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NEWS: $100,000,000 In Iraqi Fund Missing

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posted on May, 5 2005 @ 07:36 AM
US civilian contractors have been unable to account for nearly $100 million (£53 million) that was earmarked for the rebuilding of Iraq. Audits have found possible signs of fraud regaurding the money which was believed to be from oil revenue and assets taken from Saddam Hussein.
The audits found "no assurance that fraud, waste and abuse did not occur".

According to the Sigir, of nearly $120m in cash paid out in south-central Iraq more than $7m is unaccounted for and payments worth $89m do not have the proper paperwork.

"The US risks fostering a culture of corruption in Iraq"
Senator Russ Feingold

Please visit the link provided for the complete story.

As if its not bad enough the insurgents trying their hardest to put a stop to the rebuilding of Iraq, now the funds that are being sent in to do the rebuilding are being eaten away with no signs of were the money is going.

At this rate Iraq will still be a terrible place to be in many years to come.

posted on May, 5 2005 @ 07:43 AM
The first place they might want to look is the Haliburton coffers!

posted on May, 5 2005 @ 09:20 AM
Actually the first place they would want to look is in the pockets of the soldiers who slaved in Iraq these past months. Although I don't blame them, take it when you can get it and don't tell anyone.

posted on May, 5 2005 @ 12:02 PM
Interesting thought, however the poor soldier would be prosecuted to the fullest extent of the law if they were caught, while Halliburton and KBR get away scott free! IMHO

posted on May, 5 2005 @ 04:24 PM
You can be certain the the Bush administration and the Commander In Chief responsible for the war effort have attempted to absolve themselves of responsibility for the misdeeds and the squandering of US taxpayer funds, in their plundering program.

It all starts with the Presidential Executive Order here:

The accountability structures within it (or lack thereof) are eye-opening.

posted on May, 5 2005 @ 04:56 PM
Masked Avatar, thanks for having the you know whats to call it as it is.

For my money, you're never wrong.

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