to dismiss fraud and conspiracy charges against Wyatt or Bayoil, another purported participant in the United Nations’ Oil-for-Food program.

The Houston, Texas-based oil refinery and three Bayoil executives stand accused of paying...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.