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WAR: 1 Billion Dollars Stolen From Iraq

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posted on Sep, 20 2005 @ 02:04 AM
One of the largest thefts in history has taken place in Iraq with more than $1 billion reportedly stolen. The money was originally earmarked to buy equipment for the Iraqi defence forces but, in a series of shady deals, has been channeled out of the country.

The equipment purchased with the money includes 28 year old Soviet helicopters (life-span 25 years), military vehicles so badly made that their armour can be penetrated by a single AK47 bullet, supposedly American MP5 machine guns (worth $3500 each) which turned out to be Egyptian copies (worth $200 each) and 7,62mm ammo purchased for 16 cents each which usually costs 4-6 cents each.

Senior Iraqis have said that they cannot understand how the disappearance of almost the entire military procurement budget has passed unnoticed by the US military or their advisers working in Baghdad. They have also suggested that the Iraqis involved were simply front men for rogue elements within the US military.
One billion dollars has been plundered from Iraq's defence ministry in one of the largest thefts in history, The Independent can reveal, leaving the country's army to fight a savage insurgency with museum-piece weapons.

The money, intended to train and equip an Iraqi army capable of bringing security to a country shattered by the US-led invasion and prolonged rebellion, was instead siphoned abroad in cash and has disappeared.

Please visit the link provided for the complete story.

Well, someone is certainly getting rich from this war. First we have the scandal of the US military being grossly overcharged on no-bid contracts, now it's the Iraqis turn to be robbed. The article also mentions that nearly $500 million has gone missing from the electricity and transport ministries which goes some way to explain why no reconstruction seems to be happening.

The big question is, who has the money? Before we start blaming the US officials, it might be worth remembering that Saddam managed to steal more than a billion and get it out of the country. Are the same officials who helped him do that still working there?

Either way this stinks.

(credit for finding the story goes to twitchy who gave permission for it to be posted here)

Related Discussion Threads:
1 Billion Dollar Scam Arming Iraq With Junk

[edit on 20-9-2005 by Chris McGee]

posted on Sep, 20 2005 @ 02:24 AM
This really shouldnt come as a shock to anyone.
What do people expect?
Power was handed over to the interim far to soon. The same people that ran Iraq under Saddam are probaly in charge of low - medium level posts in the government.
I cant get over how naive Bush and his croines are. Supporting the troops is one thing but who in there right mind is going to support giving there tax payer dollars to corrupt members of government?

Incidents like this do more then the insurgents could to undermine the faith people have in there fragile government.

[edit on 20-9-2005 by xpert11]

posted on Sep, 20 2005 @ 07:33 AM
I also wonder if any of this money could be going to the insurgency. $1 billion would buy a heck of a lot of bombs.

posted on Sep, 20 2005 @ 07:47 AM
WOW is this on top of the $96.6 mil that vanished earlier this year?

No wonder they want us out of their country.

[edit on 20-9-2005 by mrsdudara]

posted on Sep, 20 2005 @ 08:04 AM
Officials have zeroed in on one suspect:

Former Iraqi defense minister faces arrest

ISN SECURITY WATCH (Tuesday, 20 September: 12.21 CET) - Authorities in Baghdad said they would issue a warrant for the arrest of former Iraqi defense minister Hazim Shaalan, a senior Iraqi corruption investigator told reporters. The investigator told news agencies that the warrant would be issued in a matter of days, in connection with the alleged theft of US$1 billion from the post-Saddam Iraqi Defense Ministry. Shaalan resigned in February and now resides in Jordan, news agencies reported. The money was intended to buy the latest equipment for the Iraqi Army but cheap, out-of-date pieces were purchased instead, Britain’s The Independent reported on Monday. “What Shaalan and his ministry were responsible for is possibly the largest robbery in the world,” Reuters quoted the investigator, Radhi al-Radhi, as saying. Shaalan denied any wrongdoing.

International Relations and Security Network

[edit on 2005/9/20 by GradyPhilpott]

posted on Sep, 20 2005 @ 11:12 AM
Good find Grady

I hope we find out who his accomplices are. If it turns out it's someone in the US administration the is really gonna hit the fan.

posted on Sep, 20 2005 @ 11:51 AM
What? No arrest warrant for any of the Provisional Authority dudes who "lost" another $9Billion USD before handing over to the interim authority?
Paul Bremer has some awkward questions to answer to but I doubt he'll ever have to be held accountable.

Let's face it, a lot of people have done very well out of the Iraq farce, and they are not all to be found in the Middle East

posted on Sep, 20 2005 @ 12:06 PM
Anyone notice the new cars the Cheney's are driving? How about the new SUV's and houses the Bushes have??

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