$9 Billion Missing in Iraq Reconstruction Funds: Audit

An audit conducted by the United States Special Investigator for Iraq Reconstruction reveals that almost $9 billion is missing from money provided by Iraqi oil revenues. The money was withdrawn from an account set up by the United Nations Security Council and was taken between 2004 and 2007, a period during which there were frequent accusations of fraud and corruption in Iraq. The audit alleges that the American Defense Department failed to establish the appropriate oversight organization to monitor how reconstruction funds were being used.