Mind Vomit by the ikss ~ a journal
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Thursday, Aug. 19, 2004anyone checked Dick Cheney's wallet?
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Senators Ask Where $8.8 Bln in Iraq Funds Went By Sue Pleming WASHINGTON (Reuters) - 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. 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. . . The development fund is made up of proceeds from Iraqi oil sales, frozen assets from foreign governments and surplus from the U.N. Oil for Food Program. Its handling has already come under fire in a U.N.-mandated audit released last month. Among the draft audit's findings were that payrolls in Iraqi ministries under Coalition Provisional Authority control were padded with thousands of ghost employees. . . Three Democratic senators -- Ron Wyden of Oregon, Tom Harkin from Iowa and Byron Dorgan of North Dakota -- demanded an explanation from Defense Secretary Donald Rumsfeld over the use of the funds by the CPA, which handed over authority to the Iraqis in June. "The CPA apparently transferred this staggering sum of money with no written rules or guidelines for ensuring adequate managerial, financial or contractual controls over the funds," said the letter sent by the senators on Thursday. . . One of the main benefactors of the Iraq funds was Texas-based firm Halliburton, which was paid more than a billion dollars out of those funds to bring in fuel for Iraqi civilians. The monitoring board said despite repeated requests it had not been given access to U.S. audits of contracts held by Halliburton, which was once run by Vice President Dick Cheney, and other firms that used the development funds. 08/19/04 15:12 � Copyright Reuters Ltd. All rights reserved. The information contained In this news report may not be published, broadcast or otherwise distributed without the prior written authority of Reuters Ltd. |