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Monday, 20 June 2011 - Iraq hunting $17 billion missing after U.S. invasion |
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    Edition: U.S. Article Comments (0) Full Focus Photos of the week Our top photos from the past week.  Full Article  Follow Reuters Facebook Twitter RSS YouTube Read Sega says 1.3 million users affected by cyber attack 6:28am EDT U.S. Open officials defend Congressional and applaud McIlroy 10:39am EDT Obama impersonator cut off at Republican conference 18 Jun 2011 New elongated Boeing 747-8 debuts in Paris | 1:41pm EDT Greek PM warns against default, Europe meets on aid | 4:16pm EDT Discussed 72 Republicans to debate, with Romney the frontrunner 47 Weiner tells friends he will resign: NY Times 43 IMF cuts U.S. growth forecast, warns of crisis Watched Airbus' view of flying in the future Mon, Jun 13 2011 Greeks protest austerity measures Sat, Jun 18 2011 Hefner, fiancee split; Schwarzenegger mistress talks Wed, Jun 15 2011 Iraq hunting $17 billion missing after U.S. invasion Tweet Share this Email Print Related News Libyan rebels blame West for lack of cash Sat, Jun 18 2011 Greek PM reshuffles government, lenders dangle lifeline Thu, Jun 16 2011 Rebels dismiss election offer, NATO pounds Tripoli Thu, Jun 16 2011 Syrians flee northern town, Assad envoy in Turkey Wed, Jun 15 2011 Syrians flee military move on restive northern town Tue, Jun 14 2011 Analysis & Opinion Are cellphone payments safe? Isn’t it time for Asians to live life king-size? Related Topics World » United Nations » Iraq » By Waleed Ibrahim BAGHDAD | Sun Jun 19, 2011 2:16pm EDT BAGHDAD (Reuters) - Iraq's parliament is chasing about $17 billion of Iraqi oil money it says was stolen after the 2003 U.S.-led invasion and has asked the United Nations for help to track it down. The missing money was shipped to Iraq from the United States to help with reconstruction after the ouster of Saddam Hussein. In a letter to the U.N. 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. "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. "Our committee decided to send this issue to you ... to look into it and restore the stolen money," said the letter, a copy of which was obtained by Reuters. U.N. officials were not immediately available for comment. SALARIES, PENSIONS The DFI was established in 2003 at the request of the Coalition Provisional Authority (CPA), the U.S. body headed by Paul Bremer that governed Iraq after the invasion. The fund was to be used to pay the salaries and pensions of Iraqi government workers and for reconstruction projects. In 2004, the administration of former U.S. President George W. Bush flew billions of dollars in cash into Iraq. The money came from the sale of Iraqi oil, surplus funds from the U.N. oil-for-food program and seized Iraqi assets. Last July, an audit report from the U.S. Special Inspector General for Iraq Reconstruction (SIGIR) said the U.S. Department of Defense was unable to account properly for $8.7 billion of Iraqi oil and gas money after the 2003 invasion. Iraqi government spokesman Ali al-Dabbagh told Al Jazeera television on Sunday: "No one on the Iraqi side was controlling the work of Paul Bremer at that time. So I think the administration of the United States needs to give the answers for where and how this (money) was being used. "We do understand that Iraqis are also engaged in such lack of transparency and corruption related to the Paul Bremer time in Iraq," he added. Osama al-Nujaifi, Iraq's parliament speaker, said a committee was investigating what happened to some $20 billion of DFI money. "Some of these funds were spent and are documented. But some do not have such documents," he said. "We as a parliament are working together with the Iraqi Board of Supreme Audits and with coordination of SIGIR to know where this money ended up." The appeal to the United Nations could help Iraq recover its money by putting its case before the international community, said Bahaa al-Araji, the head of the Integrity Committee. "We cannot sue the Americans. Laws do not allow us to do that. All we want is to get this issue to the U.N.," Araji said. "If this works, it will open the way for Iraq to restore its stolen money." In 2003, the CPA issued an order granting immunity to U.S. personnel and institutions working in Iraq. (Editing by Jim Loney) World United Nations Iraq Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback   Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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