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Chairman of Paul Martin company that accepted Saddam's million worked for Power Corp.

by Judi McLeod, Canadafreepress.com
Monday, April 25, 2005

The former chairman of the Prime Minister Paul Martin-owned company that accepted $1 million from Saddam Hussein, worked with Martin at the Paul Desmarais-owned Power Corporation.

William Turner was chairman of Cordex Petroleums Inc., an oil and gas exploration and production company based in Alberta with an American subsidiary in Denver, Colo.

Listed among Martin's Public Declaration of Declarable Assets submitted to the Federal Ethics Committee are his 100 percent ownership of both Canada Steamship Lines and Canada Steamship Lines Group Inc., which owns 4.6 percent of Cordex Petroleums Inc.

Martin's mentor and senior aide to UN Secretary Kofi Annan admitted on Thursday that Tongsun Park, the Korean accused by U.S. federal authorities of illegally acting as an Iraqi agent, invested in Cordex, the company he owned with his son in 1997.

"When former Power Corp. President Maurice Strong left to head up the Canadian International Development Agency (CIDA) in Ottawa, William Turner and Martin teamed up as president and vice president, respectively." (Bill Rodgers, Sun Media, Sept. 14, 2003).

Turner, a protégé of Strong's, was one of the first NGO leaders selected for funding by Strong, and sat on the Foundation Board of the World Economic Forum.

"NGOs were funded by the Canadian government to attend the 1972 Stockholm Conference on Human Environment (Earth Summit 1) to give the appearance of participation by the general public." (The New Guy in your Future, Henry Lamb, 1997). "Of course, only those NGOs personally selected by Strong received funding. One such NGO was headed by William Turner, Strong's protégé who then headed the Power Corp., which Strong once headed."

Power Corp., through its ties to the New York branch of the Banque Nationale de Paris-Paribas, or BNP Paribas is also linked to the UN oil-for-food scandal. BNP Paribas was the sole bank for administering the $64 billion oil-for-food program and did not have adequate checks on whether money was being funneled to terrorists, a House International Relations Committee probe found in November 2004.

Committee investigators uncovered evidence that BNP Paribas made payments without proof that goods were delivered and sanctioned payments to third parties not identified as authorized recipients.

Investigators suspect Saddam was able to skim off $10-billion or more during the period from secret oil sales and kickbacks on oil-for-food contracts.

A LexisNexis power search for Cordex Petroleums shows that Turner, chairman of the board of directors and a director of Cordex Petroleums stepped down as chairman effective January 15, 1998 at a board of directors meeting. Turner, who continued his position as a director of the corporation, was replaced by Maurice Strong as interim chairman.

Turner is chairman and CEO of Exsultate, Canada, a personal investment and management holding company that, with its associates, accounts for over US100, 000 million. Its geographical fields of interest are the European and North American common markets.

Other CFP Stories about Paul Martin and Maurice strong

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  • The real Maurice Strong, Canadian Broadcasting Corporation style
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  • Oil-for-Food scandal: The French connection

    Canada Free Press founding editor Most recent by Judi McLeod is an award-winning journalist with 30 years experience in the print media. Her work has appeared on Newsmax.com, Drudge Report, Foxnews.com, Glenn Beck. Judi can be reached at: judi@canadafreepress.com


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