Thursday, May 19, 2005

The 8.8 billion Rip Off

$8.8 Billion dollars is missing, the Coalition Provisional Authority doesn't know where the money went. $8.8 Billion dollars The US was the main power controling the Coalition Provisional Authority and $8.8 Billion dollars is missing.

"The audit by the Coalition Provisional Authority's own Inspector General blasts the CPA for ``not providing adequate stewardship'' of at least $8.8 billion from the Development Fund for Iraq that was given to Iraqi ministries."

“At least $8.8 billion in Iraqi funds that was given to Iraqi ministries by the former U.S.-led authority there cannot be accounted for, according to a draft U.S. audit set for release soon.”

$8.8 Billion in Iraqi Funds Missing What in God’s Name is Going On? Al Franken writes, "The Sunday morning after the White House Correspondents dinner, I ran into Senator George Allen at a brunch thrown by John McLaughlin and his wife. Allen had never heard of the missing $8.8 billion, or at least that's what he told me. And he's on the Senate Foreign Relations Committee."

By Griff Witte
Washington Post Staff Writer
Thursday, May 5, 2005; Page A22

Investigators have opened a criminal inquiry into millions of dollars missing in Iraq after auditors uncovered indications of fraud in nearly $100 million in reconstruction spending that could not be properly accounted for.

The money had been intended for rebuilding projects in south-central Iraq. But auditors with the Office of the Special Inspector General for Iraq Reconstruction found that of $119.9 million allocated, $7.2 million could not be accounted for at all, and $89.4 million in reported spending could not be backed up with sufficient documentation, according to a report released yesterday

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