Texas Bigwig Punished For Oil-For-Food Role

Law360, New York (November 27, 2007, 12:00 AM EST) -- After entering a guilty plea in October, a Texas oil tycoon has been ordered to spend a little more than a year in prison for allegedly paying Sadaam Hussein's regime millions of dollars in kickbacks for deals connected to the United Nations' tarnished oil-for-food program.

On Tuesday, U.S. District Judge Denny Chin sentenced Oscar Wyatt Jr. to serve a year plus one day, slapping on an additional three years supervised release as punishment for his alleged role in the scandal.

The 83-year-old founder of Coastal Corporation...
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