Ex-Official: $9 Billion in Iraq Reconstruction Funds Lost to Fraud
A former top Iraqi official told U.S. senators today that roughly $9 billion in American money meant for reconstruction projects was involved in waste, fraud and abuse.
Salom Adhoob, a former chief investigator at Iraq's Commission on Public Integrity -- which is considered the equivalent of the FBI in the United States -- said at a hearing of the Democratic Policy Committee today that he and his agency had done investigations showing the money was misused in fraud and abuse. In one case, he said the Iraqi Ministry of Defense helped create front companies to funnel the money.
So much for Republican fiscal management and responsibility. The $9 billion could be lost to bribes, embezzlement, theft, ... who knows. I doubt that the Bush administration or the Pentagon or any of those responsible for putting the USA into this war will lift a finger to explain this mismanagement.
Read the rest here.