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$1B In Military Equipment Missing In Iraq
Tractor trailers, tank recovery vehicles, crates of machine guns and rocket propelled grenades are just a sampling of more than $1 billion in unaccounted for military equipment and services provided to the Iraqi security forces, according to a new report issued today by the Pentagon Inspector General and obtained exclusively by the CBS News investigative unit. Auditors for the Inspector General reviewed equipment contracts totaling $643 million but could only find an audit trail for $83 million.
The report comes on the same day that Army procurement officials will face tough questions from the Senate Armed Services Committee regarding their procurement policies. One official, Claude Bolton, assistant secretary for acquisition, logistics and technology, has already announced his resignation on the heels of sharp criticism about Army contracting and expanding fraud investigations. His resignation is effective Jan. 2, 2008.
WASHINGTON — A soon-to-be-released audit will show that at least $8.8 billion in Iraqi money that was given to Iraqi ministries by the former U.S.-led authority there cannot be accounted for, FOX News has confirmed.
Overall, the Defense Contract Audit Agency has found $4.9 billion in overpricing and waste in Iraq contracts since 2003. US auditors have identified another $5.1 billion in expenses charged without documentation
The U.S. military can't account for thousands of weapons purchased to arm some 325,500 Iraqi security forces by December, according to a new report.