‘Stolen’ Iraqi Funds Could Exceed $18 Billion

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 $6.6bn we reported last week.

Al-Nujaifi is scheduled to visit the US soon and discuss the missing Iraqi billions.

He said that he received a report this week based on information from US and Iraqi auditors that the amount of money withdrawn from a fund from Iraqi oil proceeds, but unaccounted for, is much more than the $6.6bn reported missing last week.

There is a lot of money missing during the first American administration of Iraqi money in the first year of occupation. Iraq’s development fund has lost around $18bn of Iraqi money in these operations – their location is unknown. Also missing are the documents of expenditure. I think it will be discussed soon. There should be an answer to where has Iraqi money gone.

In a letter to the UN office in Baghdad last month, parliament’s Integrity Committee asked for help to find and recover the oil money taken from the Development Fund of Iraq (DFI) in 2004 and lost in the chaos that followed the invasion.

The appeal to the United Nations could help Iraq recover its money by putting its case before the international community, Bahaa al-Araji, the head of the parliamentary Integrity Committee, said.

“All indications are that the institutions of the United States of America committed financial corruption by stealing the money of the Iraqi people, which was allocated to develop Iraq, (and) that it was about $17 billion,” said the letter sent to the U.N. with a 50-page report.

The committee called the disappearance of the money a “financial crime” but said U.N. Security Council resolutions prevent Iraq from making a claim against the United States.

“We cannot sue the Americans. Laws do not allow us to do that. All we want is to get this issue to the UN,” he said. “If this works, it will open the way for Iraq to restore its stolen money.”

(Sources: Al Jazeera, Reuters)

In a letter to the UN office in Baghdad last month, parliament’s Integrity Committee asked for help to find and
recover the oil money taken from the Development Fund of Iraq (DFI) in 2004 and lost in the chaos that followed the invasion.

2 Responses to ‘Stolen’ Iraqi Funds Could Exceed $18 Billion

  1. mcgyver June 20, 2011 at 6:05 am #

    This is hilarious. They are asking US where THEIR money went? This makes me seriously LOL. 🙂 If I stole something the first thing I would do is look for a scapegoat or sacrificial lamb. We’ve taught them well.

  2. Stew June 20, 2011 at 9:54 am #

    Iraq wants their $18 Billion.
    Yet dinar pumpers scam people out of their money by telling them Iraq will RV Trillions of worthless dinar 100,000% and accept them as payment for oil.
    The diff between truth and dinarland fantasy is hilarious sometimes.