The Coalition Provisional Authority (CPA), the de facto American occupation authority in Iraq, issued regulation No. 2 for the creation the Development Fund for Iraq (DFI). All financial assets of the Iraqi government were transferred to DFI including the Iraqi funds held up by the UN for oil export prior to 2003 occupation.
Section 4 of the regulation state that “The Fund shall be controlled by the Administrator of the CPA, for and on behalf of the Iraqi people.” Also section 7 states “The Fund and the export sales of petroleum, petroleum products, and natural gas from Iraq, shall be audited by independent public accountants nominated by the Administrator and approved by the IAMB.”
The occupation authorities did not respect their own regulations nor did they spend our money for the benefit of the Iraqi people.
The US congress investigated the corruptions by the CPA and found out that the appointed “independent public accountants” had NOT a single qualified accountant on its staff and that the firm was actually operating from a residential address in San Diego!!! Someone was working from a basement of his house!!!
This firm was supposed to have audited billions and billions of American and Iraqi money under the disposal of CPA; I was so shocked. This is why I am posting the link to the video of the US congressional hearing for you to see.
What is even more shocking is that US congress knew in January 2005 about the “unaccounted for” 8.8 billion USD of the IRAQI money. Today four years later the US congress still doesn’t know more than it is “unaccounted for” or simply VANISHED. I wouldn’t be surprised that 4 years from now we will not be any closer knowing WHERE DID IRAQ’S MONEY GO!!!
Corruption by the US government and the American backed government of Iraq is so WIDELY spread that it has reached 23 billion! CNN The Cafferty File has a video segment “Iraq corruption-Billions missing”. It has interesting views from viewers. Watch it!!
The BBC investigative program Panorama had a documentary video report, available at YouTube, on corruption in Iraq. TOTAL CORRUPTION, TOTAL LAWLESSNESS. AMERICA IN IRAQ details numerous corruptions cases that are known to the US government.
Another good documentary film was shown on the British Chanel 4 TV. IRAQ'S MISSING BILLIONS It paints a very depressing picture that Iraq was turned into a fraud free zone!!
American film maker Robert Greenwald produced a film about corporations and corruption in Iraq. Iraq For Sale, the war profiteers is worth seeing just click the link.
Corruption within the Iraqi government is costing the country billions of dollars. Aljazeera program Inside Iraq- Iraq\s corruption interviews the chairman of Iraqi public integrity commission.
It looks like Americans and their friends in Iraq are trying hard to be NUMBER ONE in corruption. They only have to beat the pirates of Somalia and the military junta of Burma!!!