Largest theft in national history

Wednesday, July 06, 2011 - Islamabad—Audit in Iraq shows the missing of $ 18.7 billions from the fund generated through the Iraqi oil proceeds and surplus money from the UN’s oil-for-food programme, reported Al-Jazeera quoting Iraq’s parliamentary speaker Osama Al-Nujaifi.

The fund was set up for the country’s reconstruction by the Federal Reserve Bank of New York using Iraqi money which was withheld because of the sanctions during Saddam Hussein’s regime. It was being safeguarded by the United State following the invasion of Iraq in 2003.

The American audit of the fund blamed “ bad bookkeeping” for the US’s inability to account for billions of the reconstruction fund. Now, the US defence officials are unable to account for $18.7 billion dollars, which was flown to Iraq eight years ago and earmarked for Iraq’s reconstruction.

Now the very American investigation shows that the cash was stolen in what would be the largest theft of funds in national history. The Iraqis call it “ The Mother of Al Thefts.”

The cash was simply stuffed into bags by the occupation personnel and their Iraqi accomplices . It was a free for all loot of the Iraqi money by the US occupation personnel which claimed to have entered Iraq as “ liberators.”