Inspector: $6B Lost Iraq Cash Now Accounted For

A U.S. Iraq inspector general report said this week that the $6.6 billion cash that they though had been lost in the early days of the Iraq occupation has finally been accounted for.

“The mystery of $6 billion that seemed to go missing in the early days of the Iraq war has been resolved according to a new report,” said CNN national security producer Charles Keyes on Wednesday. “New evidence shows most of that money, $6.6 billion, did not go astray in that chaotic period, but ended up where it was supposed to be, under the control of the Iraqi government, according to a report from the office of the Special Inspector General for Iraq Reconstruction or SIGIR.”

According to a previous SIGIR report, Stuart Bowen, the special inspector general for Iraq reconstruction, had testified that out of the $10 billion shipped from the United States to Iraq, up to $6.6 billion went missing because of “weaknesses in [the Department of Defense’s] financial and management controls,”, Keyes reported. [Read more...]