Report: DoD can't account for $9.1B in Iraq funds

Defense News: The U.S. Defense Department failed to properly account for almost $9 billion of Iraq reconstruction funds, which is 96 percent of the money it received from 2004 to 2007, according to a report released July 27 by the U.S. Special Inspector General for Iraq Reconstruction.

Eight organizations in the department were authorized to spend $9.1 billion from the Development Fund for Iraq, which is made up of funds from Iraq's oil and gas exports, surplus money from the United Nations Oil-for-Food Program and frozen Iraqi assets. The Pentagon organizations were supposed to set up accounts at the U.S. Treasury Department to manage the money, but only U.S. Army Central Command did so for the roughly $400 million it received.     Read Article

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