July 24, 2004

Oil for Food Plunder = $10 Billion

FROM THE SOURCE CITED BELOW,IWPR's Iraqi Press Monitor we find this synopsis of where much of the money went:

Central bank tracks foreign deposits
(Al-Mutamar) - An anonymous source in the Central Bank of Iraq said a number of countries, including Lebanon, Turkey, Syria, Jordan, Egypt, and France, hid more than $10 billion. The source added they were sure of these sums, according to hard evidence related to the accounts of the oil-for-food programme. He pointed that the funds are deposited under names of people close to the former regime or under fake names. Most of the funds are in Lebanon and Jordan and are the result of corruption cases in the oil-for-food memorandum of understanding as well as agreements signed between Iraq and other countries. The Central Bank has taken legal action to restore the funds according to the Security Council resolution 1483 which states that all Iraqi funds abroad be deposited in the Iraqi Development Fund.
(Al-Mutamar is issued daily by the Iraqi National Congress.)
Not surprising, really. Now, if they can only get the addresses and keys to those Rental Storage Units in Lebanon and Jordan.

Posted by Vanderleun at July 24, 2004 10:15 AM
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