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Iraqi money: biggest theft in US history

Published: 13 June, 2011, 22:45

The US has misplaced $6.6-billion intended for Iraq.

The US has misplaced $6.6-billion intended for Iraq.

TAGS: Crime, Military, Scandal, Accident, Politics, Iraq, USA


If you’re wondering where the government is putting all of their money, so would they.

­Auditors investigating a missing $6.6 billion in cash that was airlifted to Iraq to help rebuild the country after the 2003 invasion believe the huge sum may have been stolen.

Speaking to the Los Angeles Times, Stuart Bowen, special inspector general for Iraq reconstruction, says the missing $6 billion-plus may be "the largest theft of funds in national history."

In May of 2004, the US sent 21 planeloads of cash, shrink-wrapped and hauled in C-130 Hercules cargo crafts, into Iraq. That was the plan, at least. The $12-billion haul was believed to be the biggest international cash airlift of all time, but over half of the loot disappeared. Now federal auditors are saying this might not have been just a tiny accounting error but rather a major heist.

If you’re having a hard time picturing what 21 cargo planes of cash looks like, think about this: that’s enough money to launch around ten US space shuttles. Or, as the LA Times puts it, enough money to run the Chicago Public School system for an entire year.

After being flown out of Andrews Air Force Base, US officials say the money was stored in a basement vault at one of the palaces that once belonged to Saddam Hussein, as well as some military bases. The money was apparently distributed among Iraqi ministries and contractors as part of the Development Fund for Iraq, though the Pentagon has been unable to locate the $6-billion during the last six years. They have contended that they could account for the money if given enough time to leaf through all of their records, but documentation and the denominations have yet to be located. Now auditors are thinking the money was just plain stolen.

Given a 2004 legal agreement signed by two two countries, Iraqi officials are arguing that the disappearance puts the US at fault. Now the Iraqi government is considering taking America to court to reclaim the money.

Speaking to The Guardian years earlier, a former senior official at the governing Coalition Provisional Authority made claims that he and others “played football with some of the bricks of $100 bills before delivery.”

“It was a wild-west crazy atmosphere, the likes of which none of us had ever experienced.”

+19 (19 votes)
 
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Soccer Coach June 16, 2011, 20:27
0

Holy crap! What a competent transaction.

9ke9 June 15, 2011, 21:05
0

And just the final chapter now, in this bizarre yet predictable and unsurprising story:

here is why the poll went missing:

yes that's a 78% win, to Paul.

http://revolutionarypolitics.tv/video/viewVideo.php?video_id=15336

one would laugh if it wasn't so sad.

they usually don't black ban the man this early ? interesting.
 

Melissa (unregistered) June 15, 2011, 18:07
+1

Oh what a suprise they don't seem to know where the money went. Well when it was corrupt from the start and allowed companies to finance the cost plus programs where the more they spent the more they got in the end, then theft is bound to happen. The people who allowed this financing as well as the companies (Halburton I think) to partake in this should all be tried for stealing from the American people. The whole idea of blow it up to rebuild it is absurd and should have never been an option. A good documentary on these neo-cons is "The new American century" on google video and it goes into detail about these crimes.

I agree with Roberta Kelly, where is all that money, all that gold? Just like the 9-11 commission report, which was crap, we will never know the truth only fabricated stories to quiet the ones who can't see through the lies!