Saddam stashed millions in bank account codenamed Satan

A retired banker living in Switzerland helped Iraqi president Saddam Hussein hide millions of dollars for 10 years in a bank account codenamed Satan, Britain's Sunday Times has reported.

Elio Borradori, a 75 year old company trustee in the tax havens of Liechtenstein and Lugano, Switzerland, took huge "commissions" and "consultancy fees" from arms deals and development contracts.

It was funnelled into companies through Panama, the Bahamas and Switzerland and is thought to have partly funded Saddam's lavish lifestyle, the paper said.

Just before the Gulf war in 1991 almost $1 billion was taken from Satan and other accounts and hidden. The Sunday Times uncovered more than 1,000 documents, some which confirmed Borradori's role.

Borradori admitted working for Saddam but said he could not remember details of his work. He described the Iraqi dictator as "a bloodthirsty, crazy man".