LONDON – Italian weekly business magazine Il Mondo has apologised to Nadhmi Auchi, the British tycoon, for accusing him of being “Saddam Hussein’s treasurer” in an article published in 2005.
Auchi accepted Il Mondo’s apology for any distress caused to him after the magazine admitted the allegations were wholly false. “Unfortunately, once false statements are on the Internet, even with a full apology, they continue to surface,” said Auchi, reflecting on the apology.
Il Mondo has agreed to pay for the substantial damages caused to Auchi and legal fees.
Il Mondo, part of the international multimedia publishing group RCS MediaGroup, is one of the leading Italian weekly business magazines with a weekly circulation of 100,000 readers.
A representative from Schillings, Auchi’s London-based law firm in the case, said: “This was an interesting case because although Il Mondo is based in Italy it is still liable pursuant to English law to the extent that the content of its Web site is accessible here.” Schillings is the UK’s leading law firm protecting the reputations of high-profile individuals, corporations, and brands.
This is not the first time a European media outlet falsely published allegations about the British tycoon and later apologised for misreporting.
United Kingdom newspapers The Sunday Times and Mail On Sunday apologised to Auchi for wrongly reporting in February 2005 that he was embroiled in a US investigation.
The Sunday Times said that its report was based on an internal United States Department of Defense report which was subsequently discredited.
Another British newspaper, The Financial Times, apologised to Auchi for making mistakes in an article published on 11 November 2003, which linked him to alleged corrupt practices in a mobile phone contracts deal in Iraq.
The article, headlined “US delays mobile phone contracts to investigate,” stated that US authorities in Iraq had launched an investigation into the award of mobile phone operators licences to inquire into possible corrupt practices, and that the investigation would focus on Auchi’s role in the awarding of the contracts.
The paper published a correction that stated the US Government ultimately decided not to pursue the investigation, beyond a preliminary enquiry, as there was no evidence of any wrongdoing on Auchi’s part.
Auchi heads General Mediterranean Holding Group (GMH), a diverse business conglomerate with interests worldwide in finance and investment; hotels and leisure; real estate and construction; aviation; pharmaceuticals; power generation and advertising, broadcasting and new media. GMH, based in Luxembourg, has assets currently valued at over $4 billion (US) and includes more than 120 companies with a presence in 28 countries. The GMH family of companies employs more than 6,000 people worldwide.
In recognition of Auchi’s extensive business, charitable and humanitarian activities around the world, he has received scores of awards and honorary appointments, including a number of Royal and State decorations.
Auchi was knighted by the late Pope, His Holiness John Paul II, with the Pontifical Order of Pope Saint Sylvester in 2004. That same year, Queen Elizabeth II granted Auchi his Coat of Arms. In addition, Auchi was decorated as an Officer of the Order of the Republic by His Excellency Zine El Abidine Ben Ali, president of the Tunisian Republic; was awarded the Grand Cordon of the Order of Independence by His Majesty King Abudullah II of Jordan; awarded the First Grade of the Lebanese Order of merit and appointed Commander of the National Order of the Cedar and a Grand Officer in the National Order of the Cedar by His Excellency General Emile Lahoud of Lebanon; made Grao-Mestre da Ordem do Merito Anhanguera in Brazil; and honoured by the Roman Catholic Sacred Military Constantian Order of St. George with the honour and dignity of Knight Grand Cross of the Royal Order of Francis I in recognition of Auchi’s major contributions to inter-church and inter-faith dialogue.
Auchi is also the president of the Anglo-Arab Organisation (AAO), a non-profit group that promotes the integration of British Arabs into mainstream British society, whilst retaining their identity.
The AAO philanthropy achievements include donations to charities, humanitarian causes and scientific research.
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