Texas oilman Wyatt sentenced to year in prison

By Christine Kearney

NEW YORK (Reuters) - Texas oilman Oscar Wyatt was sentenced to one year and one day in prison on Tuesday for conspiracy in the U.N. oil-for-food scandal, becoming the most prominent figure jailed over corruption in the program to buy oil from Saddam Hussein's Iraq.

The outspoken self-made oil tycoon, 83, was sentenced in Manhattan federal court after he pleaded guilty to conspiracy to commit wire fraud in October, four weeks into his criminal trial and just before prosecutors were to rest their case.

Under his plea agreement, prosecutors dropped four other counts against him, cutting short a trial in which they made a case that he paid secret kickbacks to Saddam's government to win oil contracts from Iraq.

Wyatt broke down in tears as he pleaded for leniency before U.S. District Judge Denny Chin, who could have sentenced Wyatt to up to two years under federal guidelines. He originally faced up to 74 years in prison.

"My opinions, in many ways, probably caused me to skirt too close to the law," Wyatt told the judge. "For that I was wrong and for that I am truly sorry."

The judge said he had "never seen such an outpouring of letters" from supporters that detailed acts of patriotism and philanthropy but said he did not believe Wyatt had been unfairly made an example of over the oil-for-food scandal.

"The big oil companies may have gotten off lightly, but I don't believe Mr. Wyatt was prosecuted because of politics," he said, adding Wyatt clearly broke the law.

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