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US: $6.6bn in Iraq aid 'may have been stolen'
Years after American auditors said they had lost track of vast sums of reconstruction cash for Iraq in the wake of the ousting of Saddam Hussein they are now admitting for the first time that much of it was almost certainly stolen.
In a revelation that is stirring anger both on Capitol Hill and among Iraqi officials in Baghdad, the office that was created by the Bush administration to monitor efforts to get Iraq on its feet after the 2003 invasion is saying that $6.6bn (£4bn), all delivered in cash, cannot be accounted for.
Just how much of the missing money was pocketed either by US contractors or Iraqis is not clear, nor is it likely that a full picture of what happened will ever be painted. Even so, Stuart Bowen, who runs the monitoring office, says that the errant billions may represent the "largest theft of funds in national history".
What does seem clear is that, in its rush to get cash into Iraq to help persuade the population that economic and social order could be re-established quickly, the US did not ensure the proper level of financial controls. The US was sending C-130 Hercules transport planes from Maryland to Baghdad stuffed to the gunnels with $100 bills. A single plane was capable of carrying as much as $2.4bn. ...
http://www.independent.co.uk/news/w...in-iraq-aid-may-have-been-stolen-2297096.html
US: $6.6bn in Iraq aid 'may have been stolen'
Years after American auditors said they had lost track of vast sums of reconstruction cash for Iraq in the wake of the ousting of Saddam Hussein they are now admitting for the first time that much of it was almost certainly stolen.
In a revelation that is stirring anger both on Capitol Hill and among Iraqi officials in Baghdad, the office that was created by the Bush administration to monitor efforts to get Iraq on its feet after the 2003 invasion is saying that $6.6bn (£4bn), all delivered in cash, cannot be accounted for.
Just how much of the missing money was pocketed either by US contractors or Iraqis is not clear, nor is it likely that a full picture of what happened will ever be painted. Even so, Stuart Bowen, who runs the monitoring office, says that the errant billions may represent the "largest theft of funds in national history".
What does seem clear is that, in its rush to get cash into Iraq to help persuade the population that economic and social order could be re-established quickly, the US did not ensure the proper level of financial controls. The US was sending C-130 Hercules transport planes from Maryland to Baghdad stuffed to the gunnels with $100 bills. A single plane was capable of carrying as much as $2.4bn. ...
http://www.independent.co.uk/news/w...in-iraq-aid-may-have-been-stolen-2297096.html
