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In 2007 he pled guilty in U.S. federal court in Manhattan to illegally sending payments to Iraq under the Oil for Food program.
Following the publication of the Al Mada article, a US Senate report accused him, along with the British Respect MP, George Galloway, of receiving the right to buy oil under the UN's oil-for-food scheme.
The U.N. Oil for Food program, we learn from the reporting of Claudia Rosett in The Wall Street Journal, was a rip-off on the order of $21 billion — with money intended for hungry Iraqis going instead to Saddam Hussein and his henchmen, to bribed French and Russian businesses and, evidently, to the U.N.'s own man in charge, Benon Sevan.
The Independent Inquiry Committee under Paul Volcker had reported on October 27, 2005 that he and his son Jagat Singh were non-contractual beneficiaries of the Oil for Food programme.
Further, the Oil-for-Food Programme was a strictly humanitarian venture—to use it as a means to gain profit was to steal from the Iraqi people.
Sérigny is close to French President Nicolas Sarkozy, heads numerous companies, and a member of the board of directors of Imerys, a mining company partially owned by a subsidiary of the Power Corporation of Canada and majority owned by the Desmarais family and tycoon Albert Frère, the richest man in Belgium who was involved in the UN Oil-for-Food scandal.
In 2005 Park was accused of acting as an intermediary with corrupt United Nations officials in the oil-for-food conspiracy orchestrated by Saddam Hussein.