The Paul Volcker Committee (Independent Inquiry Committee) was formed to investigate alleged

corruption Corruption is a form of dishonesty or a criminal offense which is undertaken by a person or an organization which is entrusted in a position of authority, in order to acquire illicit benefits or abuse power for one's personal gain. Corruption m ...

and

fraud In law, fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law (e.g., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compens ...

in the

United Nations The United Nations (UN) is an intergovernmental organization whose stated purposes are to maintain international peace and international security, security, develop friendly relations among nations, achieve international cooperation, and be ...

Oil-for-Food Programme The Oil-for-Food Programme (OIP), established by the United Nations in 1995 (under United Nations Security Council, UN Security Council United Nations Security Council Resolution 986, Resolution 986) was established to allow Iraq to sell Petrole ...

Iraq Iraq,; ku, عێراق, translit=Êraq officially the Republic of Iraq, '; ku, کۆماری عێراق, translit=Komarî Êraq is a country in Western Asia. It is bordered by Turkey to Iraq–Turkey border, the north, Iran to Iran–Iraq ...

. The committee was appointed by

UN Secretary General The secretary-general of the United Nations (UNSG or SG) is the chief administrative officer of the United Nations and head of the United Nations Secretariat, one of the United Nations System#Six principal organs, six principal organs of the Un ...

Kofi Annan Kofi Atta Annan (; 8 April 193818 August 2018) was a Ghanaian diplomat who served as the seventh secretary-general of the United Nations from 1997 to 2006. Annan and the UN were the co-recipients of the 2001 Nobel Peace Prize. He was the founder ...

during April 2004, following calls for a

Security Council The United Nations Security Council (UNSC) is one of the six principal organs of the United Nations (UN) and is charged with ensuring international peace and security, recommending the admission of new UN members to the General Assembly, and ...

inquiry, which was approved in Resolution 1538. The three member inquiry was chaired by former

Federal Reserve The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a ...

Chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...

and

United Nations Association of the United States of America The United Nations Association of the United States of America (UNA-USA) is a nonprofit grassroots organization dedicated to promoting political and public support for the United Nations among Americans. A program of the United Nations Foundation ...

director

Paul Volcker Paul Adolph Volcker Jr. (September 5, 1927 – December 8, 2019) was an American economist who served as the 12th chairman of the Federal Reserve from 1979 to 1987. During his tenure as chairman, Volcker was widely credited with having ended the ...

. The other members of the inquiry were

South Africa South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. It is bounded to the south by of coastline that stretch along the South Atlantic and Indian Oceans; to the north by the neighbouring countri ...

Justice Justice, in its broadest sense, is the principle that people receive that which they deserve, with the interpretation of what then constitutes "deserving" being impacted upon by numerous fields, with many differing viewpoints and perspective ...

Richard Goldstone Richard Joseph Goldstone (born 26 October 1938) is a South African former judge. After working for 17 years as a commercial lawyer, he was appointed by the South African government to serve on the Transvaal Supreme Court from 1980 to 1989 and ...

and

Swiss Swiss may refer to: * the adjectival form of Switzerland * Swiss people Places * Swiss, Missouri * Swiss, North Carolina *Swiss, West Virginia * Swiss, Wisconsin Other uses *Swiss-system tournament, in various games and sports *Swiss Internation ...

Professor Professor (commonly abbreviated as Prof.) is an Academy, academic rank at university, universities and other post-secondary education and research institutions in most countries. Literally, ''professor'' derives from Latin as a "person who pr ...

Criminal Law Criminal law is the body of law that relates to crime. It prescribes conduct perceived as threatening, harmful, or otherwise endangering to the property, health, safety, and moral welfare of people inclusive of one's self. Most criminal law i ...

Mark Pieth. The committee's 60 members of staff, which included three support personnel on loan from the UN, operated on a $30 million budget drawn from the UN Oil-for-Food

escrow An escrow is a contractual arrangement in which a third party (the stakeholder or escrow agent) receives and disburses money or property for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacti ...

account. The Independent Inquiry Committee (IIC) into the United Nations Oil-for-Food Programme released its interim report during February 2005.

External links

* * Organizations established by the United Nations United Nations Oil-for-Food scandal United Nations commissions {{UN-stub

See also

External links