The U.S. Department of Defense got more than $9billion from the sale of Iraqi oil and other revenue streams to be used for reconstruction inside the war-damaged nation and spent it but now cannot document where $8.7 billion of those funds went, according to an inspector general’s report published online.
The military’s response in the report noted that the records probably exist, it’s just that they’re probably archived, and it might take a long time to track them down.
The issue was documented in a published report from the special inspector general for Iraqi reconstruction. It first was reported by a special contributor, Mike Maloof, in the premium online intelligence source Joseph Farah’s G2 Bulletin.
Maloof reported the IG paperwork documented that the U.S. still holds some $34.3 million of development funds money even though it was supposed to have been turned over to Iraq years ago.