U.S. Defense Department can't account for billions for Iraq, audit finds., page 1

Whoops, forgot the link.

The U.S. Defense Department cannot account for about $2 billion it was given to cover Iraq-related expenses and is not providing Iraq with a complete list of U.S.-funded reconstruction projects, according to two new government audits.

Wow. Nothing like the 2.3 trillion missing before 9/11, but still a sizeable amount. To top it off it was money given to them from Iraq to pay bills for certain contracts.

The Iraqi government in 2004 gave the Department of Defense access to about $3 billion to pay bills for certain contracts, and the department can only show what happened to about a third of that, the inspector general says in an audit published Friday. Although the Department of Defense (DoD) had "internal processes and controls" to track payments, the "bulk of the records are missing," the report says, adding that the department is searching for them. Other documents are missing as well, including monthly reports documenting expenses, the audit says.

Is it money that went to other projects and they were trying to hide it, or was it simply paperwork that went missing when Iraq's government was undergoing their transition?

The audit deals with a time when Iraq's government was undergoing a transition. The Coalition Provisional Authority ran the country for 14 months from 2003 to 2004. During that time, the authority awarded numerous contracts. When it dissolved in 2004, the Iraqi government gave the U.S. Defense Department access to the $3 billion to pay bills for contracts the provisional authority had awarded.

Either way it will be interesting, even though it is such a small sum of money.

What do you think?

This is par for the course!

We have sent pallets of cash over to Iraq, just for it to disappear into thin air!

Link

Some people believe this sort of mishap is how they fund black projects. I believe this is how they funnel money to the elites around the globe.

Either way, don't expect anyone to be held accountable. It was just a mistake after all.

Is it money that went to other projects and they were trying to hide it, or was it simply paperwork that went missing when Iraq's government was undergoing their transition?

reply to post by superman2012

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Most people on ATS were not born yesterday. I rest my case.

Just a couple of things that may not be final answers, but I thought were relevant.

About the pallets of $100 bills. That was $6.6 Billion and it was found. latourette.house.gov...'s-'missing'-66-billion-is-discovered-in-central-bank.aspx

As far as the $3 billion discussed in the OP here's an IG report:www.sigir.mil...=fit

DoD cannot account for about two-thirds of the approximately $3 billion in DFI funds made available to it by the GOI for making payments on contracts the CPA awarded prior to its dissolution. Most of these funds were held in the DFI sub-account at the FRBNY ($2.8 billion); the remainder was held in the presidential palace vault in Baghdad ($217.7 million).

FRBNY records show that DoD made about $2.7 billion in payments from the DFI subaccount. However, the FRBNY does not have specifics about the payments or financial documents, such as vendor invoices, to support them. It required only written approval from the GOI to issue payment.

Although it was DoD’s responsibility to maintain documentation supporting the full $2.7 billion in expenditures made from the FRBNY sub-account, it could provide us documentation supporting only about $1 billion. Although
DoD established internal processes and controls to report sub-account payments to the GOI, the bulk of the records are missing. As a result, SIGIR’s review was limited to the $1 billion in available records. SIGIR
examined 15 payments from this group and found most of the key supporting financial documents.

DoD continues to search for documents supporting the remaining $1.7 billion in payments. DoD’s problems with
DFI records management are not new, and both SIGIR and DoD have previously reported on them.

So the DoD can't account for about $1.7 billion. My guess (and I'm just guessing) is that it's some paperwork problems and some loss. $1.7 billion is huge, but it's less than 1% of what was sent there. Not trying to justify anything, I'm just trying to understand.

reply to post by superman2012

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This is what happens when cash goes into the maze we call bg gumment.
I am not surprised at all.
I'm sure someone will get blamed and get fired only to enter the private sector at a much greater payrate.
These people should not be fired, but hung.

reply to post by superman2012

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My guess is that it was incrementally funneled to various groups, including but not limited to Halliburton and Blackwater/XE.

Not the first time, not the last, and not a shocker, eh?

Also some interesting stuff here:

whereisthemoney.org...
solari.com...

Peace....

P.S. Look in Halliburton et al's pockets

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