Oscar Wyatt, the Texan oil tycoon on trial for paying kickbacks to Saddam Hussein, has confessed that he paid illegal kickbacks to Saddam in exchange for oil contracts through the U.N. oil-for-food program.
Wyatt, who is 83, opted for a plea bargain and agreed to serve up to 24 months behind bars.
Wyatt must also pay the $11M he made as a result of his dealings with Iraq between 2000 and 2003.
Wyatt's sentencing date is set for November 27th.
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