Who said crime doesn't pay? The London Guardian recently reported $12 billion that has essentially vanished into thin air. Shortly after the start of the war in Iraq, a huge cache of money consisting of $100 bills shrink-wrapped into huge bundles were loaded onto a C-130 planes and delivered to Iraq. The money was to be disbursed to Iraqi ministries and war profiteering contractors but much of the funds were given to 'ghost' employees. The chairman of the US House Committee on oversight and government reform, Henry Waxman was outraged stating, "Who in their right mind would send 363 tons of cash into a war zone?" The cash bonanza came from Iraqi oil sales, surplus UN oil-for-food program, and seized Iraqi assets.
The Coalition Provisional Authority (CPA) retained a relatively unknown consulting company, North Star Consultants, Inc. to 'manage' the accounting details of the transactions. The company reportedly operates from a private home in San Diego. Bremer's financial advisor, retired Admiral David Oliver, responded to a BBC World Service interviewer, "I can't tell you whether or not the money went to the right things or didn't - nor do I actually think it's important."
This is yet another example of the blundering, incompetent, and criminal behavior of the US-led CPA, and their task masters in Washington who played fast and loose with Iraqi assets to enrich war profiteers and the US puppet government in Baghdad.