Audit: &#36;9 Billion Unaccounted for in Iraq
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The U.S. occupation authority in Iraq was unable to keep track of nearly &#36;9 billion it transferred to government ministries, which lacked financial controls, security, communications and adequate staff, an inspector general has found.
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About $10 billion has been squandered by the U.S. government on Iraq reconstruction aid because of contractor overcharges and unsupported expenses, and federal investigators warned Thursday that significantly more taxpayer money is at risk.
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Secretary-General Kofi Annan on Wednesday said the United Nations will use &#36;30 million in revenue from the U.N. oil-for-food program for Iraq to pay the initial bill for the independent investigation of corruption allegations in the program.
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Iraq made more than $21bn from corrupt oil and other deals, a US Senate panel hears - more than twice as much as previously thought.
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Saddam Hussein's regime made more than &#36;21.3 billion in illegal revenue by subverting the U.N. oil-for-food program &#151; more than double previous estimates, according to congressional investigators.
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House Democrats criticized former Iraq occupation administrator L. Paul Bremer yesterday for disbursing nearly $9 billion in Iraqi oil revenue without instituting accounting systems to track more carefully how Iraqi officials were using that money.
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More than 50 internal U.N. audits of the Iraq oil-for-food program flesh out a picture of widespread mismanagement of the program, adding a new dimension to a scandal that has shaken the United Nations.
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WASHINGTON - Saddam Hussein illegally pocketed a staggering $21 billion from the scandal-scarred UN oil-for-food program â-ore than twice the previous estimate, congressional investigators said yesterday.
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GENEVA - The UN-ordered probe into oil-for-food corruption is being seriously hampered by an elaborate system of ghost firms set up around the world to cover the tracks of bribes to Saddam Hussein as he cheated the $60 billion program, a top investigator
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More than 40 percent of Pentagon business, a total of $362 billion, has been awarded on a no-bid basis over the last six years.
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OTTAWA (CP) - Ottawa confirms federal budget surplus of &#36;9.1 billion.
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In a largely invisible cost of the war in Iraq, nearly 800 civilians working under contract to the Pentagon have been killed and more than 3,300 hurt doing jobs normally handled by the U.S. military, according to figures gathered by The Associated Press.
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In a largely invisible cost of the war in Iraq, nearly 800 civilians working under contract to the Pentagon have been killed and more than 3,300 hurt doing jobs normally handled by the U.S. military
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Conducted jointly by the Iraqi government and the World Health Organization, its finding is lower than the 600,000 arrived at by John Hopkins University.
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Iraq needs some 50 billion dollars (36.6 billion euros) in investments to get the oil and electricity sectors produce enough to meet demand, The Washington Post reported Sunday.
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The independent panel investigating alleged corruption in the multibillion-dollar U.N. oil-for-food program in Iraq released the names of 248 companies on Thursday that received Iraqi oil and 3,545 companies ...
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The Iraqi government has failed to meet 11 of the 18 political, economic and security benchmarks it set for itself, and violence remains high despite the U.S. troop surge, the Government Accountability Office reported today.