Short on cash? You too can help yourself from the Central Bank of Hillah, aka the South Central Office of the Coalition Provisional Authority:
Dryly written audit reports describe the Coalition Provisional Authority’s offices in the south-central city of Hillah being awash in bricks of US$100 bills taken from a central vault without documentation. It describes one agent who kept almost US$700,000 in cash in an unlocked footlocker and mentions a US soldier who gambled away as much as US$60,000 in reconstruction funds in the Philippines.
Note that Hillah is one of the least-dangerous places in Iraq, unless you are a brick of $100 bills of taxpayer funds:
“Those deficiencies were so significant that we were precluded from accomplishing our stated objectives,” the auditors said of US officials in Hillah being unable to account for US$97 million of the US$120 million in Iraqi oil revenues earmarked for rebuilding projects. An October 2005 audit found documentation for the spending of just US$8 million of that money.
That's right, $97 million of $120 million totally unaccounted for.
At one point, several paying agents kept cash inside the same filing cabinet in the Hillah vault. One agent took US$100,000 from another’s stack of cash to clear his own balance.
Remember Me
Powered by: newtelligence dasBlog 1.9.6238.0
Disclaimer The opinions expressed herein are my own personal opinions and do not represent my employer's view in anyway.
© Copyright 2009, Amalgamated Industries
E-mail