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Thread: the largest theft of money in U.S. history

  1. #1
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    the largest theft of money in U.S. history

    While people are struggling for their lost jobs and benefits, large amount of money lost by the Pentagon.

    Quote, "Missing in Iraq: 6.6 billion U.S. dollars

    By PAUL RICHTER Tribune Washington Bureau

    Publication: The Day

    Published 06/13/2011

    Officials say it could be the largest theft of money in U.S. history

    Washington - After the U.S.-led invasion of Iraq in March 2003, the Bush administration flooded the conquered country with so much cash to pay for reconstruction and other projects in the first year that a new unit of measurement was born.



    Pentagon officials determined that one giant C-130 Hercules cargo plane could carry $2.4 billion in shrink-wrapped bricks of $100 bills. They sent an initial full planeload of cash, followed by 20 other flights to Iraq by May 2004 in a $12 billion haul that U.S. officials believe to be the biggest international cash airlift of all time.

    .......

    This month, the Pentagon and the Iraqi government are finally closing the books on the program that handled all those Benjamins. But despite years of audits and investigations, U.S. Defense officials still cannot say what happened to $6.6 billion in cash - enough to run the Los Angeles Unified School District or the Chicago Public Schools for a year, among many other things.



    For the first time, federal auditors are suggesting that some or all of the cash may have been stolen, not just mislaid in an accounting error. Stuart Bowen, special inspector general for Iraq reconstruction, an office created by Congress, said the missing $6.6 billion may be "the largest theft of funds in national history."


    The Day - Missing in Iraq: 6.6 billion U.S. dollars | News from southeastern Connecticut

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    Re: the largest theft of money in U.S. history

    Quote, "Missing Iraq cash 'as high as $18bn'


    Iraq's parliament speaker tells Al Jazeera unaccounted reconstruction money is three times the reported $6.6bn.
    Last Modified: 19 Jun 2011

    Osama al-Nujaifi, the Iraqi parliament speaker, has told Al Jazeera that the amount of Iraqi money unaccounted for by the US is $18.7bn - three times more than the reported $6.6bn.

    'No trace'

    The Los Angeles Times reported last week that Iraqi officials argue that the US government was supposed to safeguard the stash under a 2004 legal agreement it signed with Iraq, hence making Washington responsible for the cash that has disappeared.


    Ghassan Atiyyah, of the Iraq Foundation for Development and Democracy, discusses Iraq's missing billions


    Pentagon officials have contended for the last six years that they could account for the money if given enough time to track down the records.

    The US has audited the money three times, but has still not been able to say exactly where it went.


    Missing Iraq cash 'as high as $18bn' - Middle East - Al Jazeera English

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    Re: the largest theft of money in U.S. history

    Are you Kathaksung? If so, why the name change, after all these years? Inquiring minds want to know.

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