Pentagon in $ 9.1 bn fraud case in Iraq

Jan 04, 2011 12:00 AM

Iraq's Supreme Audit Court says the US Ministry of Defence has failed to account for the $ 9.1 bn misspent discretionary funds during Iraq's occupation.
The Pentagon received $ 9.1 bn back in 2004 from the US-led occupation authority funds set up to benefit Iraqi people with assets seized from the previous regime of Saddam Hussein.  According to Iraqi newspaper al-Bayanat al-Jadidah, this recent release follows the 2010 finding of
$ 8.7 bn in Iraq funds not accounted for. The sum had been allocated for reconstruction projects in Iraq, the auditing office said.
An Iraqi auditing official said the audit's president has twice failed to send its representatives to attend the audit's international meetings.
The audit found that defence agencies receiving the money had failed to set up required treasury accounts and managing organizations for the funds.

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