Volcker to probe Iraq oil for food program

Paul Volcker, the former chairman of the Federal Reserve, began a high-level investigation on Wednesday 21 April into allegations of kickbacks and bribes in the UN-run oil-for-food program for Iraq.

Volcker assumed his post as head of a three-man team after he was assured that all 15 members of the UN Security Council adopted a resolution to back the investigation, which will include a probe of contracts with Iraq around the world.

"We will be following the money as well as we can," Volcker sai

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